Alba Acquires Torado Vanadium & Uranium Project: Lyons Property Highlights – 9 Historic Mines
Vancouver, British Columbia – May 14, 2019 – Alba Minerals Ltd. (“Alba”) (TSX - Venture: AA / Frankfurt: A117RU / OTC: AXVEF is pleased to highlight the Lyons Property which features 9 historic mines. The Property is 19 km from the La Sal Complex operated by Energy Fuels Inc. where they are currently running a test mining program targeting vanadium.
The Lyons Property is located in Montrose County, Colorado and abuts the Utah-Colorado border. It consists of 144 lode claims with an area of 2975.04 acres (1204 hectares). The claims are adjacent to Colorado Highway 90, which is an extension of Utah Highway 46 that changes designation at the state line. The property is accessible via 4-wheel drive roads off of the highway.
Figure 1 – Lyons claims.
This property has seen extensive exploration and development work, which began in 1913 and has been intermittent since that time. The major amount of mining occurred in the 1950s. The primary commodity of interest historically has been uranium. Vanadium was also recovered as a byproduct and sometimes as the primary element depending on demand at the time (Carter and Gualtieri, 1965).
Pre-1946 vanadium production from the La Sal Creek district, of which the Lyons property is a part, is estimated at 11,440 tonnes containing 220,788 kg of V2O5 (approximately 1.9% V2O5) (Chenowith, 1981). Nine mines are shown within the Lyons claim block on the geologic map of the La Sal Quadrangle (Carter and Gualtieri, 1965).
Figure 1 - A portion of the geologic map of the La Sal quadrangle showing the locations of the nine mines within the Lyons Property. Available vanadium-uranium ratios for the various districts in the quadrangle report 6.3 : 1 in La Sal
Several of the mines were discussed in detail in the text of the U. S. Geological Survey (USGS)report and Table 1 is a listing of the U3O8 and V2O5 grades and their approximate ratios for each mine discussed by Carter and Gualtieri (1965) up through the end of the study (1956).
New Yellow Spot
Table 1 - Average grades mined through 1956.
Figure 3 shows some of the extensive exploration work completed by the USGS up through 1956 (modified from (Carter and Gualtieri, 1965, Plate 4). The small circles on the map indicate diamond drill holes. In all of the La Sal Creek Mineral Belt the USGS drilled a total of 505 holes with a total footage of 123,371 feet (37,603m) of drilling. The outline of the Lyons claim block has been superimposed on the map.
Figure 2 - La Sal Creek area showing work completed by the USGS.
Ten surface grab rock samples were collected from the Lyons property in September 2018. The samples were sent to ALS Laboratories in Reno, Nevada for analysis. Figure 6.4 shows the locations of the samples within the Lyons claim block. Table 2 lists the UTM coordinates, uranium and vanadium assay results.
Figure 4 - Locations of samples collected September 26, 2018
Table 2 – Lyons surface sample assay results.
The transaction with Journey Exploration Inc. remains subject to TSX Venture Exchange approval.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to the Torado Vanadium & Uranium Project as defined under National Instrument 43-101.
Carter, W. D. and Gualtieri, J. L., 1956, La Sal Creek Area, Montrose County, Colorado: U. S. Geological Survey Trace Element Investigation TEI-620, pp. 57-60.
Chenowith, William L., 1981, The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah: New Mexico Geological Society Guidebook, 32nd Field Conference, Western Slope, Colorado.
About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with a diverse portfolio of projects and investments in North and South America. Alba is focused on the development of the following interests:
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ON BEHALF OF THE BOARD OF DIRECTORS
Chairman & Director
Phone: (778) 999-2159
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
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