Phase 2 drilling commences on Hancock Licence
Trading Symbols
AIM: UFO
FWB: I3A1
25th May 2021
Alien Metals Ltd
("Alien Metals", "Alien" or "the Company")
Phase 2 drilling commences on Hancock Licence, Hamersley Iron Ore Project
Follow the link to view the announcement in full including all figures:
http://www.rns-pdf.londonstockexchange.com/rns/6533Z_1-2021-5-24.pdf
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to advise that it has commenced the second phase of drilling on the Hancock Licence, part of the Hamersley Direct Shipping Iron Ore High Grade Project in the Pilbara region of Western Australia following the excellent maiden drilling program recently completed.
The Company had sufficient confidence from the first batch of drill results from Phase 1 - both analytically and geologically - to return to the field and push on with an in-fill and extension drilling program, using the same drill rig and drill team. Further, preliminary assay results have been received now on all samples from the Phase 1 drill program and, once QA / QC is completed and reviewed, we look forward to updating the market as soon as possible.
The Company's focus for Phase 2 of drilling will be to seek a potential maiden resource on the Sirius Extension Prospect, adding knowledge and potential to the Ridge E Direct Shipping Ore ("DSO") anomaly already defined and will also test some newly identified DSO targets within the main area already drilled, including ridge C. If possible the Company may also consider surface reconnaisacne and mapping on some untested areas to further expand its knowledge of the project.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: " With the recent announcement of our plans to increase our interest in the Hamersley Iron Ore DSO Project from 51% to over 90%, as well as the robust global demand for Iron Ore and its recent price surge, we are really excited to be driving this next Phase of drilling forward at Hancock while continuing to work on the necessary paperwork to commence maiden drilling on the exciting Brockman Licence further west.
"We look forward to updating the market further as we proceed to move the Hamersley projects up the value curve to deliver value for shareholders."
Figure 1: Hamersley Iron Ore Project, location of licences, Western Australia, May 2021
Figure 2: Detail of drill hole locations, Hancock Ridges A-E and Kalgan Prospect, Hancock Tenement, Hamersley Iron Ore Project, March 2021
For further information please visit the Company's website at www.alienmetals.uk , or contact:
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Alien Metals Limited Bill Brodie Good, CEO & Technical Director
St-James' Corporate Services, Company Secretary
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Turner Pope Investments (TPI) Limited (Joint Broker) Andy Thacker / James Pope Tel +44 (0)20 3657 0050 |
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Beaumont Cornish Limited (Nomad) James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396 |
First Equity Limited (Joint Broker) Jason Robertson Tel +44 (0)20 7374 2212 |
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Yellow Jersey PR (Financial PR) Sarah Hollins / Joe Burgess / Matthew McHale alienmetals@yellowjerseypr.com Tel: +44 (0) 20 3004 9512
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Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.
In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in 2020 acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.
The Company also holds two silver projects located in Zacatecas State, Mexico's largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company's Donovan 2 Copper Gold project in the same region is currently under an Earn-in agreement with Capstone Mining Corp. of Canada.
The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically.
Appendix
Figure 1: Drill holes locations under historic surface sampling, Hancock Tenement, Hamersley Iron Ore Project, April 2021
Figure 2: Detail of drill hole locations, Hancock Ridges A-E and Kalgan Prospect, Hancock Tenement, Hamersley Iron Ore Project, March 2021
Figure 3: Interpreted untested BIF Ridges, Hancock Tenement, Hamersley Iron Ore Project, April 2021
Figure 4: Location of Brockman Project, Hamersley Iron Ore Project, April 2021
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