Award Of Exploration Permits

RNS Number : 4138Y

Alba Mineral Resources PLC

07 July 2008

 



ALBA MINERAL RESOURCES PLC ('ALBA' OR THE 'COMPANY')

AWARD OF EXPLORATION PERMITS IN MAURITANIA

AND

IDENTIFICATION OF URANIUM MINERALISATION

Further to the announcement made by the Company on 28 February 2008, Alba, the UK based exploration company announces the award of a further two exploration permits in Mauritania and the identification of uranium mineralisation.

HIGHLIGHTS

• Alba's 50 per cent. owned UK subsidiary Mauritania Ventures Limited ('MVL') awarded two additional uranium exploration permits in northern Mauritania 

• Ground-based exploration confirms presence of uranium mineralisation coincident with airborne anomalies 
  
• Uranium grades (up to 0.092% U3O8) identified during fieldwork

• Zinc and lead mineralisation identified in carbonate rocks

AWARD OF SIXTH AND SEVENTH EXPLORATION PERMITS

The Company is pleased to announce that at a meeting of the Mauritania Council of Ministers MVL was awarded two additional uranium exploration permits (422 and 603), which cover an area of 2,898 square km, in northern Mauritania. MVL now have a total of seven uranium exploration permits in Mauritania which cover an area of 10,440 square km.

IDENTIFICATION OF URANIUM MINERALS DURING FIELDWORK

Detailed target generation studies using remote sensing and airborne geophysics data were employed to identify potential uraniferous targets. Based on this desktop study 38 primary uranium targets were identified and ground-based exploration was carried out in February 2008 on permit numbers 314, 315, 422, 603. Seventeen of the most prospective targets were explored using a ground-based scintillometer. Surface gamma-ray count rates of up to 1300 counts per second (cps) were recorded at four of the targets. Follow-up trenching on the highest surface anomaly resulted in a count rate of 17,200 cps at a depth of 60 cm and the ubiquitous presence of a yellow radioactive mineral. Later analysis at the CREGU Laboratory, Nancy, France, identified this mineral as uranium-bearing and belonging to the tyuyamunite mineral group (Ca(UO2)2V2O8,5-8(H2O)). 

Subsequent geochemical analysis performed at OMAC Laboratories, Ireland, has determined that all 48 channel and grab samples collected during the February-March programme contained uranium. These samples are from 15 of the 19 most prospective uranium targets. Two of the showings, Dahmane (T80H) and Moutal (TT81) had scintillometer readings over 5,000 cps. Some of the highest assays were obtained from Dahmane (0.092% U3O8), Moutal (0.026% U3O8) and T75W (0.019% U3O8). A total of 11 of the 48 samples assayed over 50 ppm uranium (>0.006% U3O8) and 5 samples over 200 ppm uranium (>0.0234% U3O8). Low-grade uranium ore typically ranges from 300 to 20,000 ppm uranium. 

The mineralisation occurs in two distinct geological settings, either at the weathered contact of granites in the Reguibat Shield (e.g., Dahmane and Moutal showings, permit number 442) or close to the Reguibat Shield-Taoudeni Basin unconformity at the contact between a sandstone unit and the overlying limestone. Evidence of secondary enrichment is also present.

Based on initial observations during this fieldwork a second exploration programme was undertaken in April 2008 to define the extent of the discovered mineralisation at the Dahmane and Moutal showings. Detailed ground-based grids confirmed that the Dahmane showing was approximately 300m long and 10m wide and gave a maximum gamma-radiation reading of 18,043 cps. Abundant uranium-bearing minerals were observed from a depth of 50cm to 1.5m at the base of two hand-dug trenches 100 m apart. Follow-up work on the Moutal showing defined at least four anomalous areas over a 700 x 700 metre area. The maximum gamma radiation measurement was 7,245 cps at a depth of 90 cm. Two trenches in this area recovered silicrete nodules in the regolith that displayed yellow uranium minerals in vugs and fractures. The findings of this exploration programme will be reported in detail when the laboratory results are available.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/4138Y_1-2008-7-4.pdf 

DISCOVERY OF ZINC AND LEAD MINERALISATION

Limited prospecting was carried out in permit area 314 (where MVL owns the base metal mineral rights) to assess the potential of carbonate-hosted zinc and lead mineralisation associated with Proterozoic reef complexes, akin to the Mississippi Valley-Type (MVT) class of deposit. Anomalous concentrations of base metals were recorded from the reef complex including isolated ironstone nodules and veinlets that contained up to 13.6 % zinc, 0.3 % lead and 1.76 g/t silver. Typical ore grades for MVT deposits vary between 5% and 10 % combined lead and zinc. It is anticipated that additional fieldwork will be carried out in this area during the next field visit to determine the exploration potential of this unit.

MANAGING DIRECTORS' STATEMENT

Michael Nott, Managing Director, Alba Mineral Resources commented, 'We are pleased to have been awarded an additional two exploration permit in Mauritania, where we have established a large ground position now totalling some 10,440 square kilometres on especially prospective ground. Field-based exploration on these permits has been particularly successful with the discovery of uranium minerals in several of the targets, and the presence of individual samples that are of ore-grade. We are eagerly awaiting the laboratory results of our follow-up survey carried out in April 2008.

The discovery of carbonate-hosted zinc and lead mineralisation in the reefs of the Taoudeni Basin was a positive result as it vindicates our exploration model for the permit. We hope to conduct further work to assess the potential of this poorly explored area.''

Enquiries:

Michael Nott, Managing Director 

Alba Mineral Resources plc                                                        Tel: [phone]

Liam Murray, Nominated Adviser

Dowgate Capital Advisers Limited                                                Tel: [phone]

QUALIFIED PERSON STATEMENT

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 'JORC Code') sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information contained in this announcement has been presented in accordance with the JORC Code.

Dr Sandy M. Archibald (B.Sc., M.Sc., Ph.D.) Technical Director of Alba has reviewed the information contained herein. Dr. Archibald has suitable experience and qualifications, which is relevant to the style of mineralisation under consideration and to the activity he is undertaking as a qualified person as defined by the Guidance Note for Mining and Oil & Gas Companies under the AIM Rules for Companies.

NOTES TO THE EDITORS

Alba Mineral Resources plc is a committed, technically driven explorer with a commodity focus on uranium, nickel and gold. Alba currently has interests in a number of well researched properties owned in its own right or in conjunction with other parties, primarily in Scotland, Mauritania and Sweden. The Company also has gold and base metal interests in Scotland and Ireland.

The Company's overall corporate and exploration strategy will continue to be one of developing a portfolio of well-researched, promising and prospective exploration properties that will be pursued further, either in the Company's own right or in conjunction with other parties.

To create and realise value, projects will be either sold outright (in whole or part), spun off into a separate company, joint ventured to include a cash consideration and/or maintaining a 'Net Smelter Return' or developed into operating mines. The Company has a principal focus on the Arthrath nickel-copper-platinum group elements project in Scotland, the uranium and copper-gold project in Mauritania, and the nickel and copper-gold project in Sweden.

 

END

 

 

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