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Alba Mineral Resources upbeat on Limerick project structural review
9th Apr 2021 09:20
(Sharecast News) - Alba Mineral Resources announced the completion of a structural review on its Limerick Base Metals Project in Ireland on Friday, which identified three main target zones for follow-up exploration activities, including drilling.
The AIM-traded firm said the structural review used Sentinel-2 satellite imagery, Tellus aeromagnetic and electromagnetic data, Geological Survey of Ireland (GSI) geological map data, DIAS gravity data and historic exploration data provided by Alba.
It said the review identified three principal exploration target areas within the licence, each exhibiting a number of the structural and geological features found in zinc-lead deposits in the Irish Zinc Ore Field.
The results supported Alba's decision to renew the licence, PL 3824, and to restart exploration activities at the project, the board said.
"The Limerick Basin has been the site of notable exploration successes of late, such as the drilling last December of the Carricklittle Project, some 10 kilometres or so from our licence area, which included drill intercepts of seven metres at 30% zinc-lead combined, five metres at 14% zinc-lead combined and three metres at 10.8% zinc-lead combined," said executive chairman George Frangeskides.
"The detailed structural review we have now completed of our Limerick Base Metals Project area, pulling together all the latest geophysical and satellite data, has enabled the identification of three principal target areas within our licence.
"These three targets exhibit characteristics which are favourable for zinc-lead mineralization and provide renewed focus and impetus to our exploration activities in Ireland."
At 0944 BST, shares in Alba Mineral Resources were down 7.06% at 0.32p.
The AIM-traded firm said the structural review used Sentinel-2 satellite imagery, Tellus aeromagnetic and electromagnetic data, Geological Survey of Ireland (GSI) geological map data, DIAS gravity data and historic exploration data provided by Alba.
It said the review identified three principal exploration target areas within the licence, each exhibiting a number of the structural and geological features found in zinc-lead deposits in the Irish Zinc Ore Field.
The results supported Alba's decision to renew the licence, PL 3824, and to restart exploration activities at the project, the board said.
"The Limerick Basin has been the site of notable exploration successes of late, such as the drilling last December of the Carricklittle Project, some 10 kilometres or so from our licence area, which included drill intercepts of seven metres at 30% zinc-lead combined, five metres at 14% zinc-lead combined and three metres at 10.8% zinc-lead combined," said executive chairman George Frangeskides.
"The detailed structural review we have now completed of our Limerick Base Metals Project area, pulling together all the latest geophysical and satellite data, has enabled the identification of three principal target areas within our licence.
"These three targets exhibit characteristics which are favourable for zinc-lead mineralization and provide renewed focus and impetus to our exploration activities in Ireland."
At 0944 BST, shares in Alba Mineral Resources were down 7.06% at 0.32p.