RE: Bargain26 Jan 2021 06:43
Reminder
Alba's mineral exploration portfolio is comprised of gold, graphite, ilmenite and base metal projects which range from early stage through to more advanced, previously drilled or previously mined projects.
In addition, Alba has onshore oil & gas investments in the highly prospective Weald Basin in southern England.
Significant progress has been made in recent years towards our ultimate goal of achieving commercial production at one or more of our sites:
At Clogau, our regional exploration resulted in the discovery of 10 new gold anomalies across the Dolgellau Gold Belt. We also successfully drilled the Llechfraith mine area, which confirmed that the known gold-bearing geological setting at Llechfraith continues for some 25 metres below the deepest historic workings.
At Thule Black Sands, we have declared a maiden JORC Mineral Resource of 19 million tonnes at an in-situ ilmenite grade of 8.9%, translating to 1.7 million tonnes of contained ilmenite. This would be enough ore to sustain a 12-year mine life at a mining rate of 1.5 million tonnes per annum.
At Amitsoq, our latest phase of metallurgical testwork has confirmed that concentrate produced from Amitsoq graphite contains a significant proportion (36%) of larger-size, higher-value flake. This should assist greatly in the development of a positive economic model for the project.
At Horse Hill, a new well, HH-2z, was drilled in 2019, and we also saw continuous test production at the original HH-1 well surpass 78,000 barrels by year end. And the Horse Hill Oil Field has now entered into commercial production with regulatory consents in place for 25 years of production.
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