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Alba Mineral Resources (LSE:ALBA) rose, gaining 25 percent Late on Friday Trading with rumours its is ready to resume operations at its 100% owned Limerick Carbonate-hosted Zinc Project.

It is also noted that recent press Reports that Ireland may have up to $10billion of hidden gold deposits and this attracted punters to Conroy Gold and Natural Resources, Alba Mineral Resources.
Broker Charles Stanley Securities has a target price of 6p for  (ALBA ), and 8p for ( CGNR ).

alltheaimmarketnews's insight:

                                       Alba Mineral Resources (LSE:ALBA) rose, gaining 25 percent Late on Friday Trading with rumours its is ready to resume operations at its 100% owned Limerick Carbonate-hosted Zinc Project. 

It is also noted that recent press Reports that Ireland may have up to $10billion of hidden gold deposits and this attracted punters to Conroy Gold and Natural Resources, Alba Mineral Resources.
Broker Charles Stanley Securities has a target price of 6p for  (ALBA ), and 8p for ( CGNR ).

thehub's insight:

Alba Mineral Resources (LSE:ALBA) rose, gaining 25 percent Late on Friday Trading with rumours its is ready to resume operations at its 100% owned Limerick Carbonate-hosted Zinc Project.

 

It is also understood the Company was notified that the Mining Authorities in Mauritania had renewed its licence for its 50% interest in a private mineral exploration company, Mauritania Ventures Limited who currently hold one uranium exploration licence, totaling 1,500 km2, in northern Mauritania. This licence was acquired to target three types of uranium mineralization, i.e., unconformity-hosted, granite-hosted and calcrete/silicrete-hosted.

With this in mind ALBA can expect to move things forward at a fast pace with a believed a £1,000,000 war chest for exploration with only 215m shares in issue and a tiny 0.8m market cap they are well funded and look a well managed minnow worth keeping on the radar led by Mr.Mike Nott who is currently CEO of Magyar Mining Plc, a director of AIM-listed Red Rock Resource PLC, and previous positions have included periods with ARC Southern Ltd, Hills Aggregates Ltd, as Director and General Manager, and Roan Consolidated Mines Ltd, as Exploration and Senior Mining Geologist.

It is also noted that recent press Reports that Ireland may have up to $10billion of hidden gold deposits and this attracted punters to Conroy Gold and Natural Resources, Alba Mineral Resources.
Broker Charles Stanley Securities has a target price of 6p for  (ALBA ), and 8p for ( CGNR ).

Alba Mineral Resources, Alba is a holding company that focuses on uranium, gold, nickel and base metals.
Alba holds interests in Mauritania (uranium) and Ireland (base-metals). 

Alba continues to review and discuss other opportunities for development of the Company 
including structured JV’s and exploration projects in other countries that have been brought 
to us through contacts and other possible reverse opportunities that may have value 
enhancing potential.

Limerick Carbonate-hosted Zinc Project

Alba owns one exploration licences (PL3824; 17.11 km2) within the highly prospctive Limerick Basin (aka Pallas Syncline). The licence were issued on 27 May 2004. Originally the licence was explored by Alba Mineral Resources as a conceptional carbonate-hosted gold play. However, promising exploration (including geochemical sampling, geophysics and mapping) in the area resulted in the company reclassifying the licences as prospective for base metal mineralization. The proximity to recent exploration successes by other exploration companies at similar stratigraphic levels only 7 km from the Alba licences is positive. Other features which encourage the company are:

Anomalous zinc values from mineralized carbonate lithologies
Suitable rocks providing a potential reservoir for zinc mineralizing fluids
Evidence for hydrothermal fluids (silicification, dolomitization and pyritization) indicating enhanced permeability of potential host-rocks and a potential mineralizing system
Elevated concentrations of zinc-associated elements such as cadmium, antimony, arsenic, silver and mercury
AMR has proposed the following exploration programme:

Assemble a spatial electronic relational database of relevant historical exploration data
AMR will conduct highly focused detailed infill sampling
Drill-target areas will be identified from prospectivity maps
Limerick geology
Map illustrating the location of base metal licences held by Alba Mineral Resources in the Limerick Basin. The former Gortdrum Mine (Cu-Ag-Hg) is present as are a number of subeconomic base metal deposits, i.e., Courtbrown (Zn-Pb) and Aherlow (Cu-Ag), and recent exploration success by Minco-Xstrata and Connemara Mining-Teck Cominco (yellow star).

Limerick Carbonate-hosted Zinc Project

Alba owns one exploration licences (PL3824; 17.11 km2) within the highly prospctive Limerick Basin (aka Pallas Syncline).  The licence were issued on 27 May 2004. Originally the licence was explored by Alba Mineral Resources as a conceptional carbonate-hosted gold play. However, promising exploration (including geochemical sampling, geophysics and mapping) in the area resulted in the company reclassifying the licences as prospective for base metal mineralization. The proximity to recent exploration successes by other exploration companies at similar stratigraphic levels only 7 km from the Alba licences is positive. Other features which encourage the company are:

Anomalous zinc values from mineralized carbonate lithologiesSuitable rocks providing a potential reservoir for zinc mineralizing fluidsEvidence for hydrothermal fluids (silicification, dolomitization and pyritization) indicating enhanced permeability of potential host-rocks and a potential mineralizing systemElevated concentrations of zinc-associated elements such as cadmium, antimony, arsenic, silver and mercury

AMR has proposed the following exploration programme:

Assemble a spatial electronic relational database of relevant historical exploration dataAMR will conduct highly focused detailed infill samplingDrill-target areas will be identified from prospectivity mapsMap illustrating the location of base metal licences held by Alba Mineral Resources in the Limerick Basin. The former Gortdrum Mine (Cu-Ag-Hg) is present as are a number of subeconomic base metal deposits, i.e., Courtbrown (Zn-Pb) and Aherlow (Cu-Ag), and recent exploration success by Minco-Xstrata and Connemara Mining-Teck Cominco (yellow star)

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Alba Mineral Resources ,Reports that Ireland may have up to $10billion of hidden gold deposits attracted puntersToday

 Alba Mineral Resources ,Reports that Ireland may have up to $10billion of hidden gold deposits attracted puntersToday

alltheaimmarketnews's insight:

                                       Alba Mineral Resources ,Reports that Ireland may have up to $10billion of hidden gold deposits attracted puntersToday

Alba Mineral Resources ,Reports that Ireland may have up to $10billion of hidden gold deposits attracted punters

http://www.dailymail.co.uk/money/markets/article-2534882/MARKET-REPORT-Bid-buzz-sends-Hays-high.html

thehub's insight:

Michael Nott 5,000,000 5,000,000 4.6%
Regency Mines 4,000,000 17,934,047 16.3%
EP&F Capital plc 4,000,000 4,000,000 3.6%
Starvest plc 2,000,000 13,875,000 12.6%
Aurum Services 1,450,316 1,450,316 1.3%
Sandy Archibald 500,000 4,000,000 3.6%
Kerr Anderson 200,000 3,570,000 3.2%
Vaughan Williams 100,000 3,470,000 3.2%

3) Starvest PLC are a major shareholder in Regency Mines.

4) Directors of Alba Minerals are also directors of Red Rock Resources. Regency Mines have a substantial stake in Red Rock Resources. Michael Nott is a directors of both Alba and Red Rock. Nigel Duxbury is a director of Alba and EP&F Capital. Sandy Archibald is a director of Alba and Arum Services.

5) Regency Mines recently announced, 10th. September 2009, £3m of funding through a SEDA.

Alba Mineral Resources have a 50% stake in a company called Mauritania Venture Ltd. The remaining 50% is own by Fosse Investments Ltd.

It’s the prospects in Mauritania that are of particular interest. The below link highlights the areas in question.

http://www.albamineralresources.com/text/projects/mauritania.html
Alba are working in two distinct areas in the country, north and south-west. The tenements in the north are very close to where Forte Energy are currently establishing uranium resources. Alba have uranium exploration licenses for the blocks in the north of the country in the Bir En Nar region. Forte Energy should be announcing before the end of this year their results from the same area which should trigger a JV with Areva the big French nuclear company. They have also discovered copper, gold and chrome in this region (see 28th. Feb announcement below).

In the south west of the country Alba are currently applying for five IOCG style mineralization permits. In this area Alba will be looking for copper, gold and rare earth metals. Already working in the south west are Shield Mining and Aura Energy (both ASX listed).

Why are Alba’s tenements in Mauritania interesting? The attached map shows where Alba’s licenses are in Mauritania (under the name of Mauritania Ventures Ltd. of which Alba Minerals own 50%). 

http://dl.getdropbox.com/u/1713179/SITUATION-G2.jpg
Transportation links to the north of the country are poor at present, see attached map below. The Forte Energy JV with Areva, however, will result in the area being developed and new transport links being built. This should result in the Alba licenses in the north becoming far more economic to develop and therefore valuable.

http://dl.getdropbox.com/u/1713179/Ifrastructure_Map.pdf
The attached announcement from 7th. July 2008 confirms the existence of uranium. A more detailed report would be required to confirm the quantity and quality of the resource.

http://www.albamineralresources.com/text/news/releases/Alba%20RNS%20-%20MVL%20licences%20and%20field%20work%20update_July08.pdf
The tenements in the south west of the country are particularly interesting. The attached survey maps show the existence of copper, gold and rare earth metals in or near the licenses Alba Minerals are currently applying for. 

http://dl.getdropbox.com/u/1713179/Landsat_Aster.jpg
http://dl.getdropbox.com/u/1713179/Geological_Map.gif
http://dl.getdropbox.com/u/1713179/Major_Mineral_Deposits.pdf
http://dl.getdropbox.com/u/1713179/Topographical_Mineral_Map.jpg
As far as I’m aware no detailed exploration work has been carried out in the south west by Alba to date. They have done some initial exploratory work and made a preliminary announcement on 28th. February 2008.

http://www.albamineralresources.com/text/news/releases/Alba%20RNS%20-%20Mauritania%20Fieldwork%20_28%20Feb%202008_.pdf
Why is this an interesting play? Firstly, it is very high risk. They only have 4 months of money left so either dilution is on the way, a take over or they will fold. They have not done, as far as I am aware, any detailed exploration work. I strongly suspect they are some years away from a bankable feasibility study on any of their licenses. So keep all of that in mind when drawing your conclusions.

I think it is very significant that both Regency Mines and Starvest put more money into Alba recently and that the directors accepted shares in lieu of monies outstanding. You do not invest more money in a company and you don’t take shares in lieu of payment if you don’t think the company is on to something. I think the Forte Energy and Areva JV in the north will open up that region. The south-west is accessible and has good transport links. Alba merely need to raise funds to progress their work in both of their areas.

I think this is a very good long term investment at the current share price. You will be getting in at the basement level. If you are patient and prepared to wait this has a potentially very significant upside. 

Best entry point? When Alba announce funding, which, in my opinion, will happen within the next 4 – 8 weeks. I expect the share price to slowly move north in the meantime.

This is very high risk. 


____________________________________________________
A few more titbits :
 A mineral exploration company whose principle project is the Arthrath Nickel-Copper Project in Scotland which has been drill tested in the past by others and is thought to have significant potential. Encouraging results from a 173 metre deep diamond drill hole in its Limerick licence in Ireland, has led the board to seek a joint venture partner for this licence. Essentially this looks as though it might form a useful quoted shell company which Regency might spin some interests off into sometime in the future.
 Teck will spend $400,000 on exploration over a four year period to earn its stake in the assets.

Shares in micro-cap explorer Alba Mineral Resources (LON:ALBA) shot up over 20 per cent today after it sealed an exploration joint venture with Canadian mining firm Teck Resources (TSE:TCK).
Through the deal Teck has an option to acquire a 75 per cent stake in Alba’s zinc and lead exploration assets in the Limerick basin, in county Limerick, Ireland.
Teck will spend $400,000 on exploration over a four year period to earn its stake in the assets.
Initial exploration work will begin next year with ground geophysics and soil geochemistry programmes. Alba said that a diamond drilling may also be possible next year.
On AIM this morning Alba shares gained 0.115p, about 20 per cent, to trade at 0.69p a share. At the current market price the company is worth £600,000.
Ireland hosts Europe’s largest zinc mine, the Tara mine which is operated by Swedish firm Boliden. Approximately 2.6 million tonnes of zinc and lead concentrate is produced at the Tara mine each year. The mine is located near Navan, county Meath.
There is notable interest in zinc projects in Limerick at the moment and Teck is already developing the nearby Stonepark project alongside Connemara Mining (LON:CON).
Additionally Xstrata is also developing a mine in Limerick. Earlier this year the FTSE100 constituent bought out its AIM-listed joint venture partner Minco (LON:MIO) to take full control of the Pallas Green project.
The deal in July saw Minco sell its 23.6 per cent stake in the project for US$19.4 million.


   All considered ,our links with RGM / RRR , are due to go solar powered .
     gla concerned

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