InvestmentPitch Media Video Discusses Alba Minerals, Highlighting Recent Acquisition of La Sal West Property in Uravan Mineral Belt - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 17, 2019) - Alba Minerals (TSXV: AA) (FSE: A117RU) (OTC Pink: AXVEF) recently acquired all of the issued and outstanding share capital of Journey Exploration. Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah, adjacent to the Uravan Mineral Belt in which extensive prospecting, exploration, drilling and ore production has occurred for vanadium, uranium and radium since 1881.
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Alba has released highlights from La Sal West Property, which is located in San Juan County, Utah, about 32 kilometers southeast of Moab. The La Sal West Property, which consists of 176 vanadium and uranium lode claims with an approximate area of 3,626 acres, is adjacent to several historic discoveries, namely the Rattlesnake mine which is 3.5 kilometers to the southeast of the La Sal West Property. The property is near the junction of US Highway 191 and Utah Highway 46 and can be easily accessed via dirt roads and 4-wheel drive trails leading off the highways.
The Property occurs on the La Sal Trend, approximately 5 kilometers from the La Sal Complex operated by Energy Fuels Inc. who is currently running a test mining program targeting vanadium production and is in close proximity to numerous past producing mines. Energy Fuels owns and operates the nearby La Sal Complex which is comprised of a series or uranium and vanadium mines including the Beaver, Pandora, La Sal, Energy Queen and Redd Block Projects. The Beaver and Pandora mines are fully permitted and developed and were in production as recent as 2012.
According to a news release in April by Energy Fuels, they are currently producing high-purity vanadium product at commercial rates from the pond solutions at the White Mesa Mill, which is the only conventional vanadium processing facility in the United States. Additionally, Energy Fuels has continued their conventional vanadium test-mining program at the La Sal and Pandora mines and has announced their expectation to deploy these new mining techniques at full production rates once they decide to go back into full production at the La Sal Complex.
Sandy MacDougall, Chairman and Director, stated: "The proximity of the La Sal West Property to the operations of EFR at the La Sal Complex provides a unique opportunity for Alba. EFR, while not currently active in uranium production, has focused considerable effort in the development and refinement of their vanadium production techniques. With the recent refurbishing of the Pandora and La Sal mines, full production at these facilities is a near term reality. The La Sal West is ideally situated to complement these existing mines in the area. While global prices for vanadium have been highly volatile, the Company is well poised with these 6 acquisitions to be a competitive force in both the uranium and vanadium markets."
Mineralization hosted on the Energy Fuel properties is not necessarily indicative of the mineralization that may be hosted on the company's La Sal West Property. However, areas of extensive drill road development, drill pads and small mine dumps are noted in several areas of the La Sal West Property.
Since the work was done by private entities, very little of the information is in the public record, although numerous historic reports and records refer to drilling and small amounts of production from the area. One such Engineering and Geologic report from 1957 written on behalf of Gramlich Exploration Co., based upon historic production in the area, is summarized in the table in the video.
Vanadium, a naturally occurring mineral found in many uranium mines, is also on the U.S. Government's list of "Critical Minerals."
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