14th Apr 2016 11:09
LONDON (Alliance News) - Alba Mineral Resources PLC said results from geochemistry assays at the Amitsoq graphite project in Greenland are "gratifying", as they confirm results from a previous petrographic study conducted by British Geological Survey.
Alba Mineral proposes to follow up this work with an airborne electromagnetic and magnetic study to help define the geology of the project and identify graphitic horizons. If warranted, it will undertake follow-up exploration and resource definition drilling.
"The results from the geochemistry study are gratifying. They confirm many of the conclusions of the BGS petrography study regarding the presence of pyrite and the high grade graphite present in the samples. The trace element geochemistry confirms that no elevated concentrations of harmful elements are present in the graphite," said Chief Executive Officer Mike Nott.
"We eagerly look forward to the next phase of exploration, which will involve an airborne geophysical survey and follow-up fieldwork. After appraising the geophysical results, we hope to initiate a drilling programme to determine the thickness and continuity of the graphite horizons on the project," Nott added.
Shares in Alba Minerals were up 0.7% at 0.382 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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