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Alba looks to 'refine' exploration targets in Greenland and Wales
AIM-quoted firm Alba Mineral Resources provided investors with an update on its mining projects on Wednesday, unveiling results from both its Greenland and Wales-centred programmes.
At the Inglefield Land project in Greenland, Alba has identified four initial high priority targets within the licence that showed anomalous grades of gold, copper, zinc and cobalt, and ongoing testwork at its Thule Black Sands asset revealed ilmenite quality in a TiO2 content range of 45.6% to 47.4% with an average of 46.4% and low contaminants.
Alba is the 100% owner and operator of Inglefield and Thule.
At Amitsoq, in which the firm holds a 90% interest, conceptual gelogical models of two graphite targets within the Greenland licence had also been created.
Over at the Clogau gold project in Wales, where Alba maintained a 49% stake, inital regional targets had been identified after the completion of a geological model to be used for regional exploration.
Alba's executive chairman, George Frangeskides, said, "A lot of work is being undertaken behind the scenes by our technical team as we refine our exploration targets in Greenland and Wales."
"The ongoing testwork and data evaluation across our suite of projects has so far produced promising results. We will keep shareholders updated of further material developments," he added.
As of 0820 BST, Alba shares had lost 2.60%