A new Minor Gold Rush is Kicking off in Wales

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Many people have wondered if and when the next gold rush is likely to occur. As it turns out, Wales may prove a rather interesting region to explore. Drilling samples have been taken throughout the country, all in an effort to search for new gold reserves. 

There is Gold in Wales?

As unlikely as it may sound on paper, Wales has been an active mining area for gold. Several known mines can be found throughout the country, with some of them still active just a few decades ago. It is remarkable how many ounces have been mined in this country, even though hardly anyone seems to associate it with mining precious metals. The big question is if – and how much – gold has been left behind by previous miners. 

Answering those questions is not that easy. To determine the viability of exploring existing mines again, soil samples have to be taken. So far, roughly 1,200 samples have been taken from various locations in Wales. The results are not made public yet, but there is plenty of hope. Finding gold in Wales is not impossible, although the quantities may not necessarily be spectacular. 

One mine that is of particular interest is Clogaeu St David’s gold mine in Dolgellau. It has been operational until 30 days, when the venture was closed for good. That being said, mining techniques have advanced significantly in the past few decades. It is certainly possible there is still plenty of gold to be found at this location. 

The Benefit of new Techniques

One new approach currently being tested is the drilling from underground. Using this technique has never been done in the historic mine, although it doesn’t offer a guarantee for success either. If successful, the team of Alba Mineral Resources hopes to find at least one untapped gold vein. It is possible that more than one will be discovered in the process, albeit that is mere speculation at this point. 

For those unaware, Alba Mineral Resources has acquired a 90% stake in Gold Mines of Wales. This latter entity has official permission from the Crown to prospect in the area, as well as mine if anything noteworthy is discovered. Considering how gold prices have risen spectacularly in 2020, now is a good time to begin exploring once again.

Drilling and taking samples from a gold mine in Wales that closed 30 years ago is a dangerous task. Alba will effectively perform the necessary maintenance work to ensure everything can be done in a safe and secure environment. This entire process will take until at least the end of September, and results will be tested afterward. 

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