31st Oct 2018 11:25
LONDON (Alliance News) - Alba Mineral Resources PLC on Wednesday said a sampling programme at its Inglefield Land polymetallic project indicates large-scale mineralising systems.
The recent reconnaissance sampling programme at Inglefield, which is located in north-west Greenland, produced results which complement those of the previous operator, the company said, adding that both sets of data indicated "extensive mineralisation potential over significant strike lengths".
Soil samples identified polymetallic gold-silver-molybdenum mineralisation at the target with gold grades up to 0.7 grams of gold per tonne of ore; silver grades up to 13 grams per tonne of ore; copper grades up to 0.2%; and molybdenum grades up to 0.1%.
The mining company also noted that the identified mineralisation confirms the copper-gold potential of Inglefield, similar to deposits of the porphyry copper/iron oxide-copper-gold style.
"Given the potential significance of such a discovery, this is something we intend to focus our future work on at our Inglefield Land project, both in terms of the further geological and geophysical analysis to be undertaken over the winter as well as the follow-up field exploration planned for 2019," said Alba Mineral Executive Chairman George Frangeskides.
Shares in Alba Mineral were up 1.6% at 0.42 pence on Wednesday.
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