Fieldwork Recommences
Alba Mineral Resources PLC
28 February 2008
Alba Mineral Resources plc
('Alba' or 'the Company')
Mauritania Fieldwork Recommences
Alba Mineral Resources plc, the UK-based exploration company announces it's 50%
owned UK subsidiary Mauritania Ventures Limited (MVL) has commenced a new season
of uranium exploration fieldwork in northern Mauritania.
Highlights
• Recommencement of uranium fieldwork in northern Mauritania
• Remote sensing alteration and structural study of ASTER satellite images
completed with 27 targets for follow-up investigation identified
• 10 additional uranium targets identified based on airborne gamma-ray
interpertation
• The first phase of Iron oxide-copper-gold (IOCG) reconnaissance
exploration in southern Mauritania has been completed and results will be
announced shortly
The Company is pleased to announce that MVL, their 50% owned UK subsidiary has
commenced fieldwork on their two uranium exploration permits (315 and 316),
which cover an area of 2,993 km(2), in northern Mauritania. In addition, the
Mauritanian Department of Mines has given permission to MVL to conduct
exploration in an area under application known as MV14, totalling 1,496 km(2).
The initial phase of fieldwork is currently being undertaken in the licence
areas. This fieldwork is focusing on 37 targets identified by Alba technical
staff and an ASTER satellite (remote sensing) study by Murphy Geological
Services. Ten (10) highly anomalous areas, within the 37 targets, were also
identified using airborne radiometric survey data commissioned by the Government
of Mauritania and flown by Fugro Airborne Surveys. Work that will be carried out
will include ground-based radiometric surveying, lithogeochemical sampling and
reconnaissance mapping. Analytical results and an interpretation of this phase
of fieldwork will be the subject of a future update.
Results from the reconnaissance field programme carried out in 5 areas under
application in mid-December are pending. This fieldwork was carried out to
investigate the iron oxide-copper-gold (IOCG) potential and logistics of MV9 to
MV13. The Mauritanide Belt hosts the Guelb Moghrein mine (23.7 Mt grading 1.88%
Cu,1.41 g/t Au, and 143 ppm Co), which lies 260 km to the northwest of MVL's
southern licences.
Paste the following link into your web browser to download a map related to this
announcement:
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Managing Director's Statement
Michael Nott, Group Managing Director and Chairman, commented, 'We are please to
report that our second phase of fieldwork in northern Mauritania has begun, and
look forward to reporting the results of our reconnaissance work on the northern
permits as well as our sampling programme on the IOCG targets in the south of
the country. We believe Mauritania to be under-explored and that the country has
excellent potential to host additional economic mineralization.'
ENDS
Enquiries
Michael Nott, Managing Director
Alba Mineral Resources plc Tel: +44 (0) 20 7495 5326
Liam Murray, Director
City Financial Associates Ltd Tel: +44 (0) 20 7492 4777
Notes to 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 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 will have a principal focus on the Arthrath nickel-copper-platinum group
elements project in Scotland, uranium and copper-gold in Mauritania, and nickel
and copper-gold in Sweden.
Alba will actively assess, as a priority, the uranium potential of the three
uranium permits awarded in Mauritania, and are fully committed to continuing
nickel exploration in Sweden as part of a collaborative exploration effort part
funded by the Altius Minerals Corporation of Canada.
Precious- and base- metal properties in Ireland and Scotland will continue to
form part of the company portfolio and will be carried forward on a timely
basis, with a view to seeking joint ventures on each where warranted.
Geology and Mineral Potential of the Mauritania Permits
The three uranium permits held, and the three uranium permits pending, by MVL
are considered by the Company to be highly prospective for hosting
unconformity-type uranium mineralization, analogous to that seen in the
Athabasca region of Canada. The permits awarded cover significant areas of an
unconformable contact between early Proterozoic reworked granitic terrane and
overlying sediments of late Proterozoic to Carboniferous age.
Airborne geophysics flown on behalf of the Mauritanian Government indicates
radiometric anomalies within organic-rich units near the base of these
sedimentary sequences, coincident with large, deep-penetrating crustal shear
structures. Uranium mineralization is known to the north and northwest of the
permit area, and is hosted in granites and rhyolites cut by these shear
structures. Airborne radiometrics has been shown to be an effective technique
in uranium exploration in Niger where radiometric anomalies are associated with
all known uranium deposits in the area surrounding the Arlit and Akouta uranium
mines in the east of the country. Niger, some 2000 km east of MVL's current
exploration activity, is the world's third largest producer of uranium after
Canada and Australia.
Dr Sandy M. Archibald (B.Sc., M.Sc., Ph.D.) Technical Director of Alba has
reviewed the information contained herein. Dr. Archibald has sufficient
experience, which is relevant to the style of mineralization 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.
This information is provided by RNS
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