TIDMUFO
RNS Number : 1161U
Alien Metals Limited
01 December 2021
Trading Symbols
AIM: UFO
FWB: I3A1
1 December 2021
Alien Metals Ltd
("Alien" or "the Company")
New Iron Ore Company established to expedite development
Follow the link to view the announcement in full including all
figures:
http://www.rns-pdf.londonstockexchange.com/rns/1161U_1-2021-11-30.pdf
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and
development company, is pleased to advise that, as part of its
development of the Hancock and Brockman Iron Ore projects, it has
formed a new wholly owned subsidiary named Iron Ore Company of
Australia Pty Ltd ('IOCA').
Highlights
-- IOCA has already commenced building a strong Perth based
management team, focussed on these iron ore projects in Western
Australia
-- IOCA has engaged a boutique environmental company, Green
Values Australia, to commence and complete necessary statutory
permitting to convert the Exploration Licence to a Mining Lease for
the Hancock tenement
-- Commencement of discussions with interested parties in Iron
Ore for possible offtake agreements
-- Company engagement with the contract mining sector for drill,
blast, crush and screen activities and with the contract haulage
and logistics sector
-- Planning of detailed metallurgical test work programme
-- Phase 3 drilling commenced
Bill Brodie Good, Chief Executive Officer & Technical
Director of Alien Metals, commented: "As part of the Company's
commitment to fast track the iron ore projects, we have created a
dedicated company, Iron Ore Company of Australia Pty Ltd (IOCA).
With the third phase of drilling at Hancock started and our Country
Manager, Lloyd Edmunds, continuing drive on the permitting and
development aspects, we are very pleased with the progress and
continue to push Hancock to be 'shovel ready' as soon as possible.
We remain extremely confident about the prospects for our iron ore
projects and look forward to updating the market as we go."
Figure 1: Location of Brockman and Hancock Iron Ore Projects,
Western Australia
Corporate
With the third phase drilling programme commenced at Hancock,
the recent very successful fund raising completed and the initial
Hancock scoping study from Mining Plus adding invaluable confidence
to the Hancock Project, the Company has now created a wholly owned
subsidiary to streamline the Hamersley Iron Ore Project, which
incorporates both Brockman and Hancock Projects, and have it
developed in its own entity, Iron Ore Company of Australia Pty
Ltd.
Hancock
Resource
A reverse circulation (RC) drilling programme totalling 1,400
metres aimed to increase geological confidence in the existing JORC
compliant Inferred Mineral Resource Estimate (MRE) of 10.4Mt @
60.4% Fe (see announcement dated 22 September 2021) has commenced.
IOCA's technical team is planning to potentially upgrade a portion
of the Inferred resource to the Indicated category at the Ridge C
and E deposits. The RC programme is designed to also test extension
mineralisation on the existing ridges as well as untested ridges to
the south.
In addition to the RC drilling, a diamond drill rig is planned
to drill up to 650m in 7 holes, to further support MRE confidence
levels, as well as to provide material for detailed metallurgical
and communitition testing as part of ongoing mining studies. Hand
held XRF readings are expected in the coming weeks from 60+ rock
chip samples collected during the recent field reconnaissance
programme to further add confidence to the development of the
project.
Development
Significant progress has already been made by our Country
Manager, Lloyd Edmunds, in terms of opening discussions on all the
main development and operational fronts to get some early but
essential concepts and thoughts from some of the major companies in
Australia already engaged in this type of work. This will allow
IOCA to have as much information available from an early stage to
be able to decide how best to develop the project. From experience,
the Company is also engaging early with the necessary government
agencies to enable good and timely cooperation as the project
develops. The main activities commenced already include:
-- Engagement with the contract mining sector for drill, blast, crush and screen activities.
-- Engagement with the contract haulage and logistics sector.
-- Discussions commencing with relevant government authorities,
including Pilbara Ports Authority and Main Roads of Western
Australia.
-- Planning of detailed metallurgical test work programme for
crushing and screening design work.
Offtake
IOCA is also commencing discussions with potential offtake
partners for our high-grade iron ore products. IOCA is encouraged
by the strong interest in higher grade iron ore projects as markets
look to reduce their environmental footprints via utilising >60%
Fe feedstock and as per the Company's strategy of opening up
discussions on several fronts at an early stage, which can only be
advantageous for timely development.
Statutory Approvals
As part of our fast track strategy, IOCA have engaged Green
Values Australia (GVA) to begin immediately the necessary suite of
studies and permitting requirements to get a mining licence granted
to IOCA for the Hancock project initiually. GVA is highly
experienced in the development of approvals for mining projects
through Western Australia and South Australia, with knowledge on
the studies, approvals and permitting processes associated with
project development and IOCA is pleased to have them on board and
working alongside to achieve timely goals.
Figure 2 : RC drilling at Hancock Project
Brockman
Maiden drilling on the Brockman tenement is still a priority,
with a follow up field mapping and sampling programme planned prior
to finalising a drilling programme, along with getting the
necessary permission to drill within the tenement.
Further updated will be provided in due course as
appropriate.
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited
Bill Brodie Good, CEO & Technical Director
(via St-James' Corporate Services, Company Secretary)
Tel: +44 20 7796 8644
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope
Tel: +44 (0) 20 3657 0050
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Sarah Hollins / Annabel Atkins / Matthew McHale
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
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 a
conditional agreement to increase its interest to 90% in May 2021
while 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. In November 2021 the company also
entered into a Binding Heads of Agreement (the 'Agreement') with
ASX listed Platina Resources Limited (ACN 119 007 939)(ASX: PGM)
('PGM') to acquire its 30% joint venture interest in the Munni
Munni Platinum Group Metals and Gold Project in the West Pilbara,
Western Australia.
The Company also holds two silver projects, San Celso and Los
Santos, 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 holds a Copper Gold project in the same
region, Donovan 2.
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.
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