RNS7 Jun 2021 08:43
Thule Black Sands Update Declaration of Exploration Target Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that, following a detailed independent assessment of the Thule Black Sands Ilmenite Project in northern Greenland, the Company has declared a significant Exploration Target for the Project. Key Points -- As independent Exploration Target has been declared for TBS of 70-300Mt at a grade of 35-50% THM with an in situ ilmenite grade of 6-11% -- This would represent, at the lower end of the range, an almost three times increase in the current figures for contained ilmenite George Frangeskides, Alba's Executive Chairman, commented: "We commissioned this independent assessment of the potential quantity and grade of the ilmenite at Thule Black Sands to provide support for the significant tonnage potential at the Project. Having now declared an initial Exploration Target ranging from between 3 to 33 million tonnes of contained ilmenite, this gives us a great deal of optimism as we move forward to a drilling programme at TBS." "If the next round of drilling is able to prove up just the lower end of this range, even that would represent an almost three times increase on our current figures
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