TIDMALBA
RNS Number : 1504S
Alba Mineral Resources PLC
16 December 2016
Alba Mineral Resources plc
("Alba" or the "Company")
Encouraging Gravity and Soil Geochemistry Results,
Limerick Base Metal Project, Ireland
Further to the announcement on 25 October 2016, Alba Mineral
Resources plc (AIM:ALBA) is pleased to report the results of
microgravity study and portable XRF shallow soil sampling programme
from the Limerick base metal project ("Limerick" or the "Project")
in Co. Limerick, Republic of Ireland. Interpretation of the gravity
data suggests the presence of gravity anomalies consistent with
brecciation of the host limestone, with zinc and lead anomalism in
shallow soil samples collected above or adjacent to gravity
anomalies.
HIGHLIGHTS
-- Several gravity anomalies detected
-- Gravity lows are interpreted to be a result of dissolution and brecciation of the host rock
-- Zinc and lead soil anomalism is present above or adjacent to the gravity anomalies
-- 11 samples from pXRF considered to be highly anomalous (131
to 269 ppm Zn) for zinc, and 12 samples anomalous for lead (38-93
ppm Pb)
-- Survey area is 9 km south of Teck Ireland's Stonepark
project, 12 km southwest of Glencore's Pallas Green project, and 25
km due west of the former Gortdrum copper-silver mine.
Background
In October 2016, Alba's wholly-owned Irish subsidiary Aurum
Mineral Resources ("AMR") undertook a detailed microgravity study
and shallow soil sampling programme on the eastern side of
prospecting licence (PL) 3824 situated in Co. Limerick, Republic of
Ireland. The licence, located in the Lower Carboniferous Limerick
Basin, is considered highly prospective for zinc, lead and silver;
it is 9 km south of Teck Ireland's Stonepark project, 12 km
southwest of Glencore's Pallas Green project, and 25 km west of the
historic Gortdrum copper-silver-mercury mine (3.5 Mt at 1.19% Cu).
The licence hosts the same target unit as the Pallas Green and
Stonepark zinc discoveries, namely the contact between the
Ballysteen Limestone Formation (Fm.) and the overlying Waulsortian
Limestone Fm. A deeper target within the Lower Limestone Shale Fm.,
akin to the mineralization at Gortdrum, is also possible.
Drilling by joint venture partner Teck Ireland in 2012
identified anomalous zinc (5750 ppm) and lead (208 ppm)
concentrations within a white matrix breccia over a 2 m interval
between a depth of 512 and 514 m. This was just above the
Ballysteen Limestone - Waulsortian Limestone Fm. contact.
Gravity Survey
A total of 243 gravity station measurements were collected by
staff of Aurum Exploration Services on behalf of AMR, on the
eastern side of PL 3824 using a line spacing of 150 m and a station
spacing of 100 m. A total of twenty-two stations were re-read for
quality control and all location and elevation measurements were
recorded using a differential GPS unit. Data processing was
performed by Williams Geophysics Ltd, with a number of corrections
implemented to allow the data to be plotted correctly. These
corrections included Free Air, Bouguer, latitude, and terrain
(topographic). Processing of the data was undertaken in order to
produce a residual gravity map, i.e., a map with the regional field
removed to enhance any gravity variations caused by local
geology.
Williams Geophysics have interpreted the gentle southward
dipping gravity gradient that is cut by a north-south gravity low
as probably marking the presence of solution along a fault zone.
They have also suggested that several broad areas of low gravity
may indicate the presence of underlying brecciated limestones
within the Waulsortian Limestone Formation. Brecciated limestone is
a ubiquitous feature of Irish-type deposits.
Shallow Soil Sampling
A total of 238 shallow soil samples were collected at the
location of each gravity station (with an average sampling spacing
of 100 m and a lines spacing of 150 m). Samples were collected from
the "B" soil horizon at a depth of approximately 0.40 m using a
soil auger, and duplicate samples were collected at every 15
samples.
The samples and duplicates were dried, sorted and analysed using
an Olympus DELTA Premium portable XRF (pXRF) unit using the "soil
mode". A certified reference material was measured every 15 samples
to ensure the data was consistent. The metal concentrations
measured using pXRF are only used as a guide to the true metal
value. However, for the purpose of this report the pXRF are
considered satisfactory to identify anomalous areas where the
samples were collected.
The statistics on select ore-element concentrations from the
soil samples determined by pXRF analysis are tabulated in Table
1.
Table 1. Concentrations of metals of interest in PL3824 soil
samples measured by pXRF analysis.
Std
Dev
Min Max Average (+/-
Element (ppm) (ppm) (ppm) ppm)
---------- ------- ------- -------- ------
Zinc 19 269 85.2 27.1
Lead 6 93 22.0 9.4
Copper 3 37 13.0 5.1
---------- ------- ------- -------- ------
The concentrations for the ore elements zinc, lead, and copper
determined by pXRF were plotted to determine their spatial
relationship. Eleven samples were considered to be highly anomalous
(131 to 269 ppm Zn) in the dataset for zinc, and twelve samples
highly anomalous for lead (38-93 ppm Pb). The majority of these
samples were clusters in the northwest quadrant of the soil grid
and corresponded to areas underlain by gravity highs (possible near
surface rocks) or adjacent to a gravity low (possible brecciated
limestone). Copper anomalism was weaker, with only eleven samples
considered significantly elevated above background values to
warrant further examination. Five of these samples occurred close
to a gravity high that was coincident with an east-west trending
fault. This might indicate a stratigraphically deeper target within
the Lower Limestone Shale Formation.
It is stressed that the pXRF data is a good approximation of the
likely metal concentration present within the soil samples, but a
full geochemical laboratory assay is necessary to clearly determine
the concentrations. Approximately 140 samples from the shallow soil
survey area are currently being assayed at ALS (Ireland), and the
results will be reported when available.
Maps from the geophysical and geochemical surveys will shortly
be available on the Company's website.
Proposed Future Work on the Limerick Project
Subject to the soil assay results, the next stage of work will
be to conduct several Induced Polarization (IP) lines over
potential targets. If warranted, follow-up exploration drilling
will take place to explain the cause of the geochemical and
geophysical anomalism.
Mike Nott, Alba's CEO, commented:
"We are extremely pleased with the success of the gravity study
and the preliminary soil geochemistry on PL3824. The gravity study
is interpreted to have identified possible brecciation, a feature
that is associated with Irish-Type mineralization, whereas the
portable XRF data suggests we are in an area of base metal
anomalism."
"We eagerly look forward to the soil geochemistry assays, and
hope to tie the results in with previous studies conducted on the
licence to further our exploration efforts."
Competent Person's Declaration
The information in this announcement that relates to the
geology, exploration results and work programme is based on
information compiled by and reviewed by EurGeol Dr Sandy M.
Archibald, PGeo, Aurum Exploration Services, who is a Professional
Geologist and Member of the Institute of Geologists of Ireland, and
a Fellow of the Society of Economic Geologists. He is a geologist
with fourteen years of experience in the exploration industry, and
ten years post-graduate studies.
Sandy M. Archibald is a Technical Advisor to Alba Mineral
Resources plc and has sufficient experience which is relevant to
the style of mineralization and type of deposit under
consideration, and to the type of activity which he is undertaking
to qualify as a Competent Person as defined in the June 2009
Edition of the AIM Note for Mining and Oil & Gas Companies.
Sandy M. Archibald consents to the inclusion in the announcement of
the matters based on the information in the form and context in
which it appears and confirms that this information is accurate and
not false or misleading.
For further information please contact:
Alba Mineral Resources
plc
Michael Nott, CEO +44 20 7264 4366
Cairn Financial Advisers
LLP
James Caithie / Liam Murray +44 20 7213 0880
Dowgate Capital Stockbrokers
Limited
Jason Robertson / Neil
Badger +44 1293 517744
About Alba
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. Alba is also earning
a 5% interest in Production Licence 235, which comprises the
producing onshore Brockham Oil Field.
Alba has earned the right to a 49 per cent interest in the
Amitsoq Graphite Project in Southern Greenland and has agreed to
acquire a further 41 per cent interest in the Project, subject to
Greenlandic regulatory approvals.
In addition, the Company has recently renewed its Limerick base
metal licence in the Republic of Ireland. The Company has applied
for the reissue of a uranium permit in northern Mauritania. The new
Mauritanian permit will be on a reduced area, and is centred on
known uranium-bearing showings.
Alba continues actively to review and discuss numerous other
project opportunities which have value-enhancing potential for the
Company whether by acquisition, farm in or joint venture in a range
of jurisdictions around the world.
The company news service from the London Stock Exchange
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