Update on exploration and forward planning
Trading Symbols
AIM: UFO
FWB: I3A1
22nd March 2021
Alien Metals Ltd
("Alien Metals" or "the Company")
Update on exploration and forward planning
Follow the link to view the announcement in full including all figures: http://www.rns-pdf.londonstockexchange.com/rns/9453S_1-2021-3-21.pdf
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to provide an update regarding the Company's exploration progress and planning in the coming months. The Company has updated its presentation which is now available on the website at https://www.alienmetals.uk/investors/ and will be presented at the Swiss Mining Forum this week.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
"With the maiden drilling program at our high-grade Hancock iron ore project just winding up, the upcoming report following the airborne magnetic survey over the Elizabeth Hill silver-PGE project, combined with some current on the ground reconnaissance work being done, we continue to advance our highly prospective portfolio of projects on a range of fronts. Drilling also continues at the Donavon 2 Copper and Gold project assay results will be announced as soon as they become available.
"On top of all this we are excited by the prospects of the Elizabeth Hill tailings opportunity and have been fortunate to have the services of a highly experienced consultant for the review work.
"I look forward to being able to provide more detail on each project as it comes available in the coming weeks and months."
The planned work over the next few months includes field mapping and verification of new and historic targets on the Elizabeth Hill project which includes the Munni Munni North licence, pushing ahead with the planned trenching close to the mine to explore for repeat mineralised systems, finalising an initial drill plan to work up knowledge of the remaining ore as well as evaluating the options and costs for re-entering the historic underground mine. Some site work is current and follow up work is in the pipeline to start as soon as we are able. In conjunction follow up exploration will be planned based on the Airborne Magnetic Survey interpretation results due any day. Figure 1 is an image of the area from the recent work with some excellent detail and potential targets from this ongoing work already evident and we are looking forward to getting the final report and targets to be able to push ahead with the planned work. Details of the target areas will be announced.
Figure 1: Initial Interpretation map, Airborne Aeromagnetic Study, Elizabeth Hill and Munni Munni North project Project
Evaluation work for the silver tailings at the mine site have also begun and will be continued in the coming weeks as well.
As we complete the maiden drilling program on the Hancock Iron Ore project we will report in more detail once all the data is compiled and once all the results are received be able to clearly plan the next phase of work, while pushing for the necessary authorisations to carry out a maiden drill program on the Brockman Project while planning to do some further mapping and surface sampling to cover ground not completed yet. We have scheduled to get back on the ground at Brockman in a couple of months' time to allow for permitting and preparation work. The latest map showing location of holes to date from the drilling on the Hancock Project is presented in figure 2 below.
Figure 2: Location of drill hole collars to date, Hancock Iron Ore Project, March 2021
The company is progressing with drill permits in Mexico to be able to commence the maiden drill programs on both San Celso and Los Campos silver projects. These programs are already funded and we are ready to get them started and have projected to be able to start at least San Celso in the next few weeks.
In the meantime, results are due shortly for a recent small surface sampling program on the Nueva Andromeda licence recently acquired by Alien and work is continuing to try and acquire further licences of strategic interest around San Celso and Los Campos.
In Mexico, at Alien's Donovan 2 Copper-Gold VMS project, Capstone Mining Corp continue the maiden drilling programme. The joint venture and current drilling is fully funded and Capstone manages the project to a high standard. The current drilling programme is planned for 2,500 meters.
The Company stresses that the outline of exploration presented is dependant on several factors which can be out of the Company's hands to control but that this pipeline of work is what is being focussed on by Alien with the necessary funding available to achieve the majority of this work to advance all the projects up the value curve and add knowledge and value to them all.
The Company looks forward to advising in more detail updates on all developments as they are available including results from the current drilling programs.
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 / Zoe Alexander 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 it made two acquisitions over the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver projects both located in the Pilbara region, Western Australia.
The Company also holds silver projects located in the 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.
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects in Mexico, Alien Metals has identified priority exploration targets within its nine mining concessions which it is working to advance systematically.
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