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Site visit by Albion (ASX:ALB) at Lennard Shelf uncovers visible Zinc-Lead mineralisation

Summary

  • Albion Resources has successfully conducted a reconnaissance visit to its fully owned Lennard Shelf Zinc-Lead Project.
  • ALB’s Board has conducted successful meetings with the Gooniyandi Aboriginal Corporation (GAC) regarding various aspects of exploration and community support.
  • ALB has received DMIR’s drilling approval and is continuing discussions on a heritage agreement with the GAC.

High-grade base metals explorer Albion Resources Limited (ASX:ALB) owns a slew of exciting projects with substantial prospects for making new discoveries in the established high-grade Lennard Shelf district.

The Company has plans to commence exploration work across the landholding and has proposed systematic exploration, including IP and drilling for testing targets in the current year.

DID YOU READ: How does Albion Resources’ (ASX:ALB) Pillara East Project stack up for the future? 

Reconnaissance visit indicates visible zn-pb mineralisation

ALB has successfully conducted a reconnaissance visit to its fully owned Lennard Shelf Zinc-Lead Project located in the world-class Mississippi Valley-type Zinc-Lead province in southern Kimberley, WA.

As part of the successful site visit, the technical team of ALB surveyed the primary targets and achieved numerous outcomes. These include the following:

Source: ALB Announcement 18/06/2021

The site visit spanned the granted tenure, including field review of known gossans, a productive collar search for historical drilling, and confirmation of land and drill access. The ALB team also held discussions with the Gooniyandi Aboriginal Corporation (GAC), which represents the traditional owners and custodians of the prospective lands.

EXECUTIVE TEAM UPDATE: Meet the leadership team at the helm of Albion Resources (ASX:ALB)

The discussions involved heritage needs, geology and the exploration process, project access and heritage surveys, community programs, and other support.

New gossanous horizon delineated at Prices Hill (Source: ALB Announcement 18/06/2021)

Exploration potential at Lennard Shelf

Since the late 1980s, the regional exploration in the Lennard Shelf Province has been majorly unnoticed despite being a host to substantial historic mines, Pillara and the Cadjebut Trend.

ALB’s Lennard Shelf Project includes four sub-projects, which stretch over an area of around 393 km2. The work undertaken by the Company to date has helped in delineating major ENE trending structures that are inferred to be the control of the zn-pb mineralisation.

Past explorers have not adequately tested the zinc and lead mineralisation confirmed at Devious, Extreme, and Chance. A new gossanous horizon has been identified at Prices Hill with more than 500m of exposed mineralisation.

DETAILS ON IPOAlbion Resources (ASX:ALB) all set to list on ASX amid escalating zinc prices

Source: ALB Announcement 18/06/2021

With several prospects that warrant drill testing, ALB’s Lennard Shelf Project indicates a significant opportunity for the Company. These prospects are backed by historical drill intercepts and highly anomalous geochemical samples.

Presently, the Company has secured DMIR’s drilling approval. Meanwhile, the Company is also progressing negotiations on a heritage agreement with the GAC. Besides this, an anthropological survey is also being scheduled, which is fundamental for ALB’s maiden drilling Program.

DID YOU READ: Albion Draws Investors’ Attention as Zinc Prices Rebound off Multi-Year Lows

Albion Resources’ stock traded at AU$0.200, up by 11.111% at 11:28 AM AEST.

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