Operational Update

RNS Number : 2567Y

Alba Mineral Resources PLC

07 September 2020

 

Alba Mineral Resources plc

("Alba" or the "Company")

Operational Update

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to provide an update on the Company's activities.  

Further to our announcement on 22 July 2020, we are pleased to report that the Snowdonia National Park Authority ("SNPA") has granted planning permission for Alba's proposed regional surface trenching programme, subject to conditions. The Company believes that it will be able to fulfil the conditions attaching to the permission.

The Company also confirms, further to our announcement of 14 August 2020, that the underground bulk sampling and drilling programme has now commenced. The Company does not expect to release results until following the end of the programme and once laboratory assay results have been analysed and assessed. The underground bulk sampling and drilling programme is expected to run for the month of September 2020, with assay results to be issued some time thereafter, depending on the normal timelines and workloads of the independent assay laboratory.

Finally, further to our announcement of 3 April 2020, in which the Company reported that in response to the Coronavirus pandemic the Government of Greenland had reduced the exploration obligations for 2020 to zero for all mineral exploration licences (including those held by the Alba group), the Government has now further confirmed that all mineral exploration licences (including those held by the Alba group) are being extended by one year to make up for what is considered to have been effectively a lost year for exploration in Greenland. 

Alba welcomes this decision by the Government of Greenland, and indeed had actively lobbied for this outcome. This decision is seen by the Company as a reinforcement of Greenland's continued pro-mining outlook. 

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

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP (Nomad)  James Caithie / Liam Murray	[phone]
First Equity Limited (Broker) Jason Robertson	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

 

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