Alba Mineral Resources plc (AIM: ALBA) is pleased to provide an update on its mining project portfolio.
Update includes:
· Inglefield Land (Greenland, 100% owned)
o Four initial high priority targets have been identified within the licence that show anomalous grades of Gold, Copper, Zinc and Cobalt
· Thule (Greenland, 100% owned)
o Ongoing testwork at Thule Black Sands shows ilmenite quality in a TiO2 content range of 45.6% to 47.4% with an average of 46.4% and low contaminants
· Amitsoq (Greenland, 90% owned)
o Conceptual geological models created for both Amitsoq and Kalaaq graphite targets
· Clogau Gold Project (Wales, 49% owned)
o Completion of geological model for regional exploration
o Initial regional exploration targets identified
Alba’s Executive Chairman, George Frangeskides, commented:
“A lot of work is being undertaken behind the scenes by our technical team as we refine our exploration targets in Greenland and Wales. The ongoing testwork and data evaluation across our suite of projects has so far produced promising results. We will keep shareholders updated of further material developments.”
Inglefield Land (Greenland, Multi-Commodity, 100% owned)
Our in-house evaluation of historical data at Inglefield Land has resulted in the generation of some high priority targets, including:
· 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
Additional targets have been identified across all sub-areas within Alba’s licence area. Given the extensive sampling that has previously been completed within Inglefield Land, Alba will undertake further desktop-based geological and geophysical studies to assess the most appropriate field techniques to be applied and targets to be assessed during the forthcoming field work.
Thule Black Sands (Greenland, Ilmenite, 100% owned)
As reported on 16 November 2017, eight composite samples were generated from the heavy mineral concentrate (“HMC”) from 65 samples taken from Mineral Exploration Licence 2017/29, the licence area 100% owned by Alba’s subsidiary, White Eagle Resources Limited. The composites were created based on the geographical location of the samples which underwent QEMSCAN analysis at independent laboratories to determine the mineral assemblage within the heavy mineral concentrate.
The eight HMC composite samples have been used to create thin sections suitable for detailed scanning electron microscopy (“SEM”) to assess the mineralogy, TiO2(titanium dioxide) distribution and elemental concentrations per mineral phase with the work being undertaken at independent laboratories.
The testwork has shown that, from the near surface samples collected to date, the contained ilmenite within the HMC ranges in TiO2 content from 45.6% to 47.4% with an average of 46.4% and very low contaminant levels.
It should be noted that this represents ilmenite quality results only and does not represent the potential final product grades attainable, the specifications of which will be tested through future testwork.
Composite number 8 was generated from three auger samples collected from a glacial beach terrane. Here, a lower THM content of 16.3% is reported, with a QEMSCAN in-situ ilmenite grade of 1.8%. Whilst lower in grade when compared to the other composites, the SEM testwork shows a relatively higher TiO2 content of 47.4% and indicates additional potential targets for exploration beyond the active and raised beach terraces.
Ilmenite is the primary source of titanium dioxide, TiO2. Titanium dioxide is mined as
ilmenite, rutile or, in lesser quantities, leucoxene. It is a dark coloured mineral which, with processing, becomes white and opaque. It is primarily used as a whitening pigment in paints, plastics and paper. Other uses include the manufacture of titanium metal.
Titanium dioxide feedstocks are graded by their titanium dioxide content. Feedstocks are either sold as raw minerals (rutile and chloride or sulphate ilmenite) or as processed or upgraded feedstocks, whereby ilmenite is processed to increase its titanium dioxide content. Upgraded feedstocks are synthetic rutile, chloride and sulphate slag and upgraded slag.
Alba will soon commence testwork on the two mini bulk samples collected from the maiden sampling campaign. The samples, each weighing 40kg and representing a raised beach and an active beach environment will undergo suitable preparation and processing at an independent laboratory to evaluate the potential to produce an ilmenite product.
Amitsoq (Greenland, Graphite, 90% owned)
Following on from the sampling and structural mapping completed during 2017, conceptual geological models have been created for both the Amitsoq and Kalaaq targets. The conceptual models use all available information collected to date and will assist in the planning of future exploration campaigns and potential drill targets.
Clogau Project (Wales, Gold, 49% owned)
Alba has been collating all historical data for the project and has compiled a regional geological model that has been used to generate regional exploration targets from across the licence. The regional targets have been identified through a comparison of the known geological framework of the existing Clogau-St David’s Gold Mine. Numerous targets have been identified with Alba and project partner Gold Mines of Wales Limited initially planning to focus efforts on the two targets in closest proximity to the existing mine.
Alba continues to assess the most appropriate development strategy for the existing mine.
Updated videos
As part of our ongoing technical work, we continue to generate 3D conceptual models of our mining projects. While these in-house models are obviously key to our planning of the next phases of work, they are also a useful tool for shareholders as they provide a visual representation of the projects as the models are revised and refined as we add further exploration data to them. The latest videos showing some of this work are now available at the following link with updated videos for each of Thule, Amitsoq and Clogau: https://goo.gl/SzhRGr
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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 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
