Business
Renewal of Limerick Licence and Greenland Update
Renewal of Limerick Licence and Greenland Update.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8408K\n Alba Mineral Resources PLC\n 07 January 2021\n \n \n \n \n Click on or paste the following link into your website browser to view the associated PDF document (including maps and images): \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/8408K_1-2021-1-6.pdf\n \n \n \n \n \n Alba Mineral Resources plc\n \n \n \n (\"Alba\" or the \"Company\")\n \n \n \n \n \n Renewal of Limerick Base Metals Project\n \n \n Reduction of Greenland 2021 Expenditure Obligations \n \n \n \n \n \n Alba Mineral Resources plc (AIM: ALBA) is pleased to confirm that the exploration licence for the Company's Limerick Base Metals Project (under Prospecting Licence (\"PL\") 3824) has been renewed until 26 May 2022. The Company also notes the decision by the Government of Greenland to reduce the expenditure obligations in 2021 for all mineral exploration licences to zero.\n \n \n \n \n \n Key points\n \n \n \n \n \n ·\n The mineral exploration licence for the Limerick Base Metals Project, PL 3824, has been renewed until 26 May 2022.\n \n \n · \n Alba is in the process of determining the next phase of exploration activities at the Limerick Base Metals Project, which may include the drilling of key zinc targets.\n \n \n ·\n The Government of Greenland has decided to roll over to 2021 the initiatives which were first applied in 2020 in response to the COVID-19 pandemic, so that for all mineral exploration licences in Greenland the exploration expenditure obligations for the year 2021 will be reduced to zero and the existing licence period will be extended by one year.\n \n \n \n \n \n \n George Frangeskides, Executive Chairman, commented\n \n : \n \n \n \n \n \n \"We are delighted to be able to confirm the renewal of the exploration licence for our Limerick Base Metals Project. Our Project is situated in the Irish Zinc Ore Field, the location of a number of high-grade zinc-lead deposits. The region has been the site of renewed drilling activity in recent years, and we look forward to renewing our exploration for high-grade zinc on our licence area in the coming months.\"\n \n \n \n \n \n \"In Greenland, the Government's decision to renew for a further year the measures it first introduced in 2020 to assist licensees facing the challenges of t...