TIDMALBA
RNS Number : 0587H
Alba Mineral Resources PLC
04 April 2022
Alba Mineral Resources plc
("Alba" or the "Company")
Investee Company Update: GreenRoc Mining plc
Alba Mineral Resources plc (AIM: ALBA) is pleased to note the
announcement today by its portfolio company, GreenRoc Mining plc
("GreenRoc") (AIM: GROC). Alba holds a 54% majority interest in
GreenRoc.
The announcement by GreenRoc is set out below without material
change:
GreenRoc Mining plc
("GreenRoc" or the "Company")
Appointment of Contractors for EIA and SIA
at Thule Black Sands Ilmenite Project, Greenland
GreenRoc Mining plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased
to announce that it has appointed two highly experienced
independent consulting firms to undertake an Environmental Impact
Assessment ('EIA') and a Social Impact Assessment ('SIA') at its
Thule Black Sands Ilmenite Project in north-west Greenland ('TBS'
or the 'Project').
BioApp Greenland, a Danish/Greenlandic-based contractor and
environmental expert with extensive operational experience in
Greenland, will be responsible for completing an EIA in compliance
with the requirements of the Greenlandic authorities. An EIA is an
environmental decision support tool to the authorities who issue
licences for mining development projects. The EIA provides
information on the possible impacts of mining development projects
on the environment and proposes actions to mitigate impacts as far
as practicable.
NIRAS A/S ('NIRAS'), a Danish/Greenlandic multi-disciplinary
engineering consultancy, has been appointed to undertake the SIA.
With extensive expertise and operational experience in Greenland,
NIRAS is familiar with the requirements of Greenlandic laws,
frameworks and guidelines for the SIA. The objective of the SIA is
to ensure that a mining development maximises its benefits and
minimises its potential negative impacts on society and local
communities.
A JORC resource capable of supporting a mining operation, along
with the formal approval of an EIA and an SIA, are the necessary
precursors to an application for a Mining Licence in Greenland. TBS
currently benefits from a maiden Mineral Resource of 19Mt with an
in-situ ilmenite grade of 8.9% and awaits the assessment by mineral
sands experts IHC Mining of the 249-hole follow-up drilling
programme undertaken in the summer of 2021. These three
undertakings will be the key building blocks in fast tracking TBS
in the mine development process.
GreenRoc's CEO, Kirk Adams, commented:
" The appointment of Denmark's BioApp and NIRAS groups marks a
key development in the permitting application for our Thule Black
Sands Ilmenite Project. With extensive knowledge and experience of
Greenland's environmental and social landscapes and operating
requirements, BioApp and NIRAS are ideally placed to manage the EIA
and SIA work, which will in turn form a key part of our Mining
Licence application for TBS.
"These appointments are evidence of our confidence in the
significant potential of TBS and of our clear aim to fast track the
Project's development as swiftly as possible. Having already
defined a sizeable resource of 19Mt @ 43.6% THM, we are on track to
expand this further and to build resource confidence through the
results of our 2021 drill programme, which are due in the coming
weeks.
"We are confident that these results will firmly establish TBS
as a major new ilmenite source, at a time when global demand
continues to outstrip supply."
**ENDS**
For further information, please contact:
For further information, please visit www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Max Bennett alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 54%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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 timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
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END
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