TIDMALBA
RNS Number : 6557T
Alba Mineral Resources PLC
05 July 2018
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Alba Mineral Resources plc
("Alba" or the "Company")
Greenland Exploration Update
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, is pleased to announce that
exploration activities at the Company's 100% owned Thule Black
Sands and Inglefield Land Projects in north-west Greenland are
scheduled to commence this month.
Highlights:
-- Thule Black Sands (North-west Greenland, 100% owned)
o Approximately 1,000m of drilling and sampling planned
o Offshore sampling to assess potential for future offshore exploration campaign
o Bulk sampling for future processing testwork
o Commencement of environmental studies
-- Inglefield Land (North-west Greenland, 100% owned)
o Mapping and sampling of multiple targets prospective for
cobalt, gold, copper, zinc and other previously identified
anomalies
o Operation to run concurrently to the Thule Black Sands exploration campaign
Alba's Executive Chairman, George Frangeskides, commented:
"We are excited to get back into the field shortly for our first
full field campaign at Thule Black Sands, whilst also embarking on
our maiden campaign at Inglefield Land, a project which contains
targets for a suite of commodities, including cobalt, gold, zinc
and nickel. We will be able to benefit from logistical cost savings
in exploring both sites in north-west Greenland at the same time
and look forward to reporting material results as and when they are
available."
Thule Black Sands ("TBS") - Ilmenite (Greenland, 100% owned)
Drilling and sampling
Following the successful completion of the maiden exploration
campaign in September 2017, where extensive surficial ilmenite
deposits were identified and sampled, Alba is pleased to report
that a drilling and sampling campaign has been planned across the
full licence strike length with the aim of allowing the delineation
of a maiden mineral resource statement for the TBS Project.
Two lightweight, highly portable drill rigs will be used,
ideally suited to being manoeuvred around the Project area. Drill
spacing will likely range from 250m by 100m to 500m by 100m with
wider spaced holes in more distal targets. The Company is targeting
up to approximately 1,000m of drilling and sampling dependant on
the depth extent of the drillholes.
It is anticipated that all samples will be split on site with
the samples for assay being sent to independent laboratories for
determination of heavy mineral content. Coarse reject material from
the sampling will be stored off-site for future testwork.
Target Reconnaissance
Additional potential targets within the licence have been
identified through a review of satellite imagery. These include a
number of deltaic deposits feeding the coastline where it seems
apparent that the source water course cross cuts numerous sills and
dykes that are the source for the ilmenite in the region. An
example is from the south-east target where three clearly visible
intrusive bodies are cut by a drainage channel that runs
perpendicular to the intrusions. The water course is seen fanning
out in to a delta system and flowing into the ocean where plumes of
sediment are observed. It is anticipated that these potentially
high-grade targets will be visited early in the exploration
programme and, should they appear prospective, all efforts will be
made to incorporate them in to the drill programme.
Offshore Sampling
Alba intends to use the specialist equipment being brought to
site by the Company's environmental consultants to collect some
offshore samples from the sea bed, in order to test for the
presence and grade of offshore ilmenite. The Project area, and in
particular Booth Sound in the centre of the licence, has previously
been identified by the Geological Survey of Denmark and Greenland
("GEUS") as a target for offshore ilmenite resources, which is a
logical assumption given the extensive high-grade ilmenite
occurrences observed along the coast and the active river systems
continuously transporting heavy mineral to the coast. The
information gathered from this programme will help to support
future offshore exploration activities.
Bulk sampling
Alba is intending to collect up to 20 tonnes of bulk samples
from various locations across the licence and as dictated by the
drilling. The bulk samples will be used for future metallurgical
testwork.
Environmental Studies
During the upcoming fieldwork, Alba will be joined by a team of
external environmental specialists who will commence the required
studies to support a future Environmental Impact Assessment. The
work planned will include the extensive collection of samples of
flora and fauna.
Highlights of Previous Results at TBS
The forthcoming first full season at TBS is intended to build
upon the strong results obtained from our short maiden field
programme in September 2017, which was undertaken shortly after
licence grant. Highlights of that previous short campaign
included:
-- 65 samples collected which showed a weighted average Total
Heavy Mineral ("THM") content of 46.7%
-- Seven composite samples of the Heavy Mineral Concentrate
showing an in-situ ilmenite content averaging 10.0% and ranging
from 5.7% to 14.9%
-- Ilmenite quality in a TiO2 content range of 45.6% to 47.4%
with an average of 46.4% and low contaminants.
Inglefield Land - Multi-commodity (Greenland, 100% owned)
The exploration campaign planned at Inglefield will involve a
team comprising two senior geologists with extensive experience of
working in Greenland and with specific experience of working on the
Inglefield Land project for previous operators there. The team will
carry out a two-week mapping and sampling campaign across 5-6 key
locations. These include the historically sampled locations listed
below where a multi-commodity suite of anomalous grades has been
identified.
-- Martome Fjord - Cu-Au target with >1% Cu and 1.6 g/t Au from rock chip samples
-- Marble East - Ni-Co target with 0.16% Co and 0.2% Ni from rock chip samples
-- Marble Lake - strong Cu-Au anomaly from rock chip samples
returning grades >1% Cu and up to 1.7 g/t Au
-- Four Finger Lake - Cu-Au and Cu-Pb-Zn-Au anomaly from rock
chip and soil samples including 1.8 g/t Au, 0.24% Cu
To assist the approaching fieldwork, a review of the available
geochemical data has been complemented by a review of acquired
satellite imagery to delineate geological trends that may control
the mineralisation observed to date.
Licence Details
The TBS Project is held under Mineral Exploration Licences
("MEL") 2017/29 and 2017/39, the official Greenlandic name of the
Project being "Igannap Timaa". The Inglefield Land Project is held
under MEL 2017/40 and MEL 2018/25. Alba's wholly-owned subsidiary
White Eagle Resources Limited is the licence holder in all
cases.
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 (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR)
Tim Thompson / Harriet Jackson / Henry
Wilkinson
alba@yellowjerseypr.com +44 77 1071 8649
Competent Person Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Howard Baker, Technical Director of
Alba Mineral Resources Plc. 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 that is 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 Principal Operations & Investments
Oil & Gas
Horse Hill (Oil & Gas, UK): Alba holds an 18.1 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.
Thule 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.
Gold Mines of Wales (Gold, Wales, UK): Alba holds a 49 per cent
interest in Gold Mines of Wales, the ultimate owner of the Clogau
Gold project situated in the Dolgellau Gold Belt in Wales.
Inglefield Land (Multi-Commodity, Greenland): Alba owns 100 per
cent of mineral exploration licences 2017/40 and 2018/15 in
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.
Web: www.albamineralresources.com
GLOSSARY
FeO: Ferrous Iron Oxide
HMC: Heavy Mineral Concentrate. Concentrated heavy mineral mix
extracted from deposits containing ilmenite, zircon, rutile and
other heavy minerals
Ilmenite: The most common titanium bearing mineral, consisting
of FeO.TiO(2) , with up to 6% Fe(2) O(3) in solid solution
Inferred Resource: Definition of mineral deposit at low level of
confidence
Leucoxene: A naturally occurring alteration product of ilmenite,
containing TiO(2) in the range 65% and 90%
QEMSCAN: Quantitative evaluation of minerals by scanning
electron microscopy)
Rutile: The purest, naturally occurring titanium-bearing
mineral, containing over 95% TiO(2)
THM: Total Heavy Minerals. All heavy minerals in mineral sands
with specific gravity >2.9
TiO(2) : Titanium dioxide, occurring in a number of minerals
including ilmenite, rutile and leucoxene. The main commercial
application of TiO(2) is as a whitening pigment.
Titanium: Titanium is mainly used to produce titanium dioxide
pigment which is non-toxic, inert and imparts a brilliance and
opacity. It is widely used in paints, plastics and paper. It is
also used to produce titanium metal which has a high strength to
weight ratio, is non-reactive and resistant to oxidation. It is
used increasingly in aircraft and space craft. Because it is
non-reactive, it is used extensively in surgery.
Zircon: Zircon is a form of zirconium which because of heat and
corrosion resistance properties, is used in chemical processing
equipment, sanitary ware, refractories and electronic appliances
and also in jewellery as zirconia.
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END
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