Trading Symbols
AIM: UFO
FWB: I3A1
29 April
2019
Alien Metals Ltd
(“Alien” or “the Company”)
Donovan 2
Exploration Update Further Supports VMS Style Mineralisation
Alien Metals Limited (“Alien” or the “Company”) is pleased to
announce an exploration update for the company’s 100% owned Donovan
2 mining concession.
Highlights
- Detailed surface mapping:
- further supports indications of Volcanogenic Massive
Sulphide (VMS) mineralisation on multiple target areas which are
open along strike
- identified zones of alteration indicating the top of a VMS
system
- of low-lying outcrop has identified additional areas of
pervasive alteration
- Sample assays of up to 3.34% Cu and 0.25% Zn
- Geophysics suggests magnetic and resistive units are
correlated at depth below areas of surface mineralisation and
alteration
- Ongoing mapping of historical underground mine workings
reveals copper mineralisation
- Geophysical gravity survey in progress to test for inference
of sulphide mineralisation
Peter Taylor CEO of Alien commented: “The district
surrounding Donovan 2 is staked by Mexican and Canadian base and
precious metal producers. We are delighted to be rubbing shoulders
with these mining companies and look forward to updating the market
with the gravity survey, further assays and drilling
results.”
The Donovan 2 project is located 45 Km southeast of Zacatecas city, Zacatecas State, Mexico. Alien’s geologists collected 44
surface samples consisting of: rock chip, float samples and
historic dump samples during a detailed exploration program to
complement the geophysics and surface mapping conducted since
November 2018. Three samples returned
assays in excess of 1000ppm Cu.
Mineralisation at Donovan 2
Volcanogenic massive sulphide ore deposits, also known
as VMS ore deposits, are a type of metal sulphide
ore deposit, mainly copper-zinc which are associated with and
created by volcanic-associated hydrothermal events in submarine
environments. VMS style deposits occur in clusters on the ancient
sea-floor. Similar VMS style projects include the Teck Resources
Limited San Nicolás Property that lies within 24km of Donovan 2 and
reports a National Instrument 43-101 compliant Measured and
Indicated resource of 108.9Mt and average grades including 1.16% Cu
and 0.43g/t Au.
Surface Exploration
Since commencing detailed exploration activities at Donovan 2 in
November 2018, the company has
completed detailed mapping on the 746-hectare property. The samples
consisted of rock-chip, dump samples from historic workings, and
float samples (not in-situ surface samples). The samples are
delivering valuable information to guide ongoing targeting
efforts.
Highlighted rock chip, float and dump samples |
Sample ID |
Sample Type |
Cu
ppm |
Zn
ppm |
Pb
ppm |
Au
ppm |
6872 |
Dump |
33,400 |
636 |
17 |
<0.005 |
6899 |
Float |
3,440 |
2,420 |
338 |
<0.005 |
6883 |
Chips |
1,870 |
275 |
17 |
<0.005 |
6874 |
Dump |
934 |
77 |
12 |
0.019 |
6877 |
Dump |
267 |
16 |
2 |
<0.005 |
6876 |
Float |
141 |
20 |
2 |
<0.005 |
6894 |
Float |
136 |
2,500 |
723 |
0.031 |
This has included the identification of two main target areas
for follow up work, known as Cerro de la Cruz and El Bordo.
Forty-four surface samples were collected and analysed during the
mapping and prospecting campaign. Of specific interest are zones of
silicification, alunite veining and high-grade quartz float samples
at the Cerro de la Cruz target including sample 6872 with an assay
of 3.34% Cu. Dump sample 6872 has been traced to historical
underground mine workings. The mine has been entered and the
copper-bearing structure has been identified. Further detailed
mapping and sampling are in progress. The El Bordo target is
essentially under soil cover with minimal surface samples.
The results from the Total Magnetic Intensity and Induced
Polarity (“IP”) surveys further support and identify the two main
targets. Images showing copper assay values and surface alteration,
together with resistivity and chargeability 2D inversion models
generated using UBC DCIP2D v5 inversion code, have been published
on
www.alienmetals.uk/projects/vms-projects/exploration-results.
The objective of the detailed mapping program on Donovan 2 was
to provide further supporting evidence of VMS style mineralisation
at Donovan 2.
The identification of zones of alteration consisting of alunite
veining, chalcedonic quartz veinlets, silicification and traces of
kaolinite in combination with anomalous values of copper and zinc
are suggestive to be the top of a VMS system. These zones are open
along strike to the northwest and southeast. These results based on
success of the initial detailed surface mapping allows for a
further follow-up geophysical program. A detailed gravity survey is
currently in progress over the two target areas. Subject to these
results, a drill campaign will be undertaken in Q2.
Standards were inserted approximately every 15th sample in
the sample suite and blanks were carefully inserted between
mineralised vein samples. Samples were placed in high-density
plastic bags and sealed with plastic ties. Samples were stored in a
locked warehouse until company geologists delivered samples to ALS
Global Preparation Facilities in Zacatecas City, Zacatecas State, Mexico.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information please visit the Company’s website
at www.alienmetals.uk, or
contact:
Alien Metals
Limited
Peter Taylor, CEO
David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599 |
Yellow Jersey PR
Limited
Felicity Winkles/Annabel Atkins
Tel: +44 (0)774 884 3871 |
Beaumont Cornish
Limited (Nomad)
James Biddle/ Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396 |
First Equity Limited
(Broker)
Jason Robertson
Tel +44 (0)20 7374 2212 |
Qualified Person
The information in this report that relates to exploration
targets, exploration results, and other information of a technical
nature has been reviewed by Dr Lex Lambeck Ph.D, a technical
consultant to the Company. Dr Lambeck is a Member of the American
Institute of Professional Geologists and a Certified Professional
Geologist, CPG-11734, with over 15 years of relevant experience in
exploration and assessment of resource projects.
Forward-Looking Information
This press release contains certain “forward-looking
information”. All statements, other than statements of historical
fact that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future are deemed forward-looking information.
This forward-looking information reflects the current
expectations or beliefs of the Company based on information
currently available to the Company as well as certain assumptions,
including the availability of sufficient funds. Forward-looking
information is subject to a number of significant risks and
uncertainties and other factors that may cause the actual results
of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are
realised or substantially realised, there can be no assurance that
they will have the expected consequences to, or effects on the
Company.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
Notes to Editors
Alien Metals Limited is an AIM quoted mining exploration and
development company. Since the recomposition of the Board and
company name change in 2018, Alien has focused on delivering its
strategy of acquiring mining projects which demonstrate significant
development upside, in jurisdictions with established
infrastructure and mining codes, and where strong operational
controls can be assured.
In addition to progressing its acquisition-led strategy,
following the strategic review of its portfolio of projects in
Mexico during 2018-19, the Company
has identified exploration targets across its 12 mining concessions
in Zacatecas, Mexico, which it is
working to advance systematically.