TIDMUFO
RNS Number : 6498Z
Alien Metals Limited
22 September 2020
Trading Symbols
AIM: UFO
FWB: I3A1
22 September 2020
Alien Metals Ltd
("Alien Metals" or "the Company")
Link to full announcement including figures:
http://www.rns-pdf.londonstockexchange.com/rns/6498Z_1-2020-9-21.pdf
Next stage exploration underway at Hamersley Iron Ore
Projects
Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the
Company"), a minerals exploration and development company, is
pleased to advise that further to the RNS dated 25 August 2020,
follow-up detailed geological mapping and sampling is underway at
the Company's Hamersley Iron Ore Projects.
Highlights :
- Programme to validate recently announced Maiden Exploration
Targets across both projects and will consist of:
o 4-5km of grid-based sampling across priority prospects;
and
o Detailed mapping over exposed iron ore formations
o Drill access planning in the field
- Assay results from sampling expected late October
- Preparation of maiden drilling campaign to follow
Chief Executive Officer, Bill Brodie Good said : "The Company is
extremely pleased with the results and findings of the recent
detailed data compilation, which helped generate maiden Exploration
Targets for both projects. The field work undertaken last year
replicated the high-grade DSO results previously recorded at the
projects and so our next objectives are to carry-out further
exploration work, including an upcoming maiden drilling programme,
to potentially convert the Exploration Targets into JORC compliant
resources.
"We are very fortunate that we could quickly mobilise an
experienced geological team into the field to carry out the planned
exploration work. This will allow us to continue to develop these
projects up the knowledge and value curve.
"The Company is excited about the potential to add significant
value to the projects and developing next stage exploration from
the outcome and looks forward to updating the market of progress in
due course."
Figure 1: Location of the Brockman and Hancock Ranges Iron Ore
projects within the prolific iron ore producing region of the
Pilbara
Background
The two projects are within the Hamersley Province of Western
Australia, known as one of the premier iron ore producing regions
of the world. The Brockman Project (E47/3953) is located in the
west Hamersley Province, 100 kilometres ("km") northwest of the Rio
Tinto iron ore mining town of Tom Price, and 90km west of the Tom
Price to Dampier mine railway. The Hancock Ranges Project
(E47/3954) is located in the east Hamersley Province, 15km north of
the BHP iron ore mining town of Newman, and 20km west of the Newman
to Port Hedland mine railway.
As announced 25 August 2020, five priority prospects were
identified with next stage exploration plans proposed. For the
Brockman Project, three targets focus on the historic high-grade
BHP prospects numbers 15, 19 and 20. Two key targets in the Hancock
Ranges Project are the Sirius Extension prospect, that has
previously been drilled by Volta Mining (refer RNS dated September
20, 2019 for further information), and the Kalgan Prospect in the
north-west of the tenement, that the Company believes has excellent
potential.
Update
The follow-up exploration programme is planned to take a couple
of weeks and will focus on detailed grid-based surface mapping and
sampling to better define the 5 priority areas being targeted for
upcoming drill planning. Access for drilling will also be marked
out while in the field to support the maiden drilling programme.
The geological team will be self-sufficient camping within the
tenements to enable maximum field time for the programme
duration.
Figure 2: Field equipment set-up, Hamersley Exploration team
All samples generated will be despatched to Intertek Genalysis
at Maddington, WA, and analysed for their Basic Iron Ore Package
Analysis with XRF finish, which includes elements Fe, Al, Ca, K,
Mg, Mn, Na, P, S and Si. This is the same as the analysis used in
the 2019 due diligence site visit and it will maintain consistency
and comparability between these analyses.
Figure 3: Location of BHP historic deposits in relation to E47/3953 Brockman Project
Figure 4: Interpreted Geology of E47/3954 Hancock Ranges Project
with main prospects
The Board of Alien continues to assess a range of mineral
projects and opportunities, with particular focus on exploration
projects with near term news flow and value creation.
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 9 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.
Glossary:
XRF - X-ray fluorescence, used for elemental analysis and
chemical analysis, particularly in the investigation of metals in
the resource industry
Fe - Iron
Al - Aluminium
Ca - Calcium
K - Potassium
Mg - Magnesium
Na - Sodium
P - Phosphorous
S - Sulphur
Si - Silica
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