Alba Mineral Resources PLC
13 December 2007
Alba Mineral Resources plc ('Alba' or 'the Company')
Trading update
Alba Mineral Resources plc, the UK-based exploration company, announces it has
recommenced active fieldwork exploration following a recently completed
fundraising.
Mauritania Ventures Ltd (MVL), in which Alba has a 50% interest, is pleased to
announce that preliminary fieldwork has commenced on the licences MV9 to 13 in
southern Mauritania. These licences show the potential to host
iron-oxide-copper-gold (IOCG) mineralization.
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 kilometres to the northwest of
MVL's southern licences.
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related to this announcement:
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MVL has also recently submitted a further licence application (MV14) to explore
for rhyolite-breccia hosted uranium mineralization in the north of the country.
This licence was selected based on favourable geology and a coincident airborne
uranium anomaly. Detailed fieldwork will take place on the northern licences
in the first quarter of 2008.
The Company will continue to undertake all fieldwork within its current
financial resources.
Michael Nott, Group Managing Director and Chairman, commented, 'We are pleased
to report that our fieldwork in Mauritania has recommenced, and look forward to
reporting the results of our reconnaissance work on the southern permits. We
believe Mauritania to be under-explored and that the country has excellent
potential to host additional economic mineralization.''
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.
13 December 2007
ENDS
Enquiries
Michael Nott, Managing Director and Chairman
Alba Mineral Resources plc Tel: +44 (0)20 7495 5326
Liam Murray, Nominated Adviser
City Financial Associates Tel: +44 (0)20 7492 4777
Notes to Editors
Alba Mineral Resources plc is a junior 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 and also has gold and base
metal interests in Ireland.
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 a 'Net Smelter Return' or developed into operating mines.
The Company's principal focus is on the Arthrath nickel-copper-platinum group
metals project in Scotland, uranium and copper-gold in Mauritania, and nickel
and copper-gold in Sweden.
Precious and base metal properties in Ireland and Scotland will continue to form
part of the company portfolio, with a view to seeking joint ventures on each
where warranted.
Geology and Mineral Potential of the Mauritania Permits
The uranium permits held by MVL and one of the uranium permits pending 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.
END
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