2nd Mar 2007 12:19
Alba Mineral Resources PLC02 March 2007 Alba Mineral Resources plc ("Alba" or "the Company") Award of Additional Swedish Licence Alba Mineral Resources plc, the UK-based exploration company, with a diversifiedcommodities portfolio, announces the award of a ninth exploration licence innorthern Sweden. This acquisition forms part of a strategic partnership withAltius Minerals Corporation (TSX-V: ALS) to explore for magmatic nickel sulphidedeposits in Scandinavia. Highlights • Award of the Kalen exploration licence in northern Sweden, for nickel, copper, cobalt, gold, silver and platinum group metals (PGM) • Alba's ninth exploration licence in Sweden, is considered by Alba technical staff to be highly prospective for ultramafic sill-hosted Ni-Cu-Co-PGM mineralization. • Kalen licence contains known sulphide mineralization and lies 24 km south-west of the Rormyrberget nickel - copper occurrence The Kalen licence (total area 5.12km2) is centred on an ultramafic intrusionthat contains known disseminated sulphide mineralization. Kalen is located 24km south-west of the Rormyrberget Ni-Cu prospect where 4 Mt of mineralizationwith a grade of 0.6% Ni has been identified by previous drilling. Workprogrammes have commenced and the company anticipates field work to begin inearly Q2, and will consist of ground based geophysics, lithogeochemistry andsoil sampling. Michael Nott, Group Managing Director and Chairman commented, 'The granting ofthe Kalen licence now brings our total number of Swedish licences to nine. Wehave secured what we believe to be highly prospective areas fornickel-copper-PGM mineralization in the Vindeln Nickel Belt which we consider tohave geological similarities with the Thompson Nickel Belt of Canada.' ENDS Enquiries Michael Nott, Managing DirectorAlba Mineral Resources plc Tel: +44 (0)20 7495 5326 Justine Howarth / Victoria ThomasParkgreen Communications Tel: +44 (0)20 7851 7480 Liam MurrayCity Financial Associates Tel: +44 (0)20 7090 7800 Notes to Editors Alba Mineral Resources plc is a committed, technically driven explorer with acommodity focus on uranium, nickel and gold. Alba currently has interests in anumber of well researched properties owned in its own right or in conjunctionwith other parties, primarily in Scotland, Mauritania and Sweden. The Companyalso has gold and base metal interests in Scotland and Ireland. The Company's overall corporate and exploration strategy will continue to be oneof developing a portfolio of well-researched, promising and prospectiveexploration properties that will be pursued further, either in the Company's ownright or in conjunction with other parties. To create value, projects will be either sold outright (in whole or part), spunoff into a separate company, joint ventured to include a cash consideration and/or a 'Net Smelter Return' or developed into operating mines. The Company willhave a principal focus on the Arthrath nickel-copper-platinum group metalsproject in Scotland, uranium and copper-gold in Mauritania, and nickel andcopper-gold in Sweden. Alba will actively assess, as a priority, the uranium potential of the threeuranium permits awarded in Mauritania, and are committed to continuing nickelexploration in Sweden as part of a collaborative exploration effort part fundedby the Altius Minerals Corporation of Canada. Precious- and base- metal properties in Ireland and Scotland will continue toform part of the company portfolio and will be carried forward on a timelybasis, with a view to seeking joint ventures on each where warranted. Policies on Environment, Community & Social Responsibility and Safety It is the objective of Alba Mineral Resources not only to increase value for ourshareholders, but to do so in a socially and environmentally responsible manner.We expect employees and contractors alike, to respect the cultures andtraditions of the communities we work with, and in. Alba is a member of Environmental Excellence in Exploration (E3) a projectcoordinated by the Prospectors & Developers Association of Canada (PDAC). As aminimum standard we will abide by the applicable environmental laws within theadministrative areas that we work and ensure that all our employees have theright to a safe and healthy working environment. Geology and Mineral Potential of the Northern Sweden Licences The bedrock geology to the Vindeln Nickel Belt is a 1.90 Ga metamorphosed riftsedimentary sequence intruded by ultramafic sills. Ultramafic sills(intrusions) and lava flows are known to be intimately associated with theformation of magmatic sulphide mineral deposits. The geology and the knownmineralization in the Vindeln Nickel Belt show similarities to the world-classThompson Nickel Belt (Manitoba, Canada). The Thompson Nickel Belt annuallyproduces more than 45,000 tonnes of nickel metal. Nickel sulphide mineralizationin the Vindeln Nickel Belt occurs as disseminated to massive sulphide andbreccia sulphide in ultramafic rock intruded into the rift stratigraphy andoften extends into the wall rock. The Company believes the licences awarded by the Swedish Mining Inspectorate(Bergsstaten) in northern Sweden are prospective for nickel mineralization basedon bedrock geology, overburden geochemistry, geophysics and proximity to knownsulphide accumulations. For example, the Company's Furuberget licence is only 6km along strike from the known historical drilled nickel occurrence ofRormyrberget: 4 Mt with a grade of 0.6% using a 0.4% Ni cut-off (source SwedishGeological Survey, SGU). The information contained in this report that relates to mineralisation is basedon the information compiled by a Swedish Geological Survey (SGU), 1986. Dr Sandy M. Archibald BSc. MSc. PhD, Technical Director of Alba has reviewed theinformation contained herein. Dr. Archibald has sufficient experience, which is relevant to the style ofmineralisation under consideration and to the activity he is undertaking as aqualified person as defined by the Guidance Note for Mining and Oil & GasCompanies under the AIM Rules for Companies. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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