Aim-listed Alba Mineral Resources has confirmed that the exploration licence for the company's Limerick base metals project, in Ireland, has been renewed until May 26, 2022.
Alba is in the process of determining the next phase of exploration activities at the project, which may include the drilling of key zinc targets.
"We are delighted to be able to confirm the renewal of the exploration licence for our Limerick base metals project. Our project is situated in the Irish Zinc Ore Field, the location of a number of high-grade zinc/lead deposits.
"The region has been the site of renewed drilling activity in recent years, and we look forward to renewing our exploration for high-grade zinc on our licence area in the coming months," comments executive chairperson George Frangeskides.
Further, Alba says it has also noted the decision by the government of Greenland to reduce the expenditure obligations for this year for all mineral exploration licences to zero.
The government of Greenland has decided to roll over to 2021 the initiatives which were first applied in 2020 in response to the Covid-19 pandemic, so that for all mineral exploration licences in Greenland, the exploration expenditure obligations for this year will be reduced to zero and the existing licence period will be extended by one year.
Alba owns ilmenite, graphite and iron-ore assets in Greenland.
"The government's decision to renew for a further year the measures it first introduced in 2020 to assist licensees facing the challenges of the Covid-19 pandemic are of course very welcome.
"That being said, these initiatives do not lessen our determination to progress our high-grade projects in Greenland, once the pandemic restrictions in Greenland ease sufficiently to allow us to do so,” says Frangeskides.