2nd May 2018 15:57
LONDON (Alliance News) - Alba Mineral Resources PLC on Wednesday said testwork is progressing well across its mining project portfolio as it identifies new target areas on all of its licenses.
The investor in oil and mining projects said it has identified additional target areas of gold, copper, zinc and cobalt at its Inglefield Land project in Greenland.
It now plans to undertake further desktop-based geological and geophysical studies to assess the most appropriate field techniques to be applied during the forthcoming work.
At Alba's Thule Black Sands project in Greenland, which is owned via subsidiary White Eagle Resources Ltd, testwork showed samples containing an average of 46% ilmenite and very low contaminant levels.
The company intends to continue its maiden sampling campaign shortly to test two mini bulk samples for the potential to produce an ilmenite product.
In addition, the company said it has compiled a regional geological model to generate regional exploration targets across the Clogau project in Wales. It identified numerous targets but plans to focus efforts on the two targets in closest proximity to the Clogau-St David's gold mine.
Finally, the company said it created conceptual geological models for both the Amitsoq and Kalaaq targets in Greenland, which will assist it in the planning of future graphite exploration campaigns.
"A lot of work is being undertaken behind the scenes by our technical team as we refine our exploration targets in Greenland and Wales," said Executive Chairman George Frangeskides. "The ongoing testwork and data evaluation across our suite of projects has so far produced promising results."
The stock was trading 9.8% lower at 0.35 pence per share on Wednesday.
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