Alba Makes Initial Payment on Its Option with Noram and Commences Drilling on Its Lithium Brine/Clay Project in Nevada's Clayton Valley
Vancouver, December 8, 2016 - Alba Minerals Ltd. (TSXV: AA.H) (OTC Pink: AXVEF) ("Alba"), is pleased to announce that in keeping with the terms of the LOI announced on (December 5th 2016), Alba has made the initial option payment of $127,500 and the drilling crew has been mobilized. The 55 hole drilling program has commenced which is situated, just east of Albemarle's lithium brine operation and approximately six miles (10 km) northeast of Silver Peak, Nevada (Figure 1). The Phase I core drilling program will focus on the Noram's South Block claims with some 55 holes to be drilled in the main target area that measures approximately two and a half miles (4.1 km) by one and a half miles (2.4 km) on the Zeus claims and border of the Zeus Extension claims (Photo 1). And an additional five holes to be drilled on the adjacent Hades claims around the historical shaft where lithium values over 1,000 ppm were sampled from the spoil pile (Photo 2). The Program, that will include drilling, core logging, splitting, sampling, and assay analysis, is expected to be completed by mid-January 2017.
"We are very pleased to be entering the first phase of core drilling program in the Clayton Valley," said Sandy MacDougall Chairman of Alba. "Our objective with Noram is to delineate a portion of the lithium mineralization on the South Block claims and produce an initial, National Instrument 43-101 resource estimate by the mid-January 2017."
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is an independent Qualified Person as defined under NI 43-101 with respect to Noram's Clayton Valley Lithium Project.
For further information, please contact:
Alba Minerals Ltd
Sandy MacDougall
Chairman
Phone: 778-999-2159
Website: www.albamineralsltd.com
Forward-looking Information
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 circumstances or management's estimates or opinions change.
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