Twitter Facebook LinkedIn YouTube

Alba Acquires Portfolio of Vanadium & Uranium Properties in Uravan Mineral Belt in Utah/Colorado

Video Platform Video Management Video Solutions Video Player

Journey, a private arms’ length company, holds a 100% interest in 5 properties in Colorado and Utah in addition to an option to acquire 100% of a 6th property, with a known historic resource. The properties are in and adjacent to the Uravan Mineral Belt which has seen extensive prospecting, exploration, drilling for and production of vanadium, uranium and radium since 1881.

Additional Information:

Company: Alba Minerals
Website: http://www.albamineralsltd.com
Stock Symbol: TSXV: AA
Date Published: May 7, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for InvestmentPitch Media

Alba Minerals announced the acquisition of Journey Exploration and its portfolio of prospective vanadium and uranium properties.

Journey, a private arms’ length company, holds a 100% interest in 5 properties in Colorado and Utah in addition to an option to acquire 100% of a 6th property, with a known historic resource.

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

The La Sal West Property, comprised of 176 vanadium and uranium claims totaling 3636 acres, is located in the La Sal District of San Juan County, Utah approximately 32 kilometers southeast of Moab, Utah.

The property which has seen considerable exploration and development over the years is easily accessed via dirt roads and 4-wheel drive trails leading off the highways.

The Lyons Property, comprised of 144 vanadium and uranium claims totaling 2,975 acres, is located in the La Sal Creek Mining District of Montrose County, Colorado.

The property is accessible by 4-wheel drives off the highway.

Nine mines are shown within the Lyons claim block on the geologic map of the La Sal Quadrangle.

The Polar Mesa Property, comprised of 181 vanadium and uranium claims totaling 3,739 acres, is located in the Gateway West Mining District of Grand County, Utah which lie north of the La Sal mountains.

The property has seen extensive exploration and development over the years, of which, the estimated production from the Polar Mesa Camp to 1945 was reported to be 10,060 tons of ore at an estimated grade of 3.24% vanadium and 0.46% uranium.

The Slick Rock Property, comprised of 158 vanadium and uranium claims totaling 2,604 acres, is located in the Slick Rock Mining District of San Miguel County, Colorado.

The area is readily accessible by roads, tracks and drill trails established by previous miners and explorers of the Spud Patch Group of Mines, which reportedly produced 24,000 tons at a grade of 2.2% vanadium
and 0.21% uranium between 1940 and 1951.

The Yellow Circle Property, comprised of 96 vanadium and uranium claims totaling 2,045 acres, is located in the Yellow Circle Mining District of San Juan County, Utah.

Total production from the Yellow Circle Property is unknown, but in 1943 the mines were credited with 1,624 tons of ore averaging 1.65% vanadium.

The Wray Mesa Property consists of two project areas, the Ajax and Dylan Projects, in the La Sal Trend of southeast Utah and southwest Colorado, with both projects located on the Utah side.

Both projects have historic resource calculations conducted by Homeland Uranium, Inc. in 2007, which at the time was focused on the uranium mineralization due to its higher value. They calculated the resource values listed in this table.

All six of the properties have undergone historical exploration, development and/or production of vanadium and uranium.

The five properties, with option to acquire the Wray Mesa Property, are collectively referred to as the Torado Vanadium & Uranium Project. which are located in the vicinity of Energy Fuels Inc., which is currently producing a high-purity vanadium product at commercial rates from the tailings pond solutions at its 100%-owned White Mesa Mill, which is located within trucking distance of Alba’s properties.

Furthermore, Energy Fuels is currently considering going back into full production at the La Sal Complex where they are undergoing a test-mining program to recover vanadium.

Sandy MacDougall, Chairman, stated: “Alba's mission to become a global player in the Green Energy revolution has been significantly advanced by this acquisition. The procurement of this high-profile portfolio of properties, all with historical workings, mines, excellent infrastructure and significant data is exceedingly rare and makes Alba a major force in the vanadium/uranium exploration, development and production space in Utah and Colorado. This acquisition complements Alba's existing portfolio of lithium properties as well as our significant investment in Noram's 143 million ton lithium resource in Clayton Valley, Nevada.”

The shares are trading at $0.13.

For more information please visit the company’s website www.albamineralsltd.com, or contact Sandy MacDougall, Chairman, at 778-999-2159.

I’m Nadika Viswakula for InvestmentPitch Media