Alba Mineral Resources (AIM: ALBA) announced that the Snowdonia National Park Authority has granted planning permission for its proposed regional surface trenching programme.
In an operational update released this afternoon, Alba outlined to investors that the approval granted was subject to conditions, which the company said it believed it could fulfil.
The diversified mineral exploration and development firm also said an underground bulk sampling and drilling programme has commenced at its Clogau project in the national park.
The Company said it does not expect to release results until following the end of the programme and once laboratory assay results have been analysed and assessed.
Shares in Alba Mineral Resources have traded solidly over the past three months from lows of 0.08p per share in June 2020 and were trading 15.79% higher at 0.22p this afternoon.
The underground bulk sampling and drilling programme is expected to run for the month of September 2020, the company said, with assay results to be issued some time thereafter, depending on the normal timelines and workloads of the independent assay laboratory.
Meanwhile, Alba said the Government of Greenland has reduced the exploration obligations for 2020 to zero for all mineral exploration licences in response to the COVID-19 pandemic.
The Government has now further confirmed that all mineral exploration licences, including those held by the Alba group, are being extended by a further year ‘to make up for what is considered to have been effectively a lost year for exploration in Greenland.’
Alba, which has welcomed this decision and had actively lobbied for this outcome, said it views the verdict as ‘a reinforcement of Greenland's continued pro-mining outlook.’
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