TIDMUFO
RNS Number : 0465N
Alien Metals Limited
20 September 2023
Trading Symbols
AIM: UFO
FWB: I3A1
20 September 2023
Alien Metals Ltd
("Alien" or "the Company")
Significant intersections of high grade Direct Ship Ore ("DSO")
confirmed at Hancock Project, including 78.2 metres at 60.4%
Iron
Alien Metals Ltd (AIM: UFO), a minerals exploration and
development company, is pleased to announce that all results from
the recent resource definition core drilling programme at its 90%
owned Hancock Iron Ore Project ("Hancock Project"), in the Pilbara
Region, Western Australia, have been received.
Highlights:
-- 13 diamond core holes were drilled during Q2 2023 for a total
of 1049 metres ("m") at the Company's Sirius Deposit, with the
initial batch of assays reporting high-grade mineralisation (AIM:
20 July 2023).
-- These final assay results confirm exceptional direct ship ore
grades, as well as excellent widths and depth continuity of the
proposed Sirius Mining Pit.
-- Significant results from the final tranche of assays include:
o 52.8m @ 60.9% iron ("Fe") from 1m including high-grade
intercepts of 40m @ 61.5% Fe from 13m from Drill Hole 23IHD013
o 61.2m @ 60.8% Fe from 1m including high-grade intercepts of
31.9m @ 61.6% Fe from 22.2m from Drill Hole 23IHD010
o 57m @ 60.6% Fe from 13m including high-grade intercepts of
40.5m @ 61.3% Fe from 27m from Drill Hole 23IHD008
o 78.2m @ 60.4% Fe from 43.7m including high-grade intercepts of
11.3m @ 61.0% Fe from 110.6m from Drill Hole 23IHD007
o 98.5m @ 59.4% Fe from 1.5m including high-grade intercepts of
47.3m @ 60.3% Fe from 14.1m and 9m @ 62.6% Fe from 91m from Drill
Hole 23IHD005
-- This final tranche compliments and reinforces grade from the
first tranche of assay results (AIM: 20 July 2023):
o 26.9m @ 60.03% Fe from 13.9m including a high-grade intercept
of 12m @ 61.2% Fe from 28.8m, and 16.1m @ 59.75% Fe from 46.9m
including a high-grade intercept of 9.9m @ 61.03% Fe from Drill
Hole 23IHD003
o 49.0m @ 59.29% Fe from 14.0m including high-grade intercepts
of 8m @ 60.70% Fe from 17m, 9.0m @ 61.51% Fe from 36.0m and 12.0m @
60.58% Fe from 51.0m from Drill Hole 23IHD006
Troy Whittaker, Chief Executive Officer commented :
"These significant results continue to showcase the abundant
potential we have at our Hancock Project. The results demonstrate
high-grade, direct ship ore at substantial intersections which
continue to underpin further confidence in the resource.
As an outcome of this resource definition drilling, we will in
the coming months update the Hancock Project Resources and
Reserves."
Further Information
Figure 1: Location of the Company's Iron Ore Projects, Western
Australia
The Company completed 13 diamond core holes in Q2 of 2023 for a
total of 1,049m drilled at the proposed Sirius Mining Pit.
Figure 2: Location of the Resource definition drilling at the
Sirius Deposit
Figure 3: Sirius Mining Pit plan view
The drilling was designed to support a planned update through
likely higher confidence levels to the existing Mineral Resource
Estimate and subsequent Mining Reserves (after the mining studies
are completed) at the Sirius Pit. These updated resources and
reserves will form part of the Company's updated Feasibility Study.
All holes were also logged for geotechnical parameters to enable a
Geotechnical Study to be completed to support the Definitive
Feasibility Study and mine design process.
The results from this drilling programme continue to increase
the Company's confidence in the Hancock Project as they demonstrate
excellent direct ship grades and wide mining widths available to
support proposed production rates. Importantly, this round of core
drilling confirms that the mineralisation continues at depth and is
likely to extend beyond the existing Mineral and Mining Inventory
pit design, as seen in the cross-section below.
Figure 4: Drilling cross-section of drill holes 23IHD006 and
23IHD007 overlaid with existing Mineral Resource Estimate
Table 1 - Summary of significant high-grade iron ore drillhole
interceptions, Sirius Deposit (*max 4m internal dilution, cut off
>=56% Fe)
Hole ID From To (m) Width Grade
(m) (m) Fe%
23IHD001 5.2 18 12.8 56.2
------ ------- ------ ------
23IHD002 1.5 14 12.5 56.9
------ ------- ------ ------
23IHD002 52.3 93.8 41.5 50.0
------ ------- ------ ------
including 52.3 64.1 11.8 61.1
------ ------- ------ ------
23IHD004 14.4 44.3 29.9 58.5
------ ------- ------ ------
including 29.5 44.3 14.8 60.4
------ ------- ------ ------
23IHD005 1.5 100 98.5 59.4
------ ------- ------ ------
including 14.1 61.4 47.3 60.3
------ ------- ------ ------
including 91 100 9 62.6
------ ------- ------ ------
23IHD007 17 31.7 14.7 57.0
------ ------- ------ ------
including 26 31.7 5.7 60.9
------ ------- ------ ------
23IHD007 43.7 121.9 78.2 60.4
------ ------- ------ ------
including 43.7 92.3 48.6 60.9
------ ------- ------ ------
including 110.6 121.9 11.3 61.0
------ ------- ------ ------
23IHD008 13 70 57 60.6
------ ------- ------ ------
including 15.6 21 5.4 61.0
------ ------- ------ ------
including 27 67.5 40.5 61.3
------ ------- ------ ------
23IHD009 1 51 50 58.3
------ ------- ------ ------
including 43.4 51 7.6 60.1
------ ------- ------ ------
23IHD010 1 62.2 61.2 60.8
------ ------- ------ ------
including 6 18 12 61.2
------ ------- ------ ------
including 22.2 54.1 31.9 61.6
------ ------- ------ ------
23IHD011 0 55 55 60.5
------ ------- ------ ------
including 1.7 30.6 28.9 60.8
------ ------- ------ ------
23IHD012 0 40 40 59.9
------ ------- ------ ------
including 1.5 26.7 25.2 61.0
------ ------- ------ ------
including 31.6 40 8.4 61.3
------ ------- ------ ------
23IHD013 1 53.8 52.8 60.9
------ ------- ------ ------
including 13 53 40 61.5
------ ------- ------ ------
* Drilling depths are from surface
Table 2 - Hole ID's (Only holes with assays results received are
reported)
Hole ID Easting Northing RL AHD Depth Collar Collar
MGA94z50 MGA94 z50 (m) dip azimuth
(magnetic)
23IHD001 779369 7429840 569 63.8 -50.2 193.0
---------- ----------- ------- ------- ------- ------------
23IHD002 779398 7429786 576 93.8 -48.0 11.4
---------- ----------- ------- ------- ------- ------------
23IHD004 779494 7429812 604 59.1 -47.4 190.4
---------- ----------- ------- ------- ------- ------------
23IHD005 779507 7429855 600 118.92 -53.3 189.3
---------- ----------- ------- ------- ------- ------------
23IHD007 779584 7429855 599 142.7 -48.3 190.4
---------- ----------- ------- ------- ------- ------------
23IHD008 779525 7429800 604 110 -59.1 33.1
---------- ----------- ------- ------- ------- ------------
23IHD009 779663 7429776 579 61.6 -50.6 192.4
---------- ----------- ------- ------- ------- ------------
23IHD010 779707 7429738 576 70 -40.0 32.7
---------- ----------- ------- ------- ------- ------------
23IHD011 779737 7429757 574 55 -50.4 189.8
---------- ----------- ------- ------- ------- ------------
23IHD012 779731 7429756 574 40 -50.2 12.1
---------- ----------- ------- ------- ------- ------------
23IHD013 779661 7429776 579 61.2 -60.4 12.2
---------- ----------- ------- ------- ------- ------------
Sample analysis and QA/QC
All samples generated from the drilling were dispatched to ALS
Perth.
Samples were analysed for their Iron Ore Package Analysis with
XRF finish, which includes Fe, Aluminum ("Al"), Calcium ("Ca"),
Potassium ("K"), Magnesium ("Mg"), Manganese ("Mn"), Sodium ("Na"),
Phosphorus ("P"), Sulfur ("S") and Silicon ("Si"). This is the same
as the analysis and laboratory used in all of Alien's analysis work
on these projects to maintain consistency and comparability between
all analyses.
For QA/QC purposes, Alien used the industry standard of
inserting 5% Certified Reference Material ("CRM") samples, 5%
Blanks plus duplicate samples at source. The CRMs were sourced from
Geostats Pty Ltd, Perth, WA, a global leader in the manufacture and
sale of CRMs.
The results of the standard, duplicates and blanks are all
within acceptable variance of expected analytical results.
Hancock Project JORC Reserves and Resources (AIM: 26 April
2023)
Table 3 - 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 4 - 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 5 - 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 Person Statements
The information in this announcement 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 a 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 announcement 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 an 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 a
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
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 and sits within the Companies Pinderi Hills
prospective Nickel, Copper and PGM tenements.
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.
Glossary
Indicated Mineral Resource - That part of a Mineral Resource for
which quantity, grade (or quality), densities, shape and physical
characteristics are estimated with sufficient confidence to allow
the application of Modifying Factors in sufficient detail to
support mine planning and evaluation of the economic viability of
the deposit. Geological evidence is derived from adequately
detailed and reliable exploration, sampling and testing gathered
through appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes, and is sufficient to
assume geological and grade (or quality) continuity between points
of observation where data and samples are gathered.
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 than that
applying to an Indicated Mineral Resource 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.
Mining Proposal - A document submitted to the local state
authority for approval by the Department of Mines, Industry
Regulation and Safety (DMIRS), that is required before any mining
operations can commence.
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.
Mining Schedule -the sequencing of operations and the assignment
of equipment and people, to ensure that the intended sequencing and
production targets are realized
Mineral resource classification - is the classification of
mineral resources based on an increasing level of geological
knowledge and confidence.
Minig Inventory - A generated mining inventory for scheduling,
by pit. This mining inventory is inclusive of the Ore Reserve and
is not to be conflated with an Ore Reserve. A mining inventory has
no definition under the JORC Code and its absolute economic
viability has not been demonstrated. The mining inventory comprises
that proportion of the Inferred Mineral Resource that reports to a
pit optimisation but is excluded from inclusion in an Ore Reserve
by its classification. Its financial viability has not been
demonstrated and it is premised on both Indicated and Inferred
Resources and unclassified mineralisation.
Ore Reserves - the parts of a Mineral Resource that can, at
present, be economically mined
RL AHD - Reduced Levels Australian Height Datum
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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