TIDMUFO
RNS Number : 1291D
Alien Metals Limited
26 October 2020
Trading Symbols
AIM: UFO
FWB: I3A1
26(th) October 2020
Alien Metals Ltd
("Alien Metals" or "the Company")
Follow the link to view the announcement in full including all
figures:
http://www.rns-pdf.londonstockexchange.com/rns/1291D_1-2020-10-25.pdf
M&A update on Mexico Silver Projects and award of new
licence adjacent to world class Citronen Zinc-Lead deposit,
Greenland
Highlights:
- Alien has been awarded a 208 km(2) exploration licence in
northern Greenland, surrounding the world class Citronen zinc-lead
project owned by Ironbark Zinc Limited, licence number 2020-44.
- Citronen hosts a resource in excess of 13 billion pounds of
contained zinc and lead metal and is one of the largest undeveloped
zinc-lead projects globally
- Alien will soon commence a detailed review of historical data
available over the project area
- IBK Capital have commenced marketing process for the Company's
San Celso and Los Campos silver projects in Mexico
- This has occurred following the recent transaction executed
with Capstone Mining for the Donovan 2 copper-gold project also in
Mexico
- The Company continues to review a range of project
opportunities in key mining jurisdictions worldwide
Alien Metals Ltd (LSE AIM:UFO) (Alien Metals or the Company), a
minerals exploration and development company, is pleased to advise
that it has been successfully granted a 208 km(2) exploration
licence in northern Greenland, surrounding the world class Citronen
zinc-lead project owned by Ironbark Zinc Limited (ASX:IBG)
(Ironbark), Licence number 2020-44.
The Citronen project is believed to be one of the world's
largest undeveloped zinc-lead projects, with a JORC resource of
131.1 million tonnes @ 4.5% Zn + Pb (for 13 billion pounds of
contained zinc and lead metal) (Ironbark ASX Announcement 12th
March 2020). The awarding of the licence to Alien, which is valid
until 31 December 2023, continues with the Company's strategy of
identifying counter-cyclical opportunities in first class mining
jurisdictions with excellent upside potential. The licence covers
prospective ground on strike east and west of the Citronen project
area and previously held by Ironbark, adjoining their Citronen
project (Figures 2 and 3).
Chief Executive Officer, Bill Brodie Good said :
"The Company and its advisers continue to assess new projects
and identified an opportunity to secure an exploration footprint in
northern Greenland on strike and adjacent to the world class
undeveloped Citronen zinc-lead project. Greenland is known for its
low-sovereign risk, prospective geology and great potential in the
resource sector.
"The Company's immediate focus is to undertake a comprehensive
review of the licence area to guide initial work programmes. We are
also very pleased that IBK Capital investment bank have agreed to
support our Mexico silver projects and look forward to updating the
market as news develops."
Figure 1. Permit area, Greenland
Figure 2. Location of Ironbark Zinc Ltd's Citronen zinc-lead
deposit and permit area, Greenland
Figure 3: Location exploration licence 2020-44 (Alien Metals
Ltd) and the Citronen zinc-lead project (Ironbark Zinc Ltd),
Greenland
Next Steps
The Company has commenced a process of obtaining all historical
information relevant to the licence area, including information
publicly disclosed, to gain a better understanding of the licence
potential and to aid maiden exploration. Discussions have already
commenced with third parties with a view to joint venture and
earn-in into the newly acquired exploration licences.
Mexican Silver Projects
Following the successful earn-in transaction with Capstone
Mining announced on the 21st October 2020 regarding the Company's
Donovan 2 copper-gold project, the Company is working with its
North American advisor IBK Capital regarding a similar marketing
process for the high-grade San Celso and Los Campos silver projects
in Mexico. IBK considers both projects offer an attractive entry
into one of the world's premier silver belts and will soon commence
marketing of the projects to a range of potential investors and
project partners.
The Company will continue its efforts in exploring and
developing the projects and simultaneously consider third party
funding options to develop and mining the projects minimising
dilution to shareholders.
The Company looks forward to updating the market in due course
regarding progress in Greenland and Mexico.
For further information please visit the Company's website at
www.alienmetals.uk , or contact:
Alien Metals Limited First Equity Limited
Bill Brodie Good, CEO & Technical (J oint Broker)
Director Jason Robertson
St-James' Corporate Services, Tel +44 (0)20 7374 2212
Company Secretary
Tel: +44 20 7796 8644
Beaumont Cornish Limited Novum Securities Limited
(Nomad) (Joint Broker)
James Biddle/ Roland Cornish Jon Belliss
www.beaumontcornish.com Tel +44 (0)20 7399 9425
Tel: +44 (0) 207 628 3396
Blytheweigh Turner Pope Investments Limited
(Financial PR) (Joint Broker)
Megan Ray/Rachael Brooks Andy Thacker/ Zoe Alexander
Tel: +44 (0) 207 138 3204 Tel +44 (0)20 3657 0050
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. The Company's
silver projects in Mexico are 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. A significant copper-gold
project, the Donovan 2, has recently been the subject of a
multi-million dollar Earn-in Agreement with Mid-Tier Canadian miner
Capstone Mining Corp (TSX:CS).
Alien Metals has embarked upon an acquisition-led strategy
headed by a high-quality geological team to build a strong
portfolio of diversified assets. Acquisitions within the last 12
months include the Brockman and Hancock Ranges high-grade (Direct
Shipping Ore) iron ore projects, the Elizabeth Hill Silver project
and a major Exploration Licence surrounding the silver project and
Munni Munni PGM deposit located in the prolific Pilbara region of
Western Australia.
In addition to progressing and developing its portfolio of
assets the Company continues to review new potential projects to
add to the existing portfolio.
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