TIDMALBA
RNS Number : 3136L
Alba Mineral Resources PLC
18 July 2017
18 July 2017
Click on or paste the following link into your website browser
to view the associated PDF document (including images):
http://www.rns-pdf.londonstockexchange.com/rns/3136L_1-2017-7-17.pdf
Alba Mineral Resources plc
("Alba" or the "Company")
Field Programme at Amitsoq Discovers Multiple New Graphite
Beds
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that it has now successfully completed the approved June/July
fieldwork programme at the Amitsoq graphite project (the "Project")
in southern Greenland.
The Alba field team have discovered significant new graphite
zones in the southern part of Amitsoq island and on the mainland
portion of the licence. The team have also successfully verified
several of the graphite anomalies highlighted by the
electromagnetic survey ("EM Survey") conducted in Q4 2016,
including graphite zones and extensions of the former graphite mine
at Amitsoq. Additional gold mineralisation may also be confirmed
once the stream and scree sediment sample assay results are
returned from the laboratory.
HIGHLIGHTS
-- Several of the airborne EM anomalies identified in the EM
Survey have now been confirmed as graphite horizons along strike
and proximal to the Amitsoq graphite mine.
-- Two new areas of thick graphite accumulation have been
identified. The first area is located 8.75 km to the north-east of
the former Amitsoq mine, and corresponds to a strong EM anomaly,
with a true thickness of at least 4.85 m. The second area is
located on the mainland portion of Alba's licence, 11.5 km
north-north-east from Nanortalik, and consists of at least three
beds of apparently purer graphite than the Amitsoq mine area, with
true thicknesses of 6.3, 4.9 and 3.6 m. These beds were not covered
in the EM Survey and so represent a new graphite discovery.
-- A 58.5 kg chip sample has been collected for additional
metallurgical testing across the 5.1 m (true thickness) upper
graphite bed at the mine site. At least some parts of this bed also
appear to have higher purity than the previously sampled lower
graphite bed at Amitsoq (the test work from which returned high
grade, +25% graphite).
-- Forty-five stream sediment and eight scree sediment samples
were collected to assess the gold and base metal potential of the
licence area, particularly at Sönder Sermilik (on the northern
mainland portion of the licence), and close to Nanortalik.
-- Thirty-seven grab and chip samples were collected on a number
of graphite showings and EM anomalies. These will be sent for
carbon analysis to determine the purity of the additional potential
targets in the licence area.
-- Several rock grab samples were also collected from the
Amitsoq dyke, which was previously recorded to contained elevated
concentrations of nickel, copper and platinum-group metals
("PGMs").
-- Resistivity-conductivity measurements collected on
graphite-bearing outcrops will be used to enhance the information
determined during the 2016 airborne EM survey.
George Frangeskides, Alba's Executive Chairman, commented:
"We achieved our primary objective during this field campaign,
which was to verify on the ground a large number of the graphite
targets generated during last year's airborne EM survey. But in
addition to that, we are delighted to have discovered significant
new graphite beds on the mainland portion of our licence area which
appear to have purer graphite than the beds we have previously
encountered in and around the Amitsoq mine area. This new zone was
not flown during last year's airborne EM survey as it was not
previously known to host graphite."
"If the apparent higher purity of the graphite in this new
discovery zone can be confirmed through our forthcoming test work,
then this will be a significant development, given that the
graphite we previously tested in and around the Amitsoq mine area
returned grades of more than 25 per cent, which are already amongst
the highest grades of any known graphite project in the world."
"We look forward to assimilating all of the test and other data
in the coming few months so that we can focus our next round of
work on the most high-value graphite zones."
Summary of Completed Fieldwork Programme
A field programme has been completed on Alba's Amitsoq Project
in Southern Greenland. The work was supervised by EurGeol. Dr.
Sandy Archibald, PGeo (Aurum Exploration Services), with assistance
provided by experienced geologists and a team of field assistants
provided by the Municipality of Kujalleq, southern Greenland.
Fieldwork undertaken has included: geological mapping; geochemical
sampling (stream- and scree-sediment, grab sampling and chip
sampling); geophysical activities (ground EM,
resistivity-conductivity); and ground truthing airborne EM and iron
oxide remote sensing anomalies.
The initial field work focused on the graphite occurrences close
to the historic Amitsoq graphite mine. Outcrops containing graphite
were investigated by ground-based geophysics. Geochemical samples
were collected and structural measurements recorded. A 58.5 kg chip
sample was collected for metallurgical testing over a true
thickness of 5.1 m from the upper graphite bed at the Amitsoq mine.
In 2016, a 176 kg sample was collected from the lower (main)
graphite bed at the Amitsoq mine. This bed has true thickness of
16.58 m. At least some of this upper graphite bed appears from a
visual inspection to have higher purity than the previously sampled
lower graphite bed at Amitsoq (the test work from which returned
high grade, +25% graphite).
All accessible graphite occurrences and EM anomaly outcrops were
investigated and samples collected to determine the purity of the
graphite. The location of potential drilling sites close to the
mine site was also investigated.
A new graphite occurrence was located associated with a strong
EM anomaly (known as Target 42), approximately 8.75 km to the
northeast of the former mine. The bed is at least 4.85 m true
thickness and can be traced for 100 metres.
At least three new graphite beds were discovered on the mainland
part of Alba's licence area, 11.5 km north-east of Nanortalik. The
dips of the graphite beds vary from 47 to 71deg with true
thicknesses of 6.3, 4.9 and 3.6 m. The 3.6 m wide bed can be traced
for a distance of 175 metres. The purity appears to be higher than
the lower bed seen on Amitsoq based on the visually lower silicate
content, and corresponding lower density. Geochemical and
petrographic analyses are needed to confirm this observation. This
area was not covered during last year's airborne EM survey and so
represents a new graphite discovery.
As part of a licence-wide investigation for gold and base
metals, 45 stream sediment and eight scree sediment samples were
collected. The main target areas were at Sönder Sermilik on the
northern mainland portion of the licence area, and also close to
Nanortalik where the geology displayed similarities to the nearby
Nalunaq gold mine. Samples were also collected from Amitsoq island
to determine the source of a 2.01 g/t Au pan concentrate sample
collected in 1993 by Atlas Precious Metals Inc.
Several rock grab samples were also collected from the Amitsoq
dyke, which was previously recorded to contained elevated
concentrations of nickel, copper and PGMs.
All samples are currently being exported from Greenland and sent
to accredited assay facilities.
Next Steps
The samples collected during this field campaign will be sent to
a laboratory for assaying. The 58.5 kg graphite chip sample
collected from the upper bed at Amitsoq will be sent for detailed
metallurgical test work, which will enable the Company to compare
its metallurgical properties with the channel sample previously
tested (see the Alba RNS of 12 April 2017).
The results of this assaying, and the further ground EM data
collected in the field, will enable the Company over the next 1-2
months to verify the principal graphite targets for drilling and to
design a maiden drilling campaign.
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 Tel: +44 20 7264
George Frangeskides (Executive 4366
Chairman)
Cairn Financial Advisers LLP Tel: +44 20 7213
(Nomad) 0880
James Caithie/Liam Murray
Dowgate Capital Stockbrokers Tel: +44 1293
Ltd (Broker) 517744
Jason Robertson / Neil Badger
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 fifteen years' 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.
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% 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.
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
END
DRLLFFFFDLIDLID
(END) Dow Jones Newswires
July 18, 2017 02:00 ET (06:00 GMT)
Alba Mineral Resources (LSE:ALBA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Alba Mineral Resources (LSE:ALBA)
Historical Stock Chart
From Jul 2023 to Jul 2024