TIDMUFO
RNS Number : 0561I
Alien Metals Limited
02 August 2023
Trading Symbols
AIM: UFO
FWB: I3A1
2 August 2023
Alien Metals Ltd
("Alien" or "the Company")
Potential for Direct Ship Iron Ore identified at the Hancock
Project
Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration
and development company, is pleased to announce that its
wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd
(IOCA) has completed initial investigations into the potential for
Direct Ship Ore (DSO) at tenement E47/5001 (the Mallina Tenement)
which adjoins the existing Hancock Project.
Highlights
-- Historic high grade rock chip sample of greater than 60% Fe
evidencing the significant potential for exploration upside on the
tenement
-- The eastern area of the tenement shares a comparable
geological setting as the Weeli Wolli (IOCA's Ridges C and E ore
body) iron ore formations
-- Areas of the tenement share a comparable geological setting
to the Boolgeeda (IOCA's Sirius Extension Deposit) iron ore
formation
-- The Hancock Ridge H that has provided rock chip samples of
greater than 60% Fe continues into the Mallina Tenement for several
kilometres
Troy Whittaker, Chief Executive Officer commented :
"The Mallina acquisition has not only provided security of
access from the Company's flagship Hancock Project site to the
Great Northern Highway, but it has also shown it may have the
potential to significantly increase the resource footprint of IOCA
within the region.
"IOCA now has a total strategic landholding of over 75.6km(2)
(7565 hectares) at the Hancock Project, situated within one of the
preeminent iron ore producing regions of the world and we look
forward to continuing to unlock the untapped potential of our
landholding for shareholders".
Further Information
Figure 1: Location of the Company's Iron Ore Projects, Western
Australia
The Company, through its wholly owned subsidiary IOCA, acquired
Mallina Exploration Pty Ltd (Mallina) in May 2023 (see RNS 5 May
2023). This tenement is currently under application with the
Department of Mines, Industry Regulation and Safety, Western
Australia. This purchase facilitated the fast-track acquisition of
the Mallina Tenement (E47/3752) that adjoins the Hancock Tenement
(E47/3954) and allows for future development of access to IOCA's
1.9Mt @ 60.2% Fe Mining Reserve (9.1Mt @ 60.3% Fe Mineral Resource)
over 100% IOCA controlled tenements from the Hancock Tenement to
the Great Northern Highway.
The Mallina Tenement shares comparable geological settings (see
figure 3) to that of the Hancock Tenement which includes the
prospective Boolgeeda (Sirius and Sirius Extension Deposits) and
Weeli Wolli (Ridges C and E) iron ore formations that ICOA's
current JORC compliant resources and reserves are contained
within.
There has been an absence of detailed exploration on the Mallina
Tenement for many years and IOCA sees this lack of historic
exploration on the tenement as a strong exploration opportunity in
their search for high grade DSO iron ore. There are currently 2
high priority target areas for DSO exploration, and these are
detailed below.
Geological Target No. 01
The Company's geologists have interpreted a significant area of
exploration interest in the southeastern part of the Mallina
Tenement. This is an area where previous rock chips have returned
Direct Ship Ore (DSO) grade material.
Significantly, the Company's current geological model interprets
this target area as having the same geological units (Boolgeeda
Formation) as that found at the Company's Sirius Extension JORC
Resource (6.7Mt @ 60.1% Fe) which is an extension of the 124Mt @
60.3% Fe Sirius Mineral Resource of Brockman Mining Limited.
The Boolgeeda formation hosts significant high grade DSO style
mineralisation. The Company has reviewed aerial imagery, digital
terrain models and air magnetic imagery to interpret a significant
area of the prospective Boolgeeda iron formation, at surface, on
plateaus (figure 2) forming several kilometre long outcrops at
within the Mallina Tenement.
Historical rock chip sampling supports this interpretation as
shown in figure 2 where samples taken include one high Fe content
sample in excess of 60% Fe.
Table 1 - Historical Rock Chip Results from Mallina Tenement
(Source: Brockman Resource Ltd, April 2012)
Sample_ID East North RL Fe %
117376 773029 7426199 667 58.17
------- -------- ---- ------
117380 774880 7425398 673 57.02
------- -------- ---- ------
117381 774874 7425392 674 56.26
------- -------- ---- ------
117382 774868 7425385 673 55.22
------- -------- ---- ------
117385 774859 7425369 672 55.19
------- -------- ---- ------
117386 775206 7425245 656 59.51
------- -------- ---- ------
OPH103 774568 7425558 661 60.69
------- -------- ---- ------
Figure 2: Prospective Boolgeeda Iron formation outcrops in the
Mallina Tenement
Geological Target No. 02
IOCA has multiple prospective ridges that extend from within the
existing Hancock Project tenure onto the Mallina Tenement. These
ridges are interpreted as being part of the Weeli Wolli Formation
that hosts the high-grade DSO mineralisation at Ridge C and Ridge E
(combined Mining Reserves of 1.9Mt @ 60.2% Fe).
Figure 3 below highlights the ridges extending onto the Mallina
Tenement, which includes the extension of Ridge H where IOCA has
previously recorded high grade DSO samples from as well as the
aforementioned Geological Targeted Weeli Wolli Formations.
Figure 3: Interpreted bedrock geology suggests outstanding
geological potential on the Mallina Tenement
Hancock Project JORC Reserves and Resources (see RNS 26 April
2023)
Table 2 - Hancock Project Ore Reserves
Material Tonnes Volume Fe % SiO Al 2 P % LOI Mn %
(Mwmt) (Mbcm) 2 % O 3 % %
Proved
-------- -------- ------ ----- ------- ----- ----- -----
Probable 1.9 0.7 60.16 5.69 3.54 0.12 3.85 0.02
-------- -------- ------ ----- ------- ----- ----- -----
Total 1.9 0.7 60.16 5.69 3.54 0.12 3.85 0.02
-------- -------- ------ ----- ------- ----- ----- -----
Table 3 - Hancock Mining Inventory
Material Tonnes Volume Fe % SiO Al 2 P % LOI Mn %
(Mwmt) (Mbcm) 2 % O 3 % %
Unclassified 4.2 1.6 60.51 4.11 3.53 0.15 4.74 0.04
-------- -------- ------ ----- ------- ----- ----- -----
Total 4.2 1.6 60.51 4.11 3.53 0.15 4.74 0.04
-------- -------- ------ ----- ------- ----- ----- -----
Table 4 - Mineral Resource
Classification Prospect Mass Average Value
Category (million
tonnes)
Fe % SiO Al 2 P % LOI Mn %
2 % O 3 % %
----- ----- ------- ----- ---- -----
Indicated Sirius Extension
------------------ ---------- ----- ----- ------- ----- ---- -----
Ridge C 0.7 60.9 4.9 3.27 0.12 3.7 0.03
----------------------------------- ---------- ----- ----- ------- ----- ---- -----
Ridge E 1.0 61.0 5.2 3.30 0.12 3.4 0.02
----------------------------------- ---------- ----- ----- ------- ----- ---- -----
Sub Total - Indicated 1.7 61.0 5.1 3.29 0.12 3.5 0.02
---------- ----- ----- ------- ----- ---- -----
Inferred Sirius Extension 6.7 60.1 4.1 3.71 0.17 5.2 0.05
------------------ ---------- ----- ----- ------- ----- ---- -----
Ridge C 0.4 60.8 4.6 3.07 0.14 4.4 0.03
----------------------------------- ---------- ----- ----- ------- ----- ---- -----
Ridge E 0.3 59.8 4.9 3.64 0.17 5.0 0.03
----------------------------------- ---------- ----- ----- ------- ----- ---- -----
Sub Total - Inferred 7.4 60.1 4.2 3.67 0.17 5.2 0.05
---------- ----- ----- ------- ----- ---- -----
Total 9.1 60.3 4.3 3.60 0.16 4.9 0.04
---------- ----- ----- ------- ----- ---- -----
Competent Persons Statements
The information in this report relating to Ore Reserves is based
on information compiled by Mr Jeremy Peters, a Director of Burnt
Shirt Pty Ltd, a Fellow of The Australian Institute of Mining and
Metallurgy (AUSIMM) and Chartered Professional Geologist and Mining
Engineer of that organisation who has sufficient experience which
is relevant to the style of mineralisation and type of deposit
under consideration and to the activity that he is undertaking, to
qualify as Competent Person as defined in the 2012 Edition of the
"Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves". Mr. Peters consents to the inclusion
in the document of the information in the form and context in which
it appears.
The information in this report that relates to the Hancock
Mineral Resources is based on information compiled by Mr Howard
Baker, a Competent Person who is a Fellow of the Australasian
Institute of Mining and Metallurgy and is employee by Baker
Geological Services Ltd. Mr Baker has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which they are undertaking to
qualify as a Competent Person as defined in the 2012 edition of the
Australasian Code for the Reporting of Exploration Results, Mineral
Resources, and Ore Reserves (JORC Code). Mr Baker consents to the
disclosure of information in this report in the form and context in
which it appears.
The information in this announcement that relates to Exploration
Results, is based on information compiled by Mr. Bradley Toms who
is the Exploration Manager and a full time employee of Alien Metals
Ltd. Mr. Toms is a Member of The Australian Institute of
Geoscientists and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity that he is undertaking, to qualify as Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr. Toms consents to the inclusion in the document of
the information in the form and context in which it appears. Mr
Toms has declared that he holds Performance Rights in the
Company.
For further information please visit the Company's website at
www.alienmetals.uk , or contact:
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666
BlytheRay (Financial PR)
Tim Blythe / Megan Ray / Said Izagaren Tel: +44 (0) 20 7138
3204
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 delivering a profitable, long life direct
shipping iron ore operation based out of the Pilbara in Western
Australia. In 2019, the Company acquired 51% of the Brockman and
Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects
and in December 2022 moved to 90% legal and beneficial ownership.
The Company also acquired 100% of the Vivash Gorge Iron Ore project
in the west Pilbara in July 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project,
which consists of the Elizabeth Hill Historic Mining Lease and the
115km(2) exploration tenement around the mine.
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.
In May 2023, the Company acquired 100% of Mallina Exploration
Pty Ltd and with it, the Western Hancock Tenement. The new tenement
adjoins the Company's existing Hancock tenement, giving the entire
Hancock project direct access to the Great Northern Highway.
The Company also holds silver, copper and base metal projects in
various locations around the world however is currently looking at
the best way to divest these for the benefit of shareholders.
Competent Person Statement
The information in this announcement that relates to
exploration, is based on information compiled by Mr. Bradley Toms
who is the Exploration Manager and a full time employee of Alien
Metals Ltd. Mr. Toms is a Member of The Australian Institute of
Geoscientists and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity that he is undertaking, to qualify as Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr. Toms consents to the inclusion in the document of
the information in the form and context in which it appears. Mr
Toms has declared that he holds Performance Rights in the
Company.
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.
DSO - Direct Shipping Ore
Fe - Iron
Al - Aluminium
Ca - Calcium
K - Potassium
Mg - Magnesium
Mn - Manganese
Na - Sodium
P - Phosphorus
S - Sulphur
Si2O3 - Silica
Mt - Million Tonnes
BIF - Banded Iron Formation
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