Alba Mineral Resources plc announced it had identified a “significant” exploration target at its ilmenite project at Thule Black Sands (TBS), northern Greenland.
The target is of 70-300 million tonnes (Mt) at a grade of 35-50% total heavy materials (THM), a range of ilmenite grade (as a percentage of THM) of 12-22%, and a range of in-situ ilmenite grade of 6-11%.
Alba said that this would represent, at the lower end of the range, nearly a three-fold increase in the current figures for contained ilmenite.
Any proven subsequent drilling would see the current contained ilmenite of 1.7Mt, as per the existing maiden mineral resource estimate, increase to 4.7Mt in total.
The junior miner expects to test the target soon with a drilling programme.
TARGET RANGE
The figures come from an independent assessment by Dr John Arthur (CGeol FGS) of the potential quantity and grade of the ilmenite at TBS to support the significant tonnage potential at the project.
Alba said that the potential quantity and grade of exploration target was conceptual in nature with insufficient exploration to estimate a mineral resource.
The company added that it was uncertain if further exploration would result in the estimation of a mineral resource.
The minimum exploration target of 70Mt of material would, if verified, equate to a further 3Mt of contained ilmenite.
The maximum exploration target of 300Mt of material would, if verified, equate to a further 33Mt of contained ilmenite.
| Minimum tonnage (t) | 70,000,000 | (tonnes) |
| min contained THM (t) | 25,000,000 | (tonnes * %THM) |
| min Ilm grade (%) | 12 | (% of THM) |
| min Ilm tonnage (t) | 3,000,000 | (t THM * % Ilmenite in THM) |
| min Ilm in-situ grade (%) | 6 | (t Ilm / total tonnage) |
| Maximum tonnage (t) | 300,000,000 | (tonnes) |
| max contained THM (t) | 150,000,000 | (tonnes * %THM) |
| max Ilm grade (%) | 22 | (% of THM) |
| max Ilm tonnage (t) | 33,000,000 | (t THM * % Ilmenite in THM) |
| max Ilm in-situ grade (%) | 11 | (t Ilm / total tonnage) |
Executive chairman George Frangeskides said that the initial exploration target range of three to 33Mt of contained ilmenite gave the company great deal of optimism ahead of a drilling programme at TBS.