Drill Programme Completed at Munni Munni Project
Summary by AI BETAClose X
Trading Symbols
AIM: UFO
FWB: I3A1
9 March 2026
Alien Metals Limited
("Alien" or the "Company")
Drill Programme Completed at Munni Munni PGE-Cu-Ni Project, WA
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to advise that its joint venture partner, GreenTech Metals Limited (ASX: GRE) ("GreenTech"), has announced that the Phase 1 drill Programme has been completed at the Munni Munni Platinum-Palladium-Copper-Nickel Project in the West Pilbara region of Western Australia.
Bruce Garlick, Chairman of Alien Metals, commented:
"Completion of the Phase 1 drill Programme at Munni Munni marks an important milestone for our joint venture with GreenTech Metals. The accelerated Programme, made possible by the excellent preservation of historical core, has provided both time and cost efficiencies while ensuring the work necessary to transition the historic resource to modern JORC (2012) standards is well underway.
"We are encouraged by the progress to date and look forward to the forthcoming assay results, which represent a key step toward unlocking the broader potential of Munni Munni. With strengthening market conditions for PGEs and continued district-scale consolidation, Alien remains well positioned to benefit from the value that a modernised resource and future development pathway could deliver for our shareholders."
The full text of the announcement issued by GreenTech Metals is provided below in Appendix A.
For further information, please visit the Company's website at www.alienmetals.uk or contact:
Alien Metals Limited
Bruce Garlick
Email: ir@alienmetals.uk
Strand Hanson (Financial and Nominated Adviser)
James Harris / James Dance / Edward Foulkes
Tel: +44 (0) 207 409 3494
Zeus Capital Limited (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 203 829 5000
Turner Pope (Joint Broker)
Andy Thacker / Guy McDougall
Tel: +44 (0) 203 657 0050
Yellow Jersey (Financial PR)
Charles Goodwin / Shivantha Thambirajah
Tel: +44 (0) 203 004 9512
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company follows a balanced strategy of advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures, and selective monetisation opportunities that are value-enhancing for shareholders. At the same time, Alien will continue to consider opportunities to expand our asset base through carefully selected acquisition opportunities which meet the Board's prudent criteria.
Alien's principal focus is the advancement and development of its 90%-owned Hancock Iron Ore Project in the central Pilbara region of Western Australia. The Hancock tenements contain a JORC-compliant resource of 8.4Mt at 60% Fe and offer significant exploration upside, which is targeted to deliver a mining operation of 2Mtpa for 10 years. The Project benefits from direct access to the Great Northern Highway, providing a route to export facilities at Port Hedland, one of the world's largest iron ore export hubs. Alien also holds exploration interests in the Brockman and Vivash iron ore projects in the West Pilbara.
Alien additionally retains exposure to two advanced precious and base metal assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems hosting a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium) and gold, the Company has completed its partial asset sale and joint venture transaction with GreenTech Metals Ltd, under which Alien has divested a 70% interest in the Munni Munni tenements to GreenTech and Alien will retain a 30% interest, free carried to the completion of a bankable feasibility study at Munni Munni. Alien (via wholly owned subsidiary A.C.N. 643 478 371 Pty Ltd) also retains a 30% interest in the Elizabeth Hill Silver Project through a joint venture with Crest, which encompasses the Elizabeth Hill Mining Lease M47/342, which has produced some of Australia's highest-grade silver ore during the late 1990s.
Competent Person's Statement
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled or reviewed by Mr Thomas Reddicliffe a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Reddicliffe is a Technical Director of GreenTech Metals Ltd.
Mr Reddicliffe has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and a Specialist under the 2015 Edition of the 'Australasian Code for Public Reporting of technical assessments and valuations of mineral assets'.
Mr Reddicliffe consents to the inclusion in the report of the matters based on his information and in the form and context in which it appears.
Appendix A - ASX: GRE ANNOUNCEMENT
Drill Programme Completed at Munni Munni PGE-Cu-Ni Project, WA
Highlights
· Phase 1 drilling Programme completed at the recently acquired Munni Munni Platinum-Palladium-Copper-Nickel Project in WA.
· Total combined Reverse Circulation (RC) and Diamond (DD) drilling of 2,682 metres for 12 holes completed, including 6 infill RC holes to provide information on resource continuity in selected areas.
· Excellent preservation of the stored Munni Munni historical core has enabled resampling of selected mineralised core sections to make up the complement of drill holes required to undertake QA/QC validation of the historical resource.
· Sampling of historical core from 16 drill holes is complete, accelerating the QA/QC process and providing significant savings in drilling costs.
· All Programme samples totalling 2,143 have been dispatched to ALS Laboratories in Perth for analysis, with results anticipated in 4-6 weeks.
· QA/QC validation of the historic resource data is being undertaken by resource consultants Snowden Optiro as part of a Programme intended to support the preparation of a Mineral Resource Estimate in accordance with the JORC Code (2012). This work will be finalised once all sample results are received.
· The Munni Munni PGE-Cu-Ni Project is situated on granted Mining Leases (ML's) with a historical JORC (2004) Mineral Resource Estimate (MRE) of 24 Mt @ 2.9 g/t 4E (PGE+Au) for 2.2Moz (HLX, 2002). This MRE was historically defined in the period 1985-2002 with 91,077m of drilling comprising 328 drill holes.
Cautionary Statement - The estimates are historical estimates and are not reported in accordance with the JORC Code (2012); a competent person has not done sufficient work to classify the historical estimates as mineral resources or ore reserves in accordance with the JORC Code (2012); and it is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code (2012).
GreenTech Metals Ltd (ASX: GRE) (GreenTech or the Company) is pleased to announce that the Phase 1 drill Programme is completed at the recently acquired Munni Munni Platinum-Palladium-Copper-Nickel Project, located adjacent to the Company's advanced Whundo Copper-Zinc-Gold Project in the West Pilbara region of Western Australia. This Programme was completed ahead of schedule due to the availability and excellent preservation of the stored Munni Munni historical core, which enabled planned drill holes to be replaced by the resampling of mineralised sections of core from selected historical drill holes.
Chief Executive Officer, James Rattenbury, commented:
"We are very pleased that our Phase 1 drill Programme at Munni Munni was completed ahead of schedule due to the availability and suitability of the stored historical drill core at Munni Munni. This has accelerated our Programme, reduced costs, and pushes us closer to a key objective of unlocking the full potential of this world-class Platinum-Palladium-Copper-Nickel project.
"With strong global demand for PGEs, improving metal prices and district-scale consolidation achieved, this Phase 1 drill Programme is designed to transition Munni Munni into a modern, JORC (2012) Resource and position the Company for the next phase of technical and commercial evaluation to create value for our shareholders."
Photo 1: Diamond Rig on Hole 26GTDD004 at Munni Munni PGE-Cu-Ni Project
Drill Programme and Historic Core Sampling
The Phase 1 drill Programme was originally planned to comprise up to 20 RC / DD holes for approximately 6,000m to provide QA/QC verification of the historical modelled resource sufficient to enable a re-estimation of the MRE to JORC (2012) standard. This Programme was modified following an assessment of the Munni Munni historical core, which is stored in a core shed and associated core farm at the Munni Munni site.
The excellent preservation of the stored Munni Munni historical core has enabled resampling of mineralised core sections from selected historical drill holes as a replacement for the drilling of new holes and to make up the complement of drill holes required to undertake the QA/QC validation of the historical resource. The selected sampling of this historic core has accelerated the QA/QC process as well as providing significant savings in drilling costs.
In summary, 6 new DD/RC holes were completed and drill core from 16 historical drill holes was selected for sampling. In addition, a further 6 infill RC holes were drilled to provide information on resource continuity in selected areas.
All 2,143 samples from the Programme have been dispatched for analysis at ALS Global laboratories in Perth. The first results from initial batches submitted are expected in April. Laboratory results turnaround is currently 4-6 weeks.
Figure 1: Location of the 2026 Programme Drill Holes and the Sampled Historical Drill holes
Historic Resource QA/QC validation
Greentech has engaged resource consultants Snowden Optiro to undertake QA/QC validation of historic resource data. The validation work is intended to support the preparation of a Mineral Resource Estimate in accordance with the JORC Code (2012), which is anticipated to be completed in Q2 2026 once all sample laboratory results are received and incorporated.
Photo 2: Example of core from Munni Munni historic drilling demonstrating excellent preservation
ENDS
This announcement has been authorised for release by the Board of GreenTech Metals Limited.
For further information, please contact:
James Rattenbury Jason Mack
Chief Executive Officer Investor Relations
GreenTech Metals Limited White Noise Communications
info@greentechmetals.com.au jason@whitenoisecomms.com
About The Munni Munni PGE-Cu-Ni Project
The Munni Munni Project is one of Australia's most significant platinum group element (PGE) intrusions, hosting a large, laterally continuous reef containing platinum, palladium, rhodium and gold. The project has an extensive exploration history and several key attributes:
· Well-established PGE-Cu-Ni endowment: Historic drilling and metallurgical work have confirmed strong grades within the Ferguson Reef, one of Australia's largest layered PGE-bearing systems.
· Previous development activity: Multiple operators advanced the project through substantial drilling, testwork and resource modelling. Earlier development stalled mainly due to weaker PGE prices at the time.
· Conventional processing pathway: Historical studies indicate the mineralisation responds well to traditional flotation and concentration techniques.
· Significant growth potential: Mineralisation remains open along strike and at depth, with modern geophysics and drilling across the now-consolidated tenure expected to unlock additional high-grade zones.
· Tier-1 mining jurisdiction: Located in the Pilbara region of Western Australia on a granted mining lease, with proximity to the Radio Hill processing facility (third-party owned; GRE has no current agreement in place).
The consolidation of the surrounding land into a single 346.4km² contiguous package provides a strategic opportunity for district-scale exploration. The package covers a substantial portion of the Munni Munni intrusion and associated fault systems, which are prospective for both expansion of the known PGE-Cu-Ni Reef and the discovery of additional PGE sulphide targets along parallel structural corridors.
Munni Munni Project Tenement Location Plan
Competent Person Statement
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled or reviewed by Mr Thomas Reddicliffe a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Reddicliffe is a Technical Director of GreenTech Metals Ltd.
Mr Reddicliffe has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and a Specialist under the 2015 Edition of the 'Australasian Code for Public Reporting of technical assessments and valuations of mineral assets'.
Mr Reddicliffe consents to the inclusion in the report of the matters based on his information and in the form and context in which it appears.
Forward-Looking Statements
Statements in this announcement which are not statements of historical facts, including but not limited to those relating to the proposed transaction, are forward-looking statements. These statements instead represent management's current expectations, estimates and projections regarding future events. Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on such statements.
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