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Alba Mineral Resources adds to exploration acreage in Greenland

Previous exploration identified potential for copper-zinc volcanogenic massive sulphide (VMS) deposits

Greenland
Inglefield Land potentially contains a number of valuable metals

Alba Mineral Resources plc (LON:ALBA) has snapped up a licence in north-west Greenland close to its existing Inglefield Land blocks.

The additional ground was previously under licence to NunaMinerals, which held some of the potentially most prospective areas in Greenland according to Alba.

Last year, though, Greenland made much of the former Nuna exploration ground available in a formal application process.

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George Frangeskides, Alba's executive chairman, said: “Once further ground became available (at Inglefield Land) late last year, we identified the major areas of interest and submitted our application."

Previous exploration has already confirmed potential for copper-zinc volcanogenic massive sulphide (VMS) deposits, while extensive surface sampling reported anomalous copper (up to 1.39%), gold (up to 1.7g/t), cobalt (up to 0.16%), vanadium and nickel. 

"One of the drivers for us to look at the potential within Inglefield Land is that we already have a strong base in north-west Greenland with our Thule Black Sands project," added Frangeskides.

"As we will be working extensively up at Thule this coming field season, we will be able to utilise the same team and logistics to undertake a first field exploration campaign at Inglefield Land, which is approximately 100km to the north of the town (and exploration base) of Qaanaaq, Thule Black Sands being approximately 80km to the south. 

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"In the coming months, investors can expect to see significant news flow at Alba, not only across our suite of high-quality mining assets in Greenland and the UK, but also of course in relation to our substantial interests in the Horse Hill and Brockham oil projects.” 

Quick facts: Alba Mineral Resources PLC

Price: 0.055 GBX

AIM:ALBA
Market: AIM
Market Cap: £2.09 m
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