TIDMALBA
RNS Number : 0928R
Alba Mineral Resources PLC
19 September 2017
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Alba Mineral Resources plc
("Alba" or the "Company")
Thule Black Sands, North-West Greenland
Completion of Reconnaissance Exploration
and Sampling Programme
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that a reconnaissance exploration programme has been completed
across the Company's recently granted, 100% owned Thule Black Sands
licence in north-west Greenland. The 186 km(2) licence MEL 2017/29
is primarily prospective for ilmenite-bearing heavy minerals
sands.
Highlights:
-- Completed field work confirms the presence of active beach
environments with heavy mineral sands being actively deposited,
along with raised beach terraces containing heavy mineral sand.
-- 79 samples collected in total with most collected from active
and raised beaches across a combined strike length of approximately
8.5 km.
-- Two bulk samples collected, weighing approximately 50 kg each
and representing an active beach and raised beach environment.
-- Handheld XRF Niton analysis shows that samples host Titanium
("Ti") and Iron ("Fe") bearing mineral phases, being the primary
constituents of ilmenite (FeTiO(3) ).
-- Detailed aerial photography completed over most of the
licence area to enable geomorphological mapping and the creation of
an accurate elevation model.
Alba's Executive Chairman, George Frangeskides, commented:
"We are very pleased to have completed this first field
programme at our new, wholly-owned Thule Black Sands Project. A
significant sampling exercise was undertaken on a portion of the
licence and those samples together with the two bulk samples
collected will now be sent to specialist laboratories for test work
to be undertaken. These results, plus the detailed aerial
photography taken over much of the licence area, will enable us to
plan our next field season over the coming months."
"In short, our maiden field programme has met all of our
objectives, most importantly providing confirmation that ilmenite
is to be found over large areas within our Project."
Exploration Programme
The exploration programme completed included the collection of
79 hand auger sand samples from between 30 cm to 1 m in depth. Of
the 79 samples collected, 68 were taken from active beaches and
raised beach terraces within the licence area. Reconnaissance
exploration confirmed the presence of active beach environments
with heavy mineral sands being actively deposited, along with
raised beach terraces containing heavy mineral sand. Numerous
samples were panned to confirm the presence of heavy minerals and
analysed by a handheld Niton XRF analyser. Most of the samples
collected were shown to host Titanium and Iron-bearing mineral
phases.
In addition to the exploration samples, two bulk samples were
collected for initial metallurgical test work. Bulk sample number
one was taken from an active beach environment and bulk sample
number two was collected from a raised beach terrace.
All samples are currently being prepared for export to enable
analysis for heavy mineral percentage, assemblage and quality
determination.
The coastline within the licence area is approximately 28 km in
length (in a straight line) with the samples collected during this
field programme covering a combined strike length of approximately
8.5 km. Samples were collected from all three of the main stretches
of coastline north-west and south-east of Booth Sund. The samples
collected to the north-west of Booth Sund were completed on the
final day of the field programme. Extensive terraces were observed
in this area that were not sampled due to time constraints, however
these will be revisited in the next field season.
Reconnaissance of other licence areas
The Alba field team also carried out reconnaissance exploration
at the Company's other wholly-owned, albeit secondary, licence area
located in the Thule Black Sands Province, MEL 2017/39 (licence
grant announced on 4 September 2017). While significant areas of
possible ilmenite-bearing mineral sand were not identified during
the visits to this licence area, given that the areas are extensive
and were only partially visited due to time constraints and the
focus during this field programme on MEL 2017/29, the Company
intends to carry out further reconnaissance on these areas during
the next field season.
The Alba team also travelled to the Company's newly granted iron
ore project, the Melville Bay Iron Ore Project (MEL 2017/41) and
took samples from outcropping material. These samples will also be
sent to accredited laboratories for assaying.
Due to time constraints, the Inglefield Land licence area (MEL
2017/40) was not visited during this field programme.
Alba field team
Alba contracted Baker Geological Services Ltd ("BGS") to
undertake the sampling programme with Mr Howard Baker of BGS being
a Competent Person for heavy mineral sands projects. Mr Baker
previously worked for the mineral sands producer Iluka Resources in
Australia and the International Mining Consultancy, SRK Consulting
(UK) Ltd ("SRK") where he was employed for eight years as a
Principal Consultant and Practice Leader. During his time with SRK,
he frequently acted as Competent Person for heavy mineral sands
projects, including projects in Mozambique, India and Australia. Mr
Baker is also a Competent Person for iron ore projects and
previously worked on the Melville Bay Project. Mr Baker was
accompanied by Mr Oliver Jones of Impala Geomodelling, also a
former employee of SRK.
As part of the field programme, Mr Baker and Mr Jones visited
the laboratories of the Geological Survey of Denmark and Greenland
("GEUS"). GEUS have extensive knowledge of the Thule Black Sands
Province and provided assistance to Alba on aspects of the field
programme.
Recalculation of Licence Areas
The Company has been informed by the Mineral Licence and Safety
Authority of Greenland ("MLSA") that the licence area sizes for
Alba's recently granted exploration licences have been incorrectly
calculated and should in fact read as follows: MEL 2017/29 -
186km(2) (previously 384km(2)), MEL 2017/39 - 104km(2) (previously
158km(2)), MEL 2017/40 - 82km(2) (previously 90km(2)) and MEL
2017/41 - 354km(2) (previously 370km(2)). There is no change to the
actual extent of the licence areas as previously reported in our
announcements of 1 August and 4 September 2017 and all licence
co-ordinates remain the same.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Alba Mineral Resources
plc
George Frangeskides,
Executive Chairman +44 20 7264 4366
Cairn Financial Advisers
LLP
James Caithie / Liam
Murray +44 20 7213 0880
Dowgate Capital Stockbrokers
Ltd
Neil Badger +44 1293 517744
Competent Person's Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Howard Baker, Managing Director of
Baker Geological Services Ltd. Mr Baker is a Chartered Professional
Fellow of the Australasian Institute of Mining and Metallurgy
(Membership Number 224239) and a Competent Person as defined by the
rules of International Reporting Codes that are aligned with
CRIRSCO.
Howard Baker has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration targets, Exploration Results, Mineral Resources and
Ore Reserves', also known as the JORC Code. The JORC code is a
national reporting organisation that is aligned with CRIRSCO.
Howard Baker consents to the inclusion in the announcement of the
matters based on his information in the form and context in which
they appear.
Alba's Project Portfolio
Oil & Gas
Horse Hill (Oil & Gas, UK): Alba holds a 15 per cent
interest in Horse Hill Developments Limited, the company which has
a 65 per cent participating interest and operatorship of the Horse
Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK
Weald Basin.
Brockham (Oil & Gas, UK): Alba has a direct 5 per cent
interest in Production Licence 235, which comprises the previously
producing onshore Brockham Oil Field.
Mining
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest
in the Amitsoq Graphite Project in Southern Greenland and has an
option over the remaining 10 per cent.
Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of
mineral exploration licences 2017/29 and 2017/39 in the Thule
region, north-west Greenland.
Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per
cent interest in mineral exploration licence 2017/41 in Melville
Bay, north-west Greenland. The licence area benefits from an
existing inferred JORC resource of 67 Mt @ 31.4% Fe.
Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent
of mineral exploration licence 2017/40 in north-west Greenland.
Limerick (Base Metals, Ireland): Alba has 100 per cent of the
Limerick base metal project in the Republic of Ireland.
El Mreiti (Uranium, Mauritania): Alba has applied for the
reissue of a uranium permit in northern Mauritania, centred on
known uranium-bearing showings.
Alba continues actively to review numerous other project
opportunities which have value-enhancing potential for the Company
whether by bolt-on or stand-alone acquisition, farm in or joint
venture.
Web: www.albamineralresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
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