4th Feb 2016 10:31
LONDON (Alliance News) - Alba Mineral Resources PLC on Thursday said it has had "highly encouraging" results from an iron-oxide alteration remote sensing study on the Amitsoq graphite project near Nanortalik in southern Greenland.
"The main commodity emphasis is graphite, and several anomalies suggest numerous and continuous horizons along strike and proximal to the Amitsoq graphite mine. We have previously demonstrated that Amitsoq contains large flake size graphite and is of a high-grade," Chief Executive Mike Nott said in a statement.
"The next phase of exploration involves an airborne geophysical survey, followed by the ground checking of coincident alteration and geophysical targets. If results are positive, then an exploration drilling programme to estimate the thickness and continuity of the graphite horizons will begin," Nott added.
PhotoSat of Vancouver, Canada was commissioned to complete the iron-oxide remote sensing study using 50-centimetre pixel resolution WorldView-2 satellite images.
Shares in Alba were down 0.1% at 0.2698 pence on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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