TIDMUFO
RNS Number : 0686V
Alien Metals Limited
12 April 2021
Trading Symbols
AIM: UFO
FWB: I3A1
12 April 2021
Alien Metals Ltd
("Alien Metals", "Alien" or "the Company")
20 Priority Exploration targets defined at Elizabeth Hill Silver
Project
Follow the link to view the announcement in full including all
figures:
http://www.rns-pdf.londonstockexchange.com/rns/0686V_1-2021-4-11.pdf
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and
development company, is pleased to report the results of the
recently completed litho-structural interpretation and target
generation study completed over the Elizabeth Hill Silver Project
based on recent and historic combined airborne geophysical survey
data. The project area includes the Mining Lease containing the
historic Elizabeth Hill Silver Mine and the Munni Munni North
Exploration Lease that surrounds it. The work was carried out by
Southern Geoscience Consultants of Perth, WA, a leading geophysical
consulting company with extensive experience in this type of
commission.
Highlights
-- Of 20 priority targets identified seven highest priority
targets delineated for PGE and Ag/Ni/Cu mineralisation
-- A further seven level 2 priority targets and six level 3 priority targets also delineated
-- New targets previously not defined amongst these
-- Exploration recommendation methods to focus development
Bill Brodie Good, CEO & Technical Director of Alien Metals,
commented:
"A fantastic 20 priority targets were delineated by Southern
Geoscience from the results of the merging of the combined magnetic
data for the project area. We are very pleased with the results of
this study and are already planning follow up ground exploration
work on the higher priority targets with the goal of making the
next discovery, while at the same time planning update work on the
silver mine and the tailings as well. As expected, some
historically defined prospects were identified but we also are
really pleased to have some new targets which related to more
recent new discoveries in the region that can be now applied to
this project area.
"The Company is now working with various consultants who possess
extensive knowledge of the area, as well as the historical work
carried out, to support the Company's planning and execution of the
next phase of exploration programs on several of the priority
targets.
"Alien is excited to be pushing on with its exploration plans
and field work and looks forward to updating the market in the
coming months."
Figure 1: Location of Elizabeth Hill Project, Pilbara, WA
Alien engaged Southern Geoscience Consultants (SGC) of Perth,
WA, to provide and manage the acquisition, processing, and
interpretation of airborne magnetic, radiometric, and digital
elevation data over the Elizabeth Hill Project. From a detailed
review of existing available data, it was decided to only fly the
eastern section of the project area, as the western area was
recently flown at the same line spacing and line direction with
that data available to purchase for substantially less than the
cost of re-flying. SGC integrated both data sets into a larger set
that covers the entire target area. It should be noted that a
slightly larger area than the ground held by Alien defined the area
covered by this study to ensure the significant regional geological
and structural units were included to aid in the final
interpretation work.
The tenements cover the northern part of the Munni Munni
Complex, one of Australia's largest and most prospective layered
Archaean mafic to ultramafic Intrusion. The project covers about
60% of the ultramafic rocks, including the Cadgerina Dyke to the
west, which is interpreted to be a possible feeder zone of the
Munni Munni intrusion.
The Munni Munni Complex (MMC) shows many similarities with other
layered mafic-ultramafic intrusions found elsewhere, including the
Bushveld Complex in South Africa, the Stillwater Complex in
Montana, USA and particularly, the Great Dyke of Zimbabwe, which
all host world class deposits of Platinum Group Elements (PGE)
mineralisation.
The MMC hosts one of the most significant PGE deposits located
to date in Australia and also the extremely high-grade Elizabeth
Hill silver deposit.
At Munni Munni, the most promising PGE horizon discovered to
date, the Ferguson Reef, lies just below the contact between the
ultramafic and mafic, mainly gabbroic, rock types. This porphyritic
reef outcrops over a strike length of approximately 8 km of which
about 2.5 km lies within the Company's ground while a further 1 km
length of reef is outcropping near the Cadgerina Dyke also within
the Company's ground holding. A limited amount of historical
exploration has been done on some of these outcrops and targets to
date and updating and infilling such work will be part of the work
program being developed now by Alien.
Another PGE-enriched horizon, Judy's Reef or the J-reef, is
located along the northern and north eastern margins of the
intrusion approximately 30m above the base of the Complex just east
south east of the Elizabeth Hill Mine itself trending towards the
Natalie Hill prospect. This is within the Elizabeth Hill Mining
Lease and this important target will be the focus of some initial
infill and updated exploration work in the coming phase of work as
well.
The major structural feature within the project area is the NNE
trending Munni Munni Fault which offsets the Ferguson Reef in the
south and the northern margin of the Complex by about 600 metres.
The Elizabeth Hill silver deposit was formed at the intersection of
the fault at the base of the MMC in a local dilation zone caused by
shearing along the ultramafic/granite contact.
In summary SGC defined the area as highly prospective for PGE,
Ag, Ni and Cu and potentially Li mineralisation in addition to the
known Elizabeth Hill Silver and Munni Munni PGE (formerly Hunters
zone) deposits.
About the geophysical survey review
The whole project area is covered by two 50 m line-spaced
surveys: one newly commissioned and one existing multi-client
survey, with good quality aeromagnetic and radiometric data,
acquired at 35-50m ground clearance.
The interpretation was based primarily on a new merge by SGC of
these airborne datasets and available geological information from
historical exploration. The interpretation was primarily focussed
on defining lithological contacts, prominent faults and
identification of structurally complex areas within and around
Munni Munni and Maitland intrusive complexes. Detailed
interpretation of ultramafic/gabbroic zone contacts as well as
magnetically anomalous mafic/ultramafic layers within the Munni
Munni intrusive complex was also carried out.
Zones of intense deformation and breaks along the borders and
within intrusive complexes were identified and used in the
targeting process. The geological setting and geophysical
signatures of the Elizabeth Hill silver deposit were assessed and
used for the targeting as well. The highest priority was given to
targets with structural context similar to the known Ag and PGE
mineralisation within the target area. These include target areas
associated with the Munni Munni fault around the northern margin of
the MMC in the vicinity of the Elizabeth Hill Mine as well as focus
areas along the PGE Hunters/Ferguson zone/reef which hosts the
Munni Munni PGE deposit.
A total of 20 targets have been identified by SGC in the
Elizabeth Hill project area. Seven are considered high priority for
PGE and Ag/Ni/Cu mineralisation, with a further 7 as lower priority
targets and a further 6 as lower priority but still priority
targets all warranting follow up exploration. It should be noted
that these are the priority targets and that there are more areas
of interest still to be tested but currently lower in the
ranking.
Figure 2: Elizabeth Hill Project Airborne survey area, the
magenta polygon is covered by existing multi-client survey and the
blue area newly surveyed by Alien, February 2021
Figure 3: Geophysical and structural targets generated by SGC,
Elizabeth Hill Silver Project, April 2021
Table 1 summarises all targets identified by SGC with their
relative priority and commodity target demonstrating the diverse
and numerous targets that are present on the project.
The targets generated include some existing prospects from
historic exploration such as Hunters Reef East and West, Natalie
Hill and Conquest. Significantly there are also several new targets
such as targets 4, 5 and 13 (no names yet applied to them), the
Cadgerina Dyke, which presents a very interesting target in its own
right should it be the original feeder for the MMC.
The interpretation has delineated extensive lithological
contacts, prominent faults and structurally complex areas. In
particular, detailed mapping of ultramafic/gabbroic zone contacts
within the MMC as well as magnetically anomalous mafic/ultramafic
layers within it will be required to advance the potential of some
of these targets.
The project area comprises a diverse and multi commodity array
of targets associated with a significant geological feature that
has already produced 2 significant orebodies. Alien is excited by
the full potential of the area for other styles of mineralization
(base metals, gold, lithium etc.)
Table 1: Summary of Exploration Targets, Elizabeth Hill Project,
SGC, April 2021
Target Priority Description Commodity
Nbr
Area around faults terminated
at Munni Munni fault line, also
NW ending of the Judy's Reef,
some 400m south of Elizabeth PGE, Ni,
1 1 Hill mine. Cu, Co, Ag
--------- ----------------------------------------------- ------------
Southern continuation of Elizabeth
Hill ultramafics/granite contact
along Munni Munni fault. Possible
repetition of mineralogy/geological
2 1 setting Ag, Ni, Cu
--------- ----------------------------------------------- ------------
Area around ultramafics/granite
contact, intersected by a prominent
fault. SE ending of the Judy's PGE, Ni,
3 1 Reef. Cu, Ag
--------- ----------------------------------------------- ------------
Hunters PGE Reef East: part of
the reef, offset by about 450m
to the north along Munni Munni
4 1 fault. PGE
--------- ----------------------------------------------- ------------
Hunters PGE Reef East: structurally
complex area round prominent
5 1 north trending fault PGE
--------- ----------------------------------------------- ------------
Hunters PGE Reef East: significant
6 1 bend of the reef to the south PGE
--------- ----------------------------------------------- ------------
Hunters PGE Reef Central: significant
bend of the ultramafics/mafic
7 1 contact PGE
--------- ----------------------------------------------- ------------
Hunters PGE Reef West: reef bending
at the contact with N-S oriented
ultramafic block (intrusion feeder
8 2 zone?) PGE
--------- ----------------------------------------------- ------------
Northern termination of the ultramafic
block in contact with granitoid
complex, associated with Cadgerina Ni, Cu, Co,
9 2 dyke system Ag
--------- ----------------------------------------------- ------------
Structurally complex area within
intrusion, significant displacement
of intrusion layers by the prominent
10 2 NNE trending fault. Base metals
--------- ----------------------------------------------- ------------
11 2 Significant bending of the ultramafics/granite Base metals
contact associated with NNE trending
deformation zone.
--------- ----------------------------------------------- ------------
Ultramafics/granite contact along Ni, Cu, Co,
12 2 the inferred strike-slip fault Ag
--------- ----------------------------------------------- ------------
Structurally complex area. Munni
Munni fault intersected by prominent Ni, Cu, Co,
13 2 SEE trending fault. Ag
--------- ----------------------------------------------- ------------
Area of significant bending of
the Munni Munni fault. Possible Ni, Cu, Co,
14 2 dilation zone. Ag
--------- ----------------------------------------------- ------------
Structurally complex area around
the contact of intersected by
15 3 prominent SEE trending fault. Cu, Zn ?
--------- ----------------------------------------------- ------------
Structurally interesting area
around Munni Munnifault line
16 3 within mafic complex Cu, Zn ?
--------- ----------------------------------------------- ------------
Intersection of the NE trending
dyke system with N trending dyke
17 3 swarm Li ?
--------- ----------------------------------------------- ------------
Area around South Whundo intrusion.
Ultramafics/mafics contact maybe
of interest for possible PGE PGE, Ni,
18 3 mineralization Cu
--------- ----------------------------------------------- ------------
Area of significant NNE trending
deformation within the Munni
19 3 Munni intrusion. Base metals
--------- ----------------------------------------------- ------------
Structurally complex area within
the block of ultramafic units
(possible intrusion feeder zone Ni, Cu, Co,
20 3 ?) Ag
--------- ----------------------------------------------- ------------
Figure 4: Southern area targets detail, Elizabeth Hill Silver
Project, SGC, April 2021
The faulted (and presumably sheared) contacts between ultramafic
and granitoid rocks along the northern margin of the MMC were
identified as the most prospective zone, as well as structurally
interesting areas along the Hunters/Ferguson reef which is known
already to host PGE mineralisation. Several targets are also
proposed along the western border of the Maitland intrusive complex
and along the Cadgerina dyke, which has been interpreted in the
past and from this work to be the potential source of the MMC which
could be a significant target for mineralisation.
The Company are very pleased with the results of this work and
are pushing ahead with planning and beginning field work following
up on some of the highest priority targets in the coming weeks as
well as pushing ahead with work on the silver deposit at Elizabeth
Hill.
For further information please visit the Company's website at
www.alienmetals.uk , or contact:
Alien Metals Limited Turner Pope Investments (TPI) Limited
Bill Brodie Good, CEO & Technical (Joint Broker)
Director Andy Thacker / Zoe Alexander
St-James' Corporate Services, Tel +44 (0)20 3657 0050
Company Secretary
Tel: +44 20 7796 8644
Beaumont Cornish Limited (Nomad) First Equity Limited (Joint Broker)
James Biddle/ Roland Cornish Jason Robertson
www.beaumontcornish.com Tel +44 (0)20 7374 2212
Tel: +44 (0) 207 628 3396
Yellow Jersey PR (Financial
PR)
Sarah Hollins / Joe Burgess
/ Matthew McHale
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
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, 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 in
2020 acquired 100% of the Elizabeth Hill Silver Project, which
consists of the Elizabeth Hill Historic Silver Mine Mining Lease
and the surrounding Munni Munni North Exploration Tenement. The
Australian projects are located in the world-renowned Pilbara
region of Western Australia.
The Company also holds two silver projects located in 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. The Company's Donovan 2
Copper Gold project in the same region is currently under an
Earn-in agreement with Capstone Mining Corp. of Canada.
The company was also awarded an Exploration Licence in Greenland
in late 2020, which surrounds the world class Citronen Zinc-Lead
deposit.
In addition to progressing and developing its portfolio of
assets and following its strategic review of its portfolio of
silver and precious metals projects, Alien Metals has identified
priority exploration targets within all of its projects which it is
working to advance systematically.
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.
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
Mafic - A mafic mineral or rock is an igneous rock sourced from
molten rock from the earth core rich in magnesium and iron
Ultramafic - An Ultramafic rock is one composed almost entirely
of mafic minerals
PGE - Platinum Group Elements
Gabbroic - Gabbro is a coarse-grained, dark-coloured, igneous
rock. It is the most abundant rock in the deep oceanic crust.
Porphyritic - A rock that has a distinct difference in the size
of the crystals, with at least one group of crystals obviously
larger than another group, in igneous rocks
Dilation zone - An area within rocks where opening of cavity
forms, highly prospective areas for mineralisation
Granite - It is a coarse-grained igneous rock composed mostly of
quartz, feldspar, and plagioclase minerals. It forms from magma
that slowly cools and solidifies underground.
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