Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining
5 November 2025
Alba Mineral Resources Plc
("Alba" or the "Company")
Maiden Drilling Programme Commences at Finnsbo
Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is pleased to announce that drilling has commenced at Finnsbo, the high-grade gold and rare earths prospect which Alba is earning into in southern Sweden ("Finnsbo" or the "Project").
Highlights
· Drilling has commenced at Finnsbo, seeking continuity of high-grade gold, copper and rare earth mineralisation.
· Previous geochemical sampling at Finnsbo returned assay results of:
o up to 3.5% Total Rare Earth Oxides (TREO) (with overall grades ranging from 0.5% to 3.5% TREO), with 37-38% of the TREO comprising high-value NdPrDy (neodymium-praseodymium-dysprosium) oxides; and
o up to 27g/t gold (with overall grades ranging from 7 to 27g/t) and 2.9% copper (with overall grades ranging from 0.9% to 2.9%).
Details
Alba has commenced drilling at the Finnsbo Project in southern Sweden (Figures 1 and 2). This maiden drilling campaign is expected to comprise three drill holes for around 300 metres in total (Figure 3). The programme is expected to last about two weeks.
Previous geochemical sampling at Finnsbo returned assay results at the "POP 2" location of up to 3.5% Total Rare Earth Oxides (TREO) (with overall grades ranging from 0.5% to 3.5% TREO), with 37-38% of the TREO in each case being made up of high-value NdPrDy (neodymium-praseodymium-dysprosium) oxides, as well as gold and copper grades of up to 27g/t (with overall grades ranging from 7 to 27g/t) and 2.9% (with overall grades ranging from 0.9% to 2.9%) respectively.
Samples taken by Alba from the same location were found to contain visible gold and returned assay results including grades of 9.72 grams per tonne (g/t) gold and 2.36% TREO.
Subsequent to this sampling, Alba commissioned a specialist geophysics contractor to carry out a ground-based geophysical survey at Finnsbo. The results of the survey strengthened the indications that the more unique "POP 2" style of high-grade gold, copper and rare earth element ("REE") mineralisation is of magmatic origin and related to the intrusive tonalite. This confirmed the Company's thinking that the next stage of field work should focus on core drilling the contact zone starting at the POP 2 location and stepping out towards the southeast, seeking continuity of high-grade gold, copper and rare earth mineralisation. This is the objective of the present drilling campaign.
|
|
|
Figures 1 and 2: Drill rig in background; geologists examining the drill core.
Figure 3: Shows indicative position of three short drill holes (red lines) for 80-100m each, intended to locate high-grade mineralisation at shallow depth and check vertical continuity. Inset map shows location of Finnsbo in southern Sweden.
Alba has the right to earn into the Finnsbo Project in stages, as per the Company's announcement of 6 November 2024, with the first stage comprising the right to spend £100k on qualifying expenditure over an initial 12-month period in order to earn a 25% interest in the Project, with the further right thereafter to earn or acquire in further stages up to a 100% interest in the Project.
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, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes 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 finance, execute and implement future plans and programmes, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
**ENDS**
Engage with Alba by asking questions, watching video summaries and reading what other shareholders have to say. Navigate to our interactive Investor Hub here:
https://albamineralresources.com/link/P4xZlP
For further information, please visit the Alba Mineral Resources plc investor website (www.albamineralresources.com) and sign up to receive news and engage with the Alba management team. Subscribe to our news alert service (https://alba-l.investorhub.com/auth/signup) and visit @AlbaMinerals on X (formerly Twitter).
| Alba Mineral Resources plc George Frangeskides, Executive Chairman |
+44 20 3950 0725
|
| SPARK Advisory Partners Limited (Nomad) Andrew Emmott |
+44 20 3368 3555
|
| CMC Markets plc (Broker) Thomas Smith / Douglas Crippen |
+44 20 3003 8632
|
| Alba's Projects & Investments
|
||
| Projects Operated by Alba |
Location |
Ownership |
| Clogau (gold) |
Wales |
100% |
| Dolgellau Gold Exploration (gold) |
Wales |
100% |
| Gwynfynydd (gold) |
Wales |
100% |
| Investments Held by Alba |
Location |
Ownership |
| GreenRoc Strategic Materials Plc (graphite - anode) |
Greenland |
25.78% |
| Elemental Rare Metals Limited (Motzfeldt Critical Metals Project) |
Greenland |
25.5% |
| Horse Hill (oil) |
England |
11.765% |
| Earn-in Projects |
Location |
Earn-in Rights |
| Finnsbo (rare earths, copper, gold) |
Sweden |
Up to 100% |