Market News

Alba pleased with latest results from Inglefield Land

31/10/2018 14:49

(Sharecast News) - Diversified mineral exploration and development company Alba Mineral Resources reported results from the recent reconnaissance sampling programme completed at its 100%-owned Inglefield Land polymetallic project in north-west Greenland on Wednesday. The AIM-traded firm said the identified mineralisation confirmed copper-gold potential, with an assemblage akin to porphyry copper/iron oxide-copper-gold style deposits. It said the new results complemented the results obtained by the previous operator, with both sets of assay data showing "extensive" mineralisation potential over "significant" strike lengths. Polymetallic gold-copper-silver mineralisation was identified at the Kap Agassiz/Bear Island target, with channel sample gold grades up to 0.65 g/t, rock sample copper grades up to 1.65%, and rock sample silver grades up to 18.6 g/t. Soil sample polymetallic gold-copper-silver-molybdenum mineralisation was also identified at the Four-Finger target, with gold grades up to 0.36 g/t, copper grades up to 0.18%, silver grades up to 13.35 g/t, and molybdenum grades up to 0.11%. "The indications from these assay results is that large-scale mineralising systems exist in Alba's licence areas and that this could indicate the presence of porphyry copper and/or IOCG systems," said Alba's executive chairman George Frangeskides. "These deposits are typically polymetallic and very large in scale. "Given the potential significance of such a discovery, this is something we intend to focus our future work on at our Inglefield Land Project, both in terms of the further geological and geophysical analysis to be undertaken over the winter as well as the follow-up field exploration planned for 2019."

Investors should be aware that past performance is not a reliable indicator of future results and that the price of shares and other investments, may fall as well as rise and the amount realised may be less than the original sum invested.


Walker Crips Group plc (Old Change House, 128 Queen Victoria Street, London EC4V 4BJ), registered in England, registered number 1432059, incorporates the following companies which are authorised and regulated by the Financial Conduct Authority: Walker Crips Investment Management Limited registered in England number 4774117 member of the London Stock Exchange, Walker Crips Wealth Management Limited registered in England number 3790291, Ebor Trustees Limited registered in England number 3514268, Barker Poland Asset Management LLP registered in England and Wales number OC341149.