TIDMUFO
RNS Number : 1732Z
Alien Metals Limited
16 September 2020
Trading Symbols
AIM: UFO
FWB: I3A1
16 September 2020
Alien Metals Ltd
("Alien" or "the Company")
http://www.rns-pdf.londonstockexchange.com/rns/1732Z_1-2020-9-16.pdf
Field work confirms high grade Silver at San Celso and Los
Campos Silver projects, Mexico and
Strike length of Silver mineralisation extended through
acquisition
Alien Metals Limited ("Alien Metals" or "Company"), the
exploration and development company, is pleased to announce results
of the recent sampling programmes on the San Celso and Los Campos
silver projects in Mexico. The results show strong correlation with
historic results, increasing confidence in future drilling
programmes to be undertaken at San Celso and Los Campos. The
Company has also signed final legal documentation to allow it to
carry out exploration work with an option to acquire the Nueva
Andromeda permit located contiguous to the east of the San Celso
project area. Both of these events tie into the long-term
development plans for these projects.
Highlights:
- Sampling programme results show excellent correlation with historic sampling
- Continued high-grade results across both projects
- Added detail for maiden drill campaign planning
- Option agreement signed for acquisition of highly prospective
Nueva Andromeda permit adjacent to the San Celso project, expanding
project footprint and mineralisation potential (increasing strike
length to nearly 3000 metres ('m'))
o Permit hosts a continuation of the Andromeda vein, which runs
into the San Celso project
o Andromeda vein has been mapped with historical workings for
over 500m
Bill Brodie Good, Chief Executive Officer, commented:
"We are pleased to have completed further underground and
surface sampling at San Celso and Los Campos. In total, 12 samples
were collected across the projects as well as some surface
reconnaissance on neighbouring ground on strike south of the San
Celso project area with signs of further historic mining. The
results further validate the high-grade underground grades; the
continuity away from the historic workings encourages us to push
ahead with the next stage drilling work. Recent heavy rains and
underground conditions limited the extent of the sampling
programmes, however we are looking forward to getting back on the
ground in the near-term.
"With the acquisition of the Nueva Andromeda permit, we will
enhance the potential of the San Celso project. We believe the
combined project area hosts the potential to be a sizeable,
high-grade silver project, and we are looking forward to being able
to do further mapping and sampling over the Andromeda vein prior to
the next stage of drilling."
Figure 1: Location of San Celso and Los Campos projects,
Zacatecas Silver Belt, Mexico
San Celso (Silver)
Background
Located within the Zacatecas Silver belt of Mexico, the San
Celso project is a highly prospective silver target in a favourable
mineralised district. Previous exploration programmes at San Celso
have highlighted the high-grade silver potential of the
project.
Having located recently the details of the 2006 underground
sampling undertaken on the San Celso and Las Christinitas historic
mines, the Company was given significant encouragement for the
project as they highlight the continuous high-grade nature of the
historic workings and show that the mineralisation continues on
strike and down dip within the historic mined areas. In 2006, the
Company (as Arian Silver) collected a total of 438 samples from the
San Celso and Las Cristinitas underground workings and surface
dumps, and the three levels were accessible in the San Celso mine
by approximately 130m of ladder. Of these, 265 chip-channel samples
were from the Las Cristinitas workings. Assay results included a
4.65m interval at >1000 grams per tonne ('g/t') silver ('Ag')
including 1.05m at 2,683 g/t Ag, 78.2 ounce per tonne ('Oz/t') Ag
with an average of 460 g/t Ag from 60 samples > 200 g/t Ag from
the La Christinitas vein and an average of 497 g/t Ag from 77
samples > 200 G/t Ag from the San Celso vein.
Update
The recent follow up underground sampling programme was designed
to confirm previous sampling as well as infill certain gaps to get
a complete picture and understanding of the main mineralisation.
Four samples were taken underground from the San Celso historic
mine area, at the 2,132m level.
The new assay results support the historic sampling with sample
suite SC066 returning composite 0.9m at 477 g/t Ag (including
sample SC066B that returned 950 g/t Ag from a 30 cm channel sample)
compared to the 2006 sample result of 0.5m at 422 g/t Ag, while
sample suite SC062 returned composite 1.4m at 225 g/t Ag compared
to the 2006 sample results of 1.6m at 335 g/t Ag. The samples were
taken as close to the originals as possible and confirm to Alien
the high grade and economic widths of the Las Christinitas
vein.
Surface reconnaissance was undertaken to the south east of the
San Celso project boundary, which revealed more historic workings
and continued high grade silver potential along strike. Alien is in
the process of applying for the surrounding vacant areas.
Figure 2: Location and grade of samples (red, AgEq) with 2006
sampling results, San Celso Mine, San Celso Project, September
2020
Figure 3: Detailed location and silver results of underground
samples, 2132 Level, San Celso Mine, September 2020
Los Campos (Silver)
Background
Located within the Zacatecas Silver belt of Mexico, previous
exploration activity at Los Campos highlighted the high-grade
silver potential of the project, which features a historic mine
within the project area which records show was mined between 1883
until all work stopped in 1904. The mine achieved an average mine
head grade of over 1,000 g/t Ag (32.2 oz/t Ag) in the early 1890s.
The project is also situated adjacent to Endeavour Mining's
(TSX:EDV) El Compas operating silver-gold mine.
Update
As at the San Celso project, Alien was keen to access and sample
part of the historic underground mine to add knowledge and
understanding of the mineralised systems to better plan and target
a future drilling campaign.
The Company's exploration team attempted to access the
underground workings at Los Campos, however they were unable to
safely access historic adits due to recent torrential rain and
unstable entry points. Alien intends to revisit the Los Campos
project in the coming months to refurbish entry areas.
Further surface sampling and review work was carried out in the
central southern area of the project, along the surface from
historical workings. This returned some further excellent results
associated with the main north-west/south-east trending workings,
with a maximum result of 361 g/t Ag. These results support previous
sampling and add further encouragement for the next stage of
exploration and upcoming maiden drilling programme. Samples from
smaller vein systems striking oblique to the main system returned
background results helping to focus next stage onto the core known
defined mineralised veins already identified.
Table 1 below summarises all results from the recent sampling
programme for both project areas. Due to the number of samples
submitted and the reconnaissance focused nature of the programme,
Alien did not insert any standard or blank samples into the sample
batch. The in-house sample QA/QC completed by ALS was deemed
acceptable for the purposes of this work. All samples were analysed
by Aqua Regia Digest with ICP finish for Au for 35 elements at ALS
Zacatecas, Mexico.
Alien is now focussed on finalising necessary permitting to
carry out maiden drill programmes on both projects as soon as
possible.
Figure 4: Location of work, Los Campos, August 2020
Figure 5: Location of surface samples and silver results, Los
Campos, August 2020
Table 1: Sample details, San Celso and Los Campos, August
2020
ALS Mexico Analysis
Project SAMPLE_ID Location Au_ppm Ag_ppm Cu_ppm Ni_ppm Pb_ppm Zn_ppm
------- ------- ------- ------- ------- -------
San Celso SC062A Underground 0.0 50.6 97.0 3.0 920.0 5810.0
-------------- ------------- ------- ------- ------- ------- ------- -------
San Celso SC062B Underground 0.0 401.0 83.0 1.0 4640.0 4680.0
-------------- ------------- ------- ------- ------- ------- ------- -------
San Celso SC066A Underground <0.005 4.5 189.0 8.0 274.0 4440.0
-------------- ------------- ------- ------- ------- ------- ------- -------
San Celso SC066B Underground 0.0 950.0 135.0 <1 5550.0 >10000
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine
Los Campos TC820-001 dumps 0.0 361.0 120.0 23.0 304.0 503.0
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine
Los Campos TC820-002 dumps 0.1 47.1 65.0 20.0 578.0 727.0
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine
Los Campos TC820-003 dumps 0.3 254.0 69.0 18.0 1160.0 952.0
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine
Los Campos T20820-001 dumps 0.0 0.6 15.0 38.0 9.0 55.0
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine
Los Campos TNW-0820-001 dumps 0.0 17.8 15.0 3.0 372.0 744.0
-------------- ------------- ------- ------- ------- ------- ------- -------
Los Campos TC0720 288 Quarry/Pit <0.005 0.2 <1 1.0 2.0 5.0
-------------- ------------- ------- ------- ------- ------- ------- -------
Los Campos TC0720 289 Quarry/Pit <0.005 0.2 <1 1.0 2.0 5.0
-------------- ------------- ------- ------- ------- ------- ------- -------
Los Campos TC0720 290 Quarry/Pit <0.005 0.2 <1 <1 <2 2.0
-------------- ------------- ------- ------- ------- ------- ------- -------
UG Mine dumps at surface
Alien has signed an option agreement with the holders of the
Nueva Andromeda permit, which is contiguous to the San Celso
project. This agreement will give Alien exclusive exploration and
mining rights within the tenement for a period of three years for a
minimal annual fee (3,000 USD) with an option to buy the rights to
the property at the end of the three-year period.
Figure 6: Location of Nueva Andromeda permit with historically
mapped vein and mining areas, San Celso Project, August 2020
The Nueva Andromeda tenement is a significant addition to the
San Celso project as it contains the main strike length of the
mineralised Andromeda vein, which has already been identified in
the current project area. From previous field work Alien has
already noted further historic mining along this vein. The
acquisition of Nueva Andromeda will increase the high grade silver
mineralised strike length from 2,500m to at least 3,000m, therefore
Alien believes that this addition will greatly enhance the economic
prospectivity of the project.
Further adjacent vacant ground around the San Celso project is
also being applied for directly by Alien through the normal
processes at the Ministry of Mines in Mexico and updates will be
provided as news becomes available.
Alien is also continuing discussions with a range of parties
regarding potential joint venture opportunities; however, no
binding agreements have been reached to date.
For further information please visit the Company's website at
www.alienmetals.uk , or contact:
Alien Metals Limited First Equity Limited (J oint
Bill Brodie Good, CEO & Technical Broker)
Director Jason Robertson
St-James' Corporate Services, Tel +44 (0)20 7374 2212
Company Secretary
Tel: +44 20 7796 8644
Beaumont Cornish Limited (Nomad) Novum Securities Limited (Joint
James Biddle/ Roland Cornish Broker)
www.beaumontcornish.com Jon Belliss
Tel: +44 (0) 207 628 3396 Tel +44 (0)20 7399 9425
Blytheweigh (Financial PR) Turner Pope Investments (TPI)
Megan Ray/Rachael Brooks Limited (Joint Broker)
Tel: +44 (0) 207 138 3204 Andy Thacker/ Zoe Alexander
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.
Alien Metals has embarked upon an acquisition-led strategy
headed by a high-quality geological team to build a strong
portfolio of diversified assets including two recent acquisitions
in 2019. These include the Brockman and Hancock Ranges high-grade
(Direct Shipping Ore) iron ore projects and the Elizabeth Hill
Silver projects both located in the Pilbara region, Western
Australia.
In addition to progressing and developing its portfolio of
assets and following its strategic review of its portfolio of
silver and precious metals projects in Mexico, Alien Metals has
identified priority exploration targets within its 12 mining
concessions which it is working to advance systematically. The
Company's silver projects 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.
Qualified Person
The information in this report that relates to exploration
targets, exploration results, and other information of a technical
nature has been reviewed by Dr Lex Lambeck Ph.D, a technical
consultant to the Company. Dr Lambeck is a Member of the American
Institute of Professional Geologists and a Certified Professional
Geologist, CPG-11734, with over 15 years of relevant experience in
exploration and assessment of resource projects.
Forward-Looking Information
This press release contains certain "forward-looking
information". All statements, other than statements of historical
fact that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future are deemed forward-looking information.
This forward-looking information reflects the current
expectations or beliefs of the Company based on information
currently available to the Company as well as certain assumptions,
including the availability of sufficient funds. Forward-looking
information is subject to a number of significant risks and
uncertainties and other factors that may cause the actual results
of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are
realised or substantially realised, there can be no assurance that
they will have the expected consequences to, or effects on the
Company.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
Glossary:
ppm - Parts per million = grams per ton
g/t - Gram per ton
Ag - Silver
AgEq - Silver equivilant which means the silver grade plus the
silver equivalent of gold grade, with gold grade converted to
silver grade based a conversion ratio of gold to silver at the time
of such conversion.
Au - Gold
Cu - Copper
Ni - Nickel
Pb - Lead
Zn - Zinc
UG Mine dumps - Material extracted from the historic underground
workings left at surface as uneconomic by previous miners.
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