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Alba acquires Yellow Circle Property - historic vanadium & uranium producer in Utah/Colorado Uravan Mineral Belt

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Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah, all of which were significant producers of vanadium and uranium during the last century.

Additional Information:

Company: Alba Minerals
Website: http://www.albamineralsltd.com
Stock Symbol: TSXV:AA
Date Published: May 9, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for InvestmentPitch Media

Alba Minerals has entered into an agreement with Journey Exploration Inc., a private arms' length company, to acquire all of the issued and outstanding share capital of Journey.

Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah, all of which were significant producers of vanadium and uranium during the last century.

The properties are in and adjacent to the Uravan Mineral Belt in which extensive prospecting, exploration, drilling and ore production has occurred for vanadium, uranium and radium since 1881.

The Yellow Circle Property, comprised of 96 mineral claims in San Juan County, Utah, covers
2045 acres and is located approximately 15 miles southeast of Moab, Utah.

The claims cover an area of previous mining where vanadium and uranium ores were produced from the Yellow Circle Group of Mines.

The property is easily accessible from Moab by a 2-lane sealed highway and the area itself is readily accessible by roads, tracks and drill trails established by previous miners and explorers of the Yellow Circle Group of Mines.

Many of the underground workings remain accessible as witnessed by the photographs taken during a site visit to the property in April 2019.

Three grab samples collected from accessible underground workings on April 1, 2019 yielded the results shown in this table.

Mineralization within the claims area has been known since 1917, and high-grade vanadium/uranium ore has been mined intermittently over several decades.

The total production is unknown, however in 1943, mines within the claims area were credited with 1,624 tons of ore averaging 1.65% vanadium.

Beginning in 1949, records of the U. S. Department of Energy indicate that the Yellow Circle area produced about 63,000 tons of vanadium/uranium ore.

In 1943 the U. S. Bureau of Mines drilled 51 diamond drill holes that covered an area of about 28 acres within the Yellow Circle claims area in an effort to stimulate production from the mines.

Three ore horizons were defined, with some of the better intercepts shown in this table.

Alba is moving forward rapidly to verify and expand on the historic data.

Currently, the verification drill holes have been staked and the locations are in the process of being submitted to the U. S. Bureau of Land Management to obtain drilling permits.

The shares are trading at $0.135.

For more information please visit the company’s website www.albamineralsltd.com, or contact Jason Powell, Investor Relations, at 604-779-6497 or email JasonAlbaMinerals@gmail.com.

I’m Megan Edwards for InvestmentPitch Media