TIDMUFO
RNS Number : 0014N
Alien Metals Limited
27 May 2022
Trading Symbols
AIM: UFO
FWB: I3A1
27 May 2022
OTC: ASLRF
Alien Metals Ltd
("Alien" or "the Company")
Phase 4 resource drilling underway at the Hancock Iron Ore
Project
Follow the link to view the announcement in full including all
figures:
http://www.rns-pdf.londonstockexchange.com/rns/0014N_1-2022-5-26.pdf
Alien Metals Ltd (AIM:UFO), a minerals exploration and
development company, is pleased to provide an update on the
Company's Hancock Iron Ore Project, part of its Hamersley Iron Ore
Project, Western Australia.
Highlights
-- A Reverse Circulation (RC) drilling programme totalling 2,100
metres aimed to further 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) is
underway
-- Following receipt of assays from the Phase 4 programme, Alien
aims to upgrade a portion of the MRE to indicated status (covering
ridges C and E), which would support upcoming mine planning
-- Initial drill testing will be undertaken across the 3km
strike length of targets on ridges F and G, which were recently
defined from surface sampling (see announcement dated 2 March
2022)
-- Alien to undertake detailed mapping and sampling of newly
identified targets at Hancock following recent site visit by Chief
Executive Officer, Bill Brodie Good and Competent Person, Howard
Baker
Bill Brodie Good, Chief Executive Officer & Technical
Director of Alien Metals, commented: "The phase 4 RC drilling
programme at Hancock is now underway. This programme has two key
aims - to upgrade confidence in the existing Mineral Resource
Estimate (MRE) to convert a portion of the MRE to an indicated
status, and to define a maiden MRE over a portion of ridges F and
G.
"Following the recent site visit by our CP, Howard Baker, we
have further increased our confidence in this exciting project. We
have delivered a robust DSO grade resource in a relatively short
time frame, and we see significant scope to further grow the
resource that will help to underpin a future mining operation. The
permitting and baseline studies continue to progress well and the
team is very excited about the way the Hanock project is shaping
up".
Alien has commenced a 70 hole 2,100m RC drill programme which
will initially focus on ridges C and E before moving on to ridges F
and G. The infill drilling at ridges C and E aims to convert a
significant portion of the existing JORC compliant inferred
resource to an indicated status. Most holes are planned between
15-25m depth, focused on the DSO grade material. At ridges F and G,
wide spaced exploration drilling will be carried out along the 3km
strike length of high grade surface sampling results. The Company
hopes that this maiden drill programme will be sufficient to
declare a maiden JORC resource over these ridges.
The surface sampling undertaken at ridges F and G earlier this
year consisted of 67 samples, with 25 returning assays greater than
60% Fe (with an average of 63% Fe). This programme led to defining
a further 3km of highly prospective iron ridges.
In conjunction with the phase 4 drilling programme, the Company
will carry out more surface mapping and sampling on the remaining
6.5 kilometres of strike length to test on ridges G and H, as well
as moving in the central and eastern areas of the tenement to begin
first pass exploration.
Brockman
The Programme of Work (POW) for a maiden drilling programme on
the Brockman tenement has recently been approved. The Alien
technical team is finalising the drill planning ahead of the maiden
drilling programme at Brockman in Q3.
Further updates will be provided in due course as
appropriate.
Figure 1: Location of Hancock Iron Ore Project, Western
Australia
Figure 2: Location of planned Phase 4 in-fill drill holes,
Ridges C and E, Hancock Iron Ore Project, May 2022
Figure 3: Location and results of rock chip sampling programme,
Hancock Iron Ore Project, Western Australia, March 2022
Figure 4: Location of planned exploration drilling on new
targets of Ridges F and G, May 2022
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited
Bill Brodie Good, CEO & Technical Director
Tel: +44 (0) 203 811 2144
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 / James Lingfield
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
Notes to Editors:
Alien Metals Ltd is a mining exploration and development company
listed on the AIM market 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 with
a conditional agreement to increase its interest to 90% in May 2021
also being put in place.
In 2020 the Company agreed to acquire 100% of the Elizabeth Hill
Silver Project, which consists of the Elizabeth Hill Historic
Silver Mine Mining Lease and the 150km2 exploration tenement around
the mine. The Company also holds two silver projects, San Celso and
Los Campos, located in Zacatecas State, Mexico, 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 also holds a Copper Gold project
in the same region, Donovan 2.
In March 2022 the Company acquired 100% of the former joint
venture interest in the Munni Munni Platinum Group Metals and Gold
Project in the West Pilbara, Western Australia, one of Australia's
major underexplored PGE and base metals projects. Munni Munni holds
a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium.
Glossary:
Mineral Resource - A concentration or occurrence of solid or
liquid material of economic interest in or on the Earth's crust in
such form, grade (or quality), and quantity that there are
reasonable prospects for eventual economic extraction. The
location, quantity, grade (or quality), continuity and other
geological characteristics of a Mineral Resource are known,
estimated or interpreted from specific geological evidence and
knowledge, including sampling. Mineral Resources are sub-divided,
in order of increasing geological confidence, into Inferred,
Indicated and Measured categories.
Inferred Mineral Resource - that part of a Mineral Resource for
which quantity and grade (or quality) are estimated on the basis of
limited geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological grade (or quality)
continuity. It is based on exploration, sampling and testing
information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. An
inferred Mineral Resource has a lower level of confidence that that
applying to an Indicated Mineral Resources and must not be
converted to an Ore Reserve. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration.
Reverse Circulation Drilling - Often referred to as RC drilling,
is a method of drilling which uses dual wall drill rods that
consist of an outer drill rod with an inner tube. These hollow
inner tubes allow the drill cuttings to be transported back to the
surface in a continuous, steady flow. Drill results using this
method with adequate QA/QC can be used in Mineral Resource
Calculations
DSO - Direct Shipping Ore
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