Business
Mining Exploration Portfolio Update
Mining Exploration Portfolio Update.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 7980H\n Alba Mineral Resources PLC\n 27 March 2020\n \n \n \n \n \n \n \n Alba Mineral Resources plc\n \n \n (\"Alba\" or \"the Company\")\n \n \n \n \n \n Mining Exploration Portfolio Update\n \n \n \n \n \n Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company,\n announces the following changes in relation to its exploration licence portfolio:\n \n \n \n \n \n Greenland\n \n \n \n \n \n \n Amitsoq Graphite Project\n \n (Mineral Exploration Licence (\"MEL\") 2013-06)\n : The licence area has been reduced from 146 km² to ~48 km². All existing areas of interest have been retained, including the full extent of the Amitsoq and Kalaaq graphite deposits.\n \n \n \n \n \n \n Inglefield Multi-Element Project\n \n (MEL 2017-40 and MEL 2018-25):\n MEL 2018-25 has been reduced in size from 466 km² to ~88 km². The key Four Finger Iron-Ore-Copper-Gold (\"IOCG\") Target has been retained. \n \n \n \n \n \n In addition, the Company has applied for MEL 2017-40 to be relinquished in full. This licence was taken out in 2017 when the main Inglefield Project areas were still under licence to the previous operator. Once those main areas became free for application, they were then incorporated within MEL 2018-25 which was granted to Alba the following year. As such, MEL 2017-40 is considered of moderate interest when compared to MEL 2018-25. The Company is in discussions with the Mineral and Licensing Authority of Greenland regarding the requirements to formalise the relinquishment.\n \n \n \n \n \n \n Melville Bay Iron Ore Project\n \n (MEL 2017-41)\n : The licence area has been reduced from 53 km² to ~17km². The area incorporating the existing defined JORC-compliant Inferred Resource (67 million tonnes at 31.4% Fe (iron ore)) has been retained, together with all other areas of historic drilling.\n \n \n \n \n \n No changes have been made to MEL 2017-29, the licence area for the Alba Group's 100% owned Thule Black Sands Ilmenite Project (\"TBS\"). TBS continues to benefit from an existing defined JORC-compliant Inferred Mineral Resource of 19 million tonnes at 43.6% Total Heavy Minerals (THM), with an in-situ ilmenite grade of 8.9%, being one of the highest in-situ grades of any ilmenite project in the worl...