TOP TRENDING

Wales prepares for a new gold rush when a £ 700 million seam of the precious metal is discovered in Snowdonia


Wales prepares for a new gold rush when a £ 700 million seam of the precious metal is discovered in Snowdonia

  • Miners found a gold suture at the Clogau St David mine in Snowdonia, Wales
  • New lode could be up to 500,000 ounces in size – worth about 700 million pounds
  • About 90 percent of the British gold mined in the past 150 years has come from North Wales

Welsh miners celebrate the discovery of a new gold seam worth up to £ 700 million.

The huge find was made during test drilling at the Clogau-St David gold mine in Snowdonia, which closed in 1998, Alba Mineral Resources confirmed.

Between 1862 and 1911, over 2.4 tons of gold were found in the mine after the mother road was found. However, new boreholes found that the mother road had been extended by 550 meters.

It is believed that there could be up to 500,000 ounces of gold in the region, and with gold currently selling at just under 1,400 pounds an ounce, that would be a staggering 700 million pounds.

Welsh miners celebrate the discovery of a new gold seam in a Snowdonian mine, which could be worth up to £ 700 million. The mine was the site of a mini gold rush in 1862

It is believed that there could be up to 500,000 ounces of gold in the region, and with gold currently selling at just under 1,400 pounds an ounce, that would be a staggering 700 million pounds. Buildings near the mine entrance in the 1980s

It is believed that there could be up to 500,000 ounces of gold in the region, and with gold currently selling at just under 1,400 pounds an ounce, that would be a staggering 700 million pounds. Buildings near the mine entrance in the 1980s

The chiefs of the mining company said the discovery was "significant" as findings in the area usually resulted in "very high quality gold bowls".

Clogau was once the largest and richest mine of all gold mines in the region, whose raw materials were popular with the kings.

After the mine had produced copper and a little lead for a few years, it developed into gold production in the "rush" of 1862 and was a major operator until 1911.

Since then, the mine has reopened several times for smaller operations and was last shut down in 1998.

Gold from the Clogau mine (picture) and the surrounding area has been used in wedding rings for the royal family since 1923

Gold from the Clogau mine (picture) and the surrounding area has been used in wedding rings for the royal family since 1923

Several exploration companies have made offers to restore production from the mine, but have made efforts to locate the precious lode.

A miner who worked in Clogau once said: “Finding gold in most work-related mines is like finding the cream in a sponge cake.

“Finding Welsh gold is like finding the sixpence in the biggest Christmas cake you can imagine.

"There is no pattern, no logic, and you never know when you are inches away."

Gold from the Clogau mine and the surrounding area has been used in wedding rings for the royal family since 1923.

After the mine had produced copper and a little lead for a few years, it developed into gold production in the "rush" of 1862 and was a major operator until 1911. Pictured: Jerry Williams, a Welsh gold miner at the Clogau St David & # 39; s Mine, near Dolgellau

After the mine had produced copper and a little lead for a few years, it developed into gold production in the "rush" of 1862 and was a major operator until 1911. Pictured: Jerry Williams, a Welsh gold miner at the Clogau St David & # 39; s Mine, near Dolgellau

The tradition was started by the Queen Mother in her marriage to the Duke of York, Prince Albert. Since then the Queen, Princess Diana and the Duchesses of Cambridge and Sussex all had Welsh gold wedding rings.

Earlier this year, Alba bosses applied for permission to dig eight massive trenches – after sniffing £ 750 million worth of gold nuggets hidden in the Clogau-St David mine.

The company says there is "real potential to discover untapped high quality pods" and adds that Welsh gold is receiving a "substantial premium" – and that it has already discovered "10 new gold anomalies" in the region, the Dolgellau gold belts are called.

Earlier this year, Alba bosses applied for permission to dig eight massive trenches - after sniffing £ 750 million worth of gold nuggets hidden in the Clogau-St David mine. Pictured: Edward Edwards inspects the abandoned mine

Earlier this year, Alba bosses applied for permission to dig eight massive trenches – after sniffing £ 750 million worth of gold nuggets hidden in the Clogau-St David mine. Pictured: Edward Edwards inspects the abandoned mine

Alba CEO George Frangeskides confirmed earlier this month that miners had found the giant "550-meter extension" of the main street, also known as Mother Street.

He said, “The main road has historically been the source of most of the gold production at the Clogau-St David gold mine. Therefore, finding a continuation of the main road that has never been used before would be the most significant discovery in the mine in many decades.

"It is indeed a very positive result for our drilling team to have a really solid gold interval with just seven holes in our very first underground drilling campaign."

advertising

(tagsToTranslate) Dailymail (t) messages