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Alecto Minerals Plc: Another potential IOCG prospect

Contributed by Fox-Davies Capital

Alecto Minerals have announced a third phase of exploration within its 613square kilometre Wad Amour exploration license located in the highly prospective Mauritanide mobile belt within Mauritania.

A leading independent Iron Oxide Gold Copper (IOCG) specialist, Peter Pollard, has identified a new IOCG prospect named Gadel. It is located 24km southeast of the previously identified Chiron IOCG anomaly where rock chip sampling returned up to 5.6% copper, 0.66g/t gold and 13.9g/t silver with the anomalous copper values extending over a strike length of 800m.

Exploration, based on ground magnetics, soil sampling, mapping and trenching is planned to test the suspected extensions to the mineralisation at Chiron and Gadel This work is expected to advance the license to drill ready status, which is anticipated during the second quarter of 2013.