TIDMALBA
RNS Number : 9057U
Alba Mineral Resources PLC
09 April 2021
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Alba Mineral Resources plc
("Alba" or the "Company")
Limerick Base Metals Project Update
Structural Review and Target Generation
Alba Mineral Resources plc (AIM: ALBA) is pleased to confirm the
completion of a structural review in respect of the Company's
Limerick Base Metals Project in Ireland. The review has identified
three main target zones for follow-up exploration activities,
including drilling.
Key points
- A structural review has been undertaken of Alba's Limerick
Base Metals Project (PL 3824) using Sentinel-2 satellite imagery,
Tellus aeromagnetic and EM data, Geological Survey of Ireland
("GSI") geological map data, DIAS gravity data and historic
exploration data provided by Alba.
- The review has identified three principal exploration target
areas within PL 3824, each exhibiting a number of the structural
and geological features found in Zinc-Lead deposits in the Irish
Zinc Ore Field.
- These results support Alba's decision to renew PL 3824 and to
recommence exploration activities at the Project.
George Frangeskides, Executive Chairman, commented :
"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 km or so from our licence area,
which included drill intercepts of 7 metres at 30% zinc-lead
combined, 5 metres at 14% zinc-lead combined and 3 metres at 10.8%
zinc-lead combined."
"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."
Background
Murphy Geological Services ("MGS") were commissioned by Alba to
undertake a structural study in respect of the Company's zinc-lead
exploration project, Limerick Base Metals, held under Prospecting
Licence ("PL") 3824, in Co. Limerick, Ireland. MGS's Principal
Geologist is Francis X. Murphy B.Sc., Ph.D. Dr. Murphy has
significant experience of working in the Limerick Basin and has
previously completed similar assignments for both Adventus Mining,
on its Rathkeale Project, and Group Eleven Resources, on its
Stonepark and Pallas Green West Projects, all within the Limerick
Basin.
Data was compiled from various sources including Tellus
aeromagnetic and EM data, DIAS gravity data and Sentinel-2
satellite imagery. Sentinel-2 is a new earth observation sensor
which was launched in June 2015 by the European Space Agency. It is
a significant improvement on Landsat-7 and ASTER data and allows
more detailed structural analysis. The Sentinel-2 imagery can be
interpreted at up to 1:10,000 without pixilation for detailed
analysis.
SRTM DEM data, downloaded from the US Geological Survey ("USGS")
Earth Explorer website, was also used to assist the structural
interpretation. A Sentinel-2 extract for the licence area was
draped onto the SRTM DEM data to help emphasize subtle topographic
features in the poorly exposed terrain of the Limerick Basin which
may represent the surface expression of major or second order
structures as well as domal features which are commonly related to
intrusive plugs or volcanic necks.
The main aims of the study were to process the Sentinel-2
satellite imagery and carry out a detailed structural analysis of
the Tellus data (generally at 1:20,000-1:30,000 scale) and
Sentinel-2 imagery (generally at 1:10,000-1:15:000 scale). A
structural synthesis was undertaken using the interpretation,
Geological Survey of Ireland ("GSI") geological map data, DIAS
gravity data and Alba's historic exploration data in order to
establish the structural framework and generate base metal
exploration targets within PL 3824.
Results of Structural Study
As a result of this detailed structural review, three principal
exploration target areas have been identified within PL 3824 (see
Figure 1 in the PDF version of this RNS). These targets have been
identified due to the prevalence of a number of criteria including
the presence of major extensional faults, prominent Tellus
aeromagnetic and EM lineaments, the proximity to mafic intrusions,
the presence of suitable stratigraphy and the presence of anomalous
Zinc (Zn) and/or Lead (Pb) values in soil samples.
Target 1
Target 1 is located in the hanging-wall of a WNW-ESE trending
major extensional fault identified from the Tellus aeromagnetic
data which is cross-cut by a NW-SE trending structure. Drill hole
TC-3824-002 was located on the intersection between these two
structures which probably accounts for the extensive cavities
encountered before the hole was abandoned at 84.5 m. TC-3824-003 is
located in the hanging-wall of the NW-SE trending structure. There
is potential for base metal mineralization within the fault wedge
bounded by the WNW-ESE and NW-SE trending faults due to the
migration of mineralizing fluids along the WNW-ESE trending
structure.
Target 2
Target 2 lies in the hanging-wall of another WNW-ESE trending
major extensional fault identified from the Tellus aeromagnetic
data in the centre of Alba's licence area. This structure undergoes
a NW-SE trending strike swing to the southeast. Two drill holes
(19-3824-02 and 19-3824-03) are located in the hanging-wall of the
NW-SE trending section of the fault. 19-3824-02 was drilled
approximately 75 m to the northeast of the fault surface trace
interpreted from the aeromagnetic data. The core log notes the
presence of a "debris flow" with a red haematitic matrix between
32.5-42 m (see Figure 2 in the PDF version of this RNS). It is
possible that this is a fault breccia rather than a debris
flow.
Drill hole 19-3824-03 is located 220 m to the north-east of the
WNW/NW trending fault. The base of the Waulsortian Limestone occurs
at a depth of 73.8 m within this drill hole. The core photographs
show a pink/pale red coloured zone above and below the 28.25 core
marker (see Figure 3 in the PDF version of this RNS). This may be
due to haematitic alteration but pink/pale red zones can be
associated with very fine-grained sphalerite mineralization in the
Irish Ore Field. Accordingly, Alba will be assaying this interval
for zinc mineralization.
A subcircular aeromagnetic high occurs on the east-central
boundary of the prospecting licence adjacent to the eastern part of
the target area and is considered to be related to a mafic
intrusion (see Figure 4 in the PDF version of this RNS). Another
less pronounced aeromagnetic high in the north-west of the licence
area may represent a more deeply buried intrusion (see Figure 4 in
the PDF version of this RNS). These could have acted as thermal
drivers for the migration of mineralizing fluids.
Target 3
Target 3 is located in the hanging-wall of the westward
continuation of the Coonagh Castle Fault in the southern part of PL
3824. The Coonagh Castle Fault generally has an ENE-WSW trend but
undergoes a 080deg trending inflection where it transects Alba's
licence area. The Coonagh Castle Fault is one of the main faults
that transects the Limerick Basin. It can be traced through the
Castlegarde mineralized zone at Pallas Green and further east and
north through the Lisheen and Galmoy deposits (see the regional
mines map at Figure 5 in the PDF version of this RNS).
Drill hole 19-3824-01 was drilled approximately 900 m to the
north of the Coonagh Castle Fault in an area shown to be underlain
by Waulsortian Limestone on the GSI map. There is potential for
Waulsortian Limestone to be preserved on the southern limb of the
fold. Waulsortian reef limestone is the host rock for zinc-lead
deposits in the Irish Orefield.
Follow-up Exploration
Arising out of this structural review and target generation
exercise, Alba intends to assay a selection of the historic drill
core for zinc mineralization.
In respect of Target 3, the prospectivity of this area depends
on the preservation of Waulsortian Limestone in the hanging-wall of
the Coonagh Castle Fault. Short exploratory drilling is being
considered to confirm the bedrock stratigraphy, followed by deeper
exploration drilling.
Alba's technical team will now further assimilate the results of
this structural review and move thereafter to the detailed planning
of a field programme encompassing the three exploration
targets.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
Competent Person Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Mark Austin. Mr Austin is a member
of SACNASP (Reg. No. 400235/06), Fellow of The Geological Society
and Fellow of the Geological Society of South Africa. He has a
B.Sc. Honours in Geology with 38 years' experience.
Mark Austin has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration targets, Exploration Results, Mineral
Resources and Ore Reserves', also known as the JORC Code. The JORC
code is a national reporting organisation that is aligned with
CRIRSCO. Mr Austin consents to the inclusion in the announcement of
the matters based on his information in the form and context in
which they appear.
Glossary
Aeromagnetic survey: relating to or denoting the measurement of
magnetic fields of different rock types using airborne
instruments.
Aeromagnetic lineaments: line features of the earth's crust,
expressed by linear landforms, geological linear forms, linear
anomalies of physical fields may follow each other, associated with
faults as indicated by the aeromagnetic survey.
ASTER: the Advanced Spaceborne Thermal Emission and Reflection
Radiometer obtains high-resolution (15 to 90 square meters per
pixel) images of the Earth in 14 different wavelengths of the
electromagnetic spectrum, ranging from visible to thermal infrared
light. Geologists use ASTER data to create detailed maps of land
surface and make geological interpretations from those studies.
Bedrock stratigraphy: the rock types underlying the surface.
Core log: core logging is the systematic recording and measuring
of geological information such as the lithology (rock types),
mineralogy, potential geological history, structure and alteration
zones as shown in the core from a diamond drill.
Cross-cut: cross-cutting relationships are one of the
fundamental ways of determining relative age relationships between
adjacent geological features.
Debris flow: debris flows are created by fast-moving landslides
that create a distinctive rock type such as breccia.
DIAS gravity: DIAS Geophysics has collected and continues to
manage terrestrial gravity data in Ireland.
Domal features: a dome is a feature in structural geology
consisting of symmetrical anticlines. Intact, domes are distinct,
rounded, spherical-to-ellipsoidal-shaped protrusions on the Earth's
surface. However, a transect parallel to Earth's surface of a dome
features concentric rings of strata.
EM or Electromagnetic: relating to the interrelation of electric
currents or fields and magnetic fields.
Extensional fault: an extensional fault is a fault caused by the
pulling apart of the Earth's crust.
Fault breccia: a type of rock formed by mechanical deformation
during crustal movements.
Fault surface trace: the intersection of a fault with the ground
surface; also, the line commonly plotted on geologic maps to
represent a fault.
Fault wedge: a zone of deformed sediment between faults.
Haematitic alteration: haematite is found as a primary iron
mineral and as an alteration product in igneous, metamorphic, and
sedimentary rocks.
Haematitic matrix: the matrix or groundmass of a rock is the
finer-grained mass of material in which larger grains, crystals or
clasts are embedded. A haematitic matrix is iron-rich.
Hanging-wall: the upper or overlying block of a fault plane is
called the hanging wall.
Intrusive plugs or volcanic necks: the rocks left from the
intrusion of a volcanic event.
Intrusives: an igneous rock which has been emplaced into older
rocks within the Earth's crust. Examples are dykes and sills.
Landsat-7: Landsat satellites have the optimal ground resolution
and spectral bands to efficiently track land use and to document
land change due to natural and human-caused changes. Landsat 7's
primary goal is to refresh the global archive of satellite photos,
providing up-to-date and cloud-free images.
Lineaments: line features of the earth's crust, expressed by
linear landforms, and geological features such as faults and
intrusions.
Mafic intrusions: thick packages of layered basaltic rock that
has crystallized in large magma chambers deep in the earth's
crust.
Sphalerite: a mineral composed essentially of zinc sulfide which
is the most important ore of zinc.
SRTM DEM: Shuttle Radar Topography Mission is an international
research effort that obtained digital elevation models on a
near-global scale from 56degS to 60degN, to generate the most
complete high-resolution digital topographic database of the
Earth.
Stratigraphy: a succession of geological units.
Thermal drivers: a heat catalyst for the migration of
mineralizing fluids.
Waulsortian Limestone: Waulsortian limestone is extensively
developed in Ireland, and it represents a phase of carbonate lime
mud build-up containing a shelly marine fossil fauna. It is a
geological unit that is particularly associated with lead and zinc
mineralisation in Ireland.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
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Clogau (gold) Wales 90%
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Gwynfynydd (gold) Wales 100%
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Inglefield (copper, cobalt,
gold) Greenland 100%
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Limerick (zinc-lead) Ireland 100%
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Melville Bay (iron ore) Greenland 51%
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TBS (ilmenite) Greenland 100%
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Oil & Gas Investments
Brockham (oil) England 5%
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Horse Hill (oil) England 11.765%
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