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Alba Mineral Resources wants to extend licence for Limerick metals project

The company sees potential in a number of exploration targets identified in a recent review of data from the project.

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It would give the group two further years in Limerick

Alba Mineral Resources Plc (LON:ALBA) told investors that it wants to extend its licence for the Limerick base metal project in the Republic of Ireland.

The company, which holds 100% of the project via Aurum Mineral Resources, said that a review of the exploration results has identified up to five drill targets for a future work programme planned for the summer.

A licence renewal would give the company another two years, until May 2020, and it would require at least one or more of the target to be drilled - with at least €50,000 due to be spent on the project.

READ: Alba Minerals raises £800,000 

Before drilling can take place the company will need to complete an environmental screening report fir the Exploration and Mining Division of Ireland.

“Given the strategic location of the ground and the fact that we are able to test some of these targets relatively inexpensively, we have decided to seek a renewal of our licence,” said George Frangeskides, Alba executive chairman.

"The Irish mining sector has witnessed something of a resurgence in recent months, with increased activity within the established Irish Zinc District, in which Alba's Limerick Project is located.

He added: “The Irish Ore Field has been a major source of zinc production since the 1960s and is currently home to some of Europe's largest zinc projects including the Navan (Tara) zinc-lead mine (Boliden), the Pallas Green deposit (Glencore) and the past producing Lisheen mine (Vedanta) and Galmoy mine (Lundin Mining).”

Quick facts: Alba Mineral Resources PLC

Price: 0.06 GBX

AIM:ALBA
Market: AIM
Market Cap: £2.28 m
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