logo
advert

LATEST NEWS

Gold in them there hills




by Webmaster, 23rd December 2020

Miners strike gold worth millions in Snowdonia

Wales has long been famous for its gold mines and particularly in the north, where 90 percent of the UK’s gold has been mined over the last century and a half. In recent years though, mines have been closing as the supply of this precious metal dries up. 

Yet now a fresh seam of gold has been discovered in an extension of the Clogau-St David mine which stretches for a third of a mile through Snowdonia. The find could be worth £700m, as analysts predict up to 14 tons could be produced. 

The mine originally opened in the 1860s, but was abandoned for many years owing to high costs and diminishing amounts being found. 

Alba Mineral Resources will dig eight 6ft by 3ft trenches up to 295ft long to exploit the potential new reserves. Mr Frangeskides, executive chairman of Alba, says the company is delighted to discover the extension to the main seam and hailed it as a ‘significant discovery’. 

“Finding a continuation which has never previously been exploited constitutes the most significant discovery at the mine in decades,” he explains.

Since 1923 the Royal family have used Welsh gold in their wedding rings. The Queen Mother started the tradition with her marriage to the Duke of York, Prince Albert and since then the Queen, Princess Diana and the duchesses of Cambridge and Sussex have all had weddings rings made from Welsh Gold. 

Share this...

More

No Brainer for Marston's - After a turbulent few months and the prospect...

Freedom for Herefordshire - As Herefordshire becomes the only county to m...

Look beyond the volatility - A message from our friends at Hartey Wealth M...

The man who saved I'm a Celeb's Gwrych Castle - As a schoolboy, Mark Baker found a North Wale...

Our 200th issue, out now! - Check out the November issue of our Welsh Bor...

ARCHIVE

Search our archives for other articles in this section