30th Nov 2015 15:29
LONDON (Alliance News) - Alba Mineral Resources PLC said it had seen "highly encouraging" results from a preliminary study at its Amitsoq graphite project in Greenland.
The company said that a field visit had recently been completed at the site with the objective of determining access to the historic mine site, to ascertain the suitability of locating drill rigs in the area, to safely access any open workings, and to collect representative samples of one of the worked graphite horizons to determine carbon content and flake size.
Eleven samples were independently analysed in Copenhagen and present a range of graphite carbon contents from 20.5% to 35.4%, Alba said. It will need to undertake additional metallurgical test work to determine the total recoverable graphitic carbon. The samples will now be sent to an independent laboratory to determine the presence of harmful or damaging elements and to quantify the level of sulphides.
"The results from this preliminary study are highly encouraging. We have demonstrated that Amitsoq contains large flake size graphite and appears to be of a high grade. Both of these factors provide great encouragement for future work and development at Amitsoq," said Chief Executive Officer Mike Nott in a statement.
"The priority for Alba is to now determine the graphite prospectivity on other parts of the licence by using modern remote sensing and airborne geophysical techniques. The results of these surveys can then be used to prove continuity and to plan an exploration drilling programme to estimate the thickness and to confirm continuity of the graphite horizons known to exist in the project area," Nott added.
Shares in Alba Mineral were down 17% at 0.237 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Alba Mineral Resources