LONDON (ShareCast) - (Sharecast News) - Diversified mineral exploration and development company Alba Mineral Resources reported results from the recent reconnaissance sampling programme completed at its 100%-owned Inglefield Land polymetallic project in north-west Greenland on Wednesday.
The AIM-traded firm said the identified mineralisation confirmed copper-gold potential, with an assemblage akin to porphyry copper/iron oxide-copper-gold style deposits.

It said the new results complemented the results obtained by the previous operator, with both sets of assay data showing "extensive" mineralisation potential over "significant" strike lengths.

Polymetallic gold-copper-silver mineralisation was identified at the Kap Agassiz/Bear Island target, with channel sample gold grades up to 0.65 g/t, rock sample copper grades up to 1.65%, and rock sample silver grades up to 18.6 g/t.

Soil sample polymetallic gold-copper-silver-molybdenum mineralisation was also identified at the Four-Finger target, with gold grades up to 0.36 g/t, copper grades up to 0.18%, silver grades up to 13.35 g/t, and molybdenum grades up to 0.11%.

"The indications from these assay results is that large-scale mineralising systems exist in Alba's licence areas and that this could indicate the presence of porphyry copper and/or IOCG systems," said Alba's executive chairman George Frangeskides.

"These deposits are typically polymetallic and very large in scale.

"Given the potential significance of such a discovery, this is something we intend to focus our future work on at our Inglefield Land Project, both in terms of the further geological and geophysical analysis to be undertaken over the winter as well as the follow-up field exploration planned for 2019."

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