Horse Hill Update

RNS Number : 1690Q

Alba Mineral Resources PLC

08 September 2017

 

Alba Mineral Resources plc

("Alba" or the "Company")

Flow Testing and Further Drilling Permits Granted by Environment Agency

Horse Hill Project, Weald Basin, UK

The Company announces that it has been informed by Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246, containing the Horse Hill-1 ("HH-1") oil discovery, that the Environment Agency has granted the necessary permits to enable HHDL to carry out extended flow tests at HH-1, store any produced oil and to drill and test both a side-track from the existing HH-1 well and a new borehole HH-2. 

In respect of HHDL's planning application for long-term production testing and further appraisal drilling, the Company has been informed by HHDL that Surrey County Council (the "Council") has confirmed that this application is now scheduled to be determined at October's meeting of the Council's planning committee.  Members of the planning committee completed a scheduled visit to the Horse Hill site yesterday, 7 September, in preparation for the October meeting.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Dowgate Capital Stockbrokers Ltd Neil Badger	[phone]

Alba's Project Portfolio

Oil & Gas

Horse Hill (Oil & Gas, UK): Alba holds a 15 per cent interest in Horse Hill Developments Limited, the company which has a 65 per cent participating interest and operatorship of the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK Weald Basin.

Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.

Mining

Amitsoq (Graphite, Greenland):  Alba owns a 90 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has an option over the remaining 10 per cent. 

Black Sands (Ilmenite, Greenland):  Alba owns 100 per cent of mineral exploration licences 2017/29 and 2017/39 in the Thule region, north-west Greenland.

Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per cent interest in mineral exploration licence 2017/41 in Melville Bay, north-west Greenland.  The licence area benefits from an existing inferred JORC resource of 67 Mt @ 31.4% Fe.

Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence 2017/40 in north-west Greenland.

Limerick (Base Metals, Ireland): Alba has 100 per cent of the Limerick base metal project in the Republic of Ireland.

El Mreiti (Uranium, Mauritania): Alba has applied for the reissue of a uranium permit in northern Mauritania, centred on known uranium-bearing showings.

Alba continues actively to review numerous other project opportunities which have value-enhancing potential for the Company whether by bolt-on or stand-alone acquisition, farm in or joint venture.

Web: www.albamineralresources.com

 

END

 

 

UPDSSEFWWFWSELU