Alba Mineral Resources PLC Operational Update (2567Y)
September 07 2020 - 7:52AM
UK Regulatory
TIDMALBA
RNS Number : 2567Y
Alba Mineral Resources PLC
07 September 2020
Alba Mineral Resources plc
("Alba" or the "Company")
Operational Update
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, is pleased to provide an
update on the Company's activities.
Further to our announcement on 22 July 2020, we are pleased to
report that the Snowdonia National Park Authority ("SNPA") has
granted planning permission for Alba's proposed regional surface
trenching programme, subject to conditions. The Company believes
that it will be able to fulfil the conditions attaching to the
permission.
The Company also confirms, further to our announcement of 14
August 2020, that the underground bulk sampling and drilling
programme has now commenced. The Company does not expect to release
results until following the end of the programme and once
laboratory assay results have been analysed and assessed. The
underground bulk sampling and drilling programme is expected to run
for the month of September 2020, with assay results to be issued
some time thereafter, depending on the normal timelines and
workloads of the independent assay laboratory.
Finally, further to our announcement of 3 April 2020, in which
the Company reported that in response to the Coronavirus pandemic
the Government of Greenland had reduced the exploration obligations
for 2020 to zero for all mineral exploration licences (including
those held by the Alba group), the Government has now further
confirmed that all mineral exploration licences (including those
held by the Alba group) are being extended by one year to make up
for what is considered to have been effectively a lost year for
exploration in Greenland.
Alba welcomes this decision by the Government of Greenland, and
indeed had actively lobbied for this outcome. This decision is seen
by the Company as a reinforcement of Greenland's continued
pro-mining outlook.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's or any third party's
ability to execute and implement future plans, and the occurrence
of unexpected events. Actual results achieved may vary from the
information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
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Clogau (gold) Wales 90%
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Inglefield (copper, cobalt,
gold) Greenland 100%
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Limerick (zinc-lead) Ireland 100%
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Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Brockham (oil) England 5%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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