Business
Award of licences
Award of licences.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n Alba Mineral Resources PLC\n25 October 2006\n\n\n\n\n\nAlba Mineral Resources plc\n\n('Alba' or 'the Company')\n\n\n\nAcquisition of Additional Swedish Exploration Licences\n\nAlba Mineral Resources plc, the UK based exploration company with a diversified\ncommodities portfolio, announces the award of three exploration licences for\nnickel, copper, cobalt, gold, silver, platinum and palladium (totalling 4,863\nhectares) in southern Sweden. These acquisitions form the second part of a\nstrategic partnership with Altius Minerals Corporation (TSX-V: ALS) to explore\nfor magmatic nickel sulphide deposits in Scandinavia. Work programmes have\ncommenced and field programmes are scheduled for early Q2 2007.\n\nHighlights\n\n• Three new exploration licences awarded to Alba in areas considered\nhighly prospective for nickel, copper, cobalt, gold, silver, platinum and\npalladium with mineralization showing comparisons to previously worked mines in\nScandinavia\n\n\n\n• The licence at Kleva contains a past-producing nickel-copper mine (ca.\n54,000 tonnes of ore with a grade of 1.9% Ni) that has an associated magnetic\nanomaly and anomalies of a similar magnitude remain untested within the licence\narea.\n\n\n\nMichael Nott, Managing Director, Alba Mineral Resources commented; 'We are very\nexcited by the untested magnetic anomalies on the Kleva licence, especially when\nyou note that one magnetic anomaly is coincident with the former nickel mine.\nOur new southern Swedish licences present further excellent targets for Alba's\nactivities in Sweden, complementing our four previously announced properties in\nthe north of the country. The Company now has seven licences in Sweden, totaling\n9,363 hectares, giving us a strong ground position in prospective geological\nareas. I believe our ground in Sweden, in conjunction with our Arthrath nickel\nproject in Scotland, which is worked in partnership with Inco, means Alba is\nfast becoming a significant player in nickel exploration in Europe at a time of\nrecord nickel prices'.\n\n\n\nGranting of Exploration Licences\n\nA work programme has commenced with database construction and detailed target\ngeneration studies with field sampling programmes planned during the first half\nof 2007.\n\nThe licences award Alba the rights to explore for nickel (Ni), copper (Cu),\ncobalt (Co), gold (Au), sil...