REG - Alien Metals Limited - Additional Silver Confirmed at Elizabeth Hill
24/11/2025 07:00
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RNS Number : 6318I Alien Metals Limited 24 November 2025
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK
LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI
2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
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Trading Symbols
AIM: UFO
FWB: I3A1
24 November 2025
Alien Metals Limited
("Alien" or the "Company")
Additional Silver Confirmed at Elizabeth Hill Drilling
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to report that its joint venture partner, West Coast Silver Limited (ASX: WCE) ("West Coast Silver") has announced further encouraging silver observations from its Phase 2 diamond drilling programme at the Elizabeth Hill Silver Project ("Elizabeth Hill" or the "Project") in the Pilbara region of Western Australia. This brings the total to 13 holes drilled, of which nine holes have visible silver mineralisation, confirmed by pXRF (refer to the Company's announcement dated 5 November 2025)
Belinda Murray, Executive Director of Alien, commented:
"West Coast Silver's work continues to validate our position in Elizabeth Hill. These latest results confirm the presence of additional shallow, high-grade silver and point to a system that extends beyond the historically mined areas. It is a strong outcome for this phase of work and reinforces the growth potential of the project."
The full text of the announcement issued by West Coast Silver is provided below in Appendix A.
For further information, please visit the Company's website at
www.alienmetals.uk (http://www.alienmetals.uk/) or contact:
Strand Hanson (Financial and Nominated Adviser)
James Harris / James Dance / Edward Foulkes
Tel: +44 (0) 207 409 3494
Zeus Capital Limited (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 203 829 5000
Turner Pope (Joint Broker)
Andy Thacker / James Pope
Tel: +44 (0) 203 657 0050
CMC Markets (Joint Broker)
Douglas Crippen
Tel: +44 (0) 203 003 8632
Yellow Jersey (Financial PR)
Charles Goodwin / Shivantha Thambirajah
Tel: +44 (0) 203 004 9512
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on the
AIM market of the London Stock Exchange (AIM: UFO). The Company's focus is on
delivering a profitable direct shipping iron ore operation from its 90%
Hancock iron ore project in the central Pilbara region of Western Australia.
The Hancock tenements currently contain a JORC-compliant resource of 8.4Mt
iron ore @ 60% Fe and offers significant exploration upside which is
targeted to deliver a mining operation of 2Mtpa for 10 years.
These Hancock Project tenements have direct access to the Great Northern
Highway, which provides an essential export route to export facilities at Port
Hedland, from where more than 500Mt of iron ore is exported annually (30% of
global production). The Company also has an interest in two iron ore
exploration projects Brockman and Vivash, located in the West Pilbara.
The Company owns one of Australia's largest PGM deposits, Munni Munni which
hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium,
Platinum, and Rhodium) and Gold. The Company has recently entered into a joint
venture with West Coast Silver Limited (formerly Errawarra Resources Limited)
for the development of the Elizabeth Hill Silver Project, located near
Karratha in the Pilbara, which consists of the Elizabeth Hill Mining Lease and
exploration tenements surrounding the historical silver mine which has
produced some of Australia's highest-grade silver ore during the late 1990s.
Competent Person's Statement
The information in this announcement that relates to Exploration Results is
based on information reviewed by Mr Max Nind who is a Member of the Australian
Institute of Geoscientists. Mr Nind is a consultant to Alien and a full-time
employee of ERM Australia Consultants Pty Ltd.
Mr Nind has sufficient experience that is relevant to the style of
mineralisation and type of deposits under consideration, and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the Joint Ore Reserves Committee (JORC) 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves', and a
Specialist under the VALMIN Code 2015 Edition of the 'Australasian Code for
Public Reporting of Technical Assessments and Valuations of Mineral Assets'.
Mr Nind consents to the inclusion in the announcement of the matters based on
this information and in the form and context in which it appears.
Appendix A - ASX: WCE ANNOUNCEMENT
Aircore Program Underway at Elizabeth Hill Near-Mine Targets
Highlights
· Core logging and observations continue to highlight silver mineralogy in near surface drill holes
· Silver minerals observed in 5 of the latest 8 drill holes (qualitatively verified by pXRF(( 1 )))
· Native silver logged above the historical Elizabeth Hill mine workings(( 2 )), transitioning to silver mineralogy in near surface intersections
· Geometry refined: southerly plunging mineralisation appears to widen more than expected above old mine
· Deeper holes indicate continuity at depth, suggesting a larger mineral system
· All samples dispatched; first assays expected mid-December, then progressively into January
West Coast Silver Limited (ASX: WCE) (West Coast or the Company) is pleased to
announce further encouraging silver observations from its Phase 2 diamond
program at the high-grade Elizabeth Hill Project in Western Australia's
Pilbara region (Elizabeth Hill). This brings to a total of 13 holes drilled of
which 9 holes have visible silver mineralisation, confirmed by pXRF (refer to
ASX Announcement dated 5 November 2025).
Shallow holes continue to show native silver immediately above the historical
mine workings, transitioning to silver-bearing minerals near surface (Figure
2). The two deepest holes drilled to date confirm that the Elizabeth Hill
mineral system continues at depth, extending below the historical mine and
strengthening the interpretation of a larger, vertically continuous system
(Figures 2-9). All samples have been submitted; first assay results are
anticipated in mid-December.
West Coast's current interpretation is that the southerly plunging shoot
broadens upward, potentially forming a wider, near-surface zone of silver
mineralisation than previously modelled (Figure 2). The transition from native
silver at depth to silver minerals of varying composition toward surface
likely reflects multiple mineralising pulses or secondary enrichment
processes. Further investigation of the mineralogy is underway.
Exploration efforts have now shifted to a near-mine aircore program testing
for extensions of the Elizabeth Hill system to the immediate north and south
of the deposit's surface expression.
Commenting on the aircore program, Executive Director Bruce Garlick commented:
"This second phase of drilling has delivered exactly what we set out to test -
more native silver near surface and strong indications the system continues
below the old workings. We're building confidence that Elizabeth Hill hosts a
much larger and more vertically extensive silver system than previously
recognised."
Figure 1: Map showing the location of drill holes which contained native
silver and silver and sulphide minerals and selected historical drill results.
Note: Call out results in Figure 1 have previously been shown in ASX
Announcement dated 15 October 2025
LONG SECTION
The long section shows the location of all 2025 drilling and historical
drilling, as well as the approximate position of silver mineralisation in the
phase 2 drilling program. Notably native silver mineralisation sits above the
Elizabeth Hill workings, then transitioning to different silver mineralogy,
potentially sulphide and/or oxide mineralogy.
Figure 2: Long section showing the generalised position of native and silver
mineralisation from the current drilling. The position of silver
mineralisation in drill holes 25WCDD016 and 25WCDD014 (shown as 014 and 016)
suggests that the northern boundary may extend once assays have been received.
CROSS SECTIONS AND LOCATION OF SILVER MINERALISATION
Drill Holes 25WCDD013 and 25WCDD014
Drill holes 25WCDD013 and 25WCDD014 targeted the prospective interaction of
the Munni Munni fault and the granite/ultramafic contact, as well as
mineralisation at the top of the historical Elizabeth Hill mine sequence
(Figure 3). These drill holes were previously described in WCE ASX
Announcement dated 5 November 2025.
Figure 3: Cross section showing the mineralisation outline and position of
silver mineralisation in 25WCDD013 and 25WCDD014.
Drill Holes 25WCDD016 and 25WCDD020
Drill holes 25WCDD016 and 25WCDD020 targeted the prospective interaction of
the Munni Munni fault and granite/ultramafic contact in the northern up plunge
position of the Elizabeth Hill mineralisation. These drill intersections
represent the oxidised component of the deeper, native silver and silver
sulphide mineralisation (Figure 4).
Drill hole 25WCDD020 intersected primary or secondary silver minerals adjacent
to oxidised carbonate veins at 8.45m and silver sulphide minerals <1mm in
length adjacent to carbonate veins at 27.48m, as confirmed by pXRF. Minor
silver sulphide mineralisation is associated with galena and sphalerite in a
brecciated zone with quartz veining between 39.56m and 39.62m.
Drill hole 25WCDD016 intersected minor silver mineralisation associated with
iron oxide minerals in a carbonate matrix and was previously described in WCE
ASX Announcement dated 5 November 2025.
Figure 4: Cross section with historical drilling and recently completed drill
holes 25WCDD016 and 25WCDD020.
Drill Holes 25WCDD017 and 25WCDD018
Drill holes 25WCDD017 and 25WCDD018 targeted the prospective ultramafic rock
and granite contact, as well as the Munni Munni fault. (Figure 5). Drill hole
25WCDD017 was previously described in WCE ASX Announcement dated 5 November
2025. Drill hole 25WCDD018 intersected silver mineralisation with galena and
jarosite at 21.43m, as confirmed by pXRF.
Figure 5: Cross section with historical drilling and recently completed drill
holes 25WCDD017 and 25WCDD018.
Drill Holes 25WCDD019 and 25WCDD021
Drill holes 25WCDD019 and 25WCDD021 were targeted to intersect near surface
mineralisation at the ultramafic rock and granite contact where this contact
is intersected by the subvertical Munni Munni fault (Figure 6).
Drill hole 25WCDD019 intersected silver mineralisation with 1% malachite in a
2.5cm thick vein with iron oxide minerals at 6.44m. Silver mineralisation was
also associated with dark oxidised veinlets of iron oxide and black sulphide
minerals and <2mm thick iron oxide and calcite veinlets from 9.22m to
9.63m.
No silver mineralisation was observed in 25WCDD021 with veining decreasing
away from the ultramafic/granite contact.
Figure 6: Cross section with historical drilling and recently completed drill
holes 25WCDD019 and 25WCDD021.
Drill Holes 25WCDD022 and 25WCDD024
Drill holes 25WCDD022 and 25WCDD024 were targeted to intersect the vertical
ultramafic rock/granite contact and the Munni Munni fault (Figure 7).
Drill hole 25WCDD022 intersected silver sulphide mineralisation or oxidised
native silver at 54.95m and silver mineralisation associated with sphalerite
between 55.75m and 55.90m, as confirmed by pXRF.
Drill hole 25WCDD024 did not intersect any identifiable silver mineralisation
and geochemical analyses are required to identify if any mineralisation is
present.
Figure 7: Cross section with historical drilling and recently completed drill
holes 25WCDD022 and 25WCDD024.
Drill Hole 25WCDD015
Drill hole 25WCDD015 intersected the Munni Munni fault and contact between
ultramafic rock and granite (Figure 8). Drill hole 25WCDD015 was previously
described in WCE ASX Announcement dated 5 November 2025.
Figure 8: Cross section with historical drilling and recently completed drill
hole 25WCDD015.
Drill Holes 25WCDD023 and 25WCDD025
Drill holes 25WCDD023 and 25WCDD025 were targeted to intersect the ultramafic
rock and granite contact and the Munni Munni fault below and to the south of
the historical underground workings (Figure 9).
Drill hole 25WCDD025 intersected an extensive sheeted and stockwork vein
system and silicified alteration zone between 174.45m and 208.55m.
Drill hole 25WCDD023 intersected sheeted and stockwork veins of quartz and
carbonate between 195.00m and 202.00m adjacent to the Munni Munni fault.
Silicified alteration of granite was intersected between 204.00m and 217.00m.
Figure 9: Cross section with historical drilling and recently completed drill
holes 25WCDD023 and 25WCDD025.
Laboratory Testing
All drill core from the drilling program has been cut, and half core and
quarter core samples have been dispatched for laboratory analysis. The first
analytical results are expected in mid-December and then progressively into
January 2026.
Result timeframes may vary pending on laboratory analysis requirements for
further analysis of any over-grade silver mineralisation.
Forward Work Plan
Further evaluation of tenement wide data sets will continue as part of the
Company's ongoing target generation initiatives.
An aircore drilling program has commenced targeting several high priority
targets, initially commencing on the prospects immediately north and south of
Elizabeth Hill.
The Elizabeth Hill Project
Elizabeth Hill is historically one of Australia's highest grade silver
projects and has a proven production history outlined below:
• High grades enabled low processing tonnes: 1.2Moz of silver was
produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t
Ag)(( 3 (#_ftn3) )).
• Previous mining operation ceased in 2000: because of low silver prices
(US$5)(( 4 (#_ftn4) )).
• Simplistic historical processing technique: native silver was
recovered via low-cost gravity separation techniques.
• Untapped potential remains in ground with deposit open at depth and
recent consolidation of land package offers potential to discover more
Elizabeth Hill style deposits.
• Tier 1 Mining Jurisdiction located on a mining lease with potential
processing option at the nearby Radio Hill site. Radio Hill is a
third-party-owned processing facility; WCE has no current agreement in place."
Through the consolidation of the surrounding land packages into a single
contiguous 180km(2) package significant exploration and growth potential
exists both near mine and regionally. The land package holds a significant
portion of the Munni Munni fault system, and other fault systems subparallel
to the Munni Munni fault system, which are considered prospective for
Elizabeth Hill look-a-like silver deposits.
Figure 10: Elizabeth Hill Project Tenement Location.
Appendix 1: Drill hole Collar Details
Drill Hole ID Easting (m) Northing (m) RL (mASL) Azimuth (°) Dip (°) Drilled Depth(m)
25WCDD013 487027 7667920 87.44 270 -60 38.90
25WCDD014 487057.6 7667920 89.27 270 -60 76.40
25WCDD015 487055 7667930 88.47 270 -60 76.90
25WCDD016 487051.1 7667945 87.34 270 -60 64.90
25WCDD017 487040 7667910 88.20 270 -60 66.00
25WCDD018 487027 7667910 87.50 270 -60 33.50
25WCDD019 487030 7667955 86.62 270 -60 30.40
25WCDD020 (https://www.nathan-river.com/20) 487030 7667945 87.34 270 -60 47.00
25WCDD021 487045 7667955 86.77 270 -60 53.00
25WCDD022 487047 7667900 81.12 270 -60 56.55
25WCDD023 487110 7667820 84.18 270 -60 221.80
25WCDD024 487030 7667900 80.03 270 -60 40.00
25WCDD025 487093 7667825 82.38 270 -60 209.90
Note: Grid coordinate system is GDA94 Zone 50
Appendix 2: JORC Code, 2012 - Table 1 - Elizabeth Hill Diamond Drill Program, October 2025
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation
Commentary
Sampling techniques · Nature and quality of sampling (e.g. cut channels, random chips, or · Portable XRF (pXRF) readings have been recorded on core samples in zones
specific specialised industry standard measurement tools appropriate to the which have been identified to potentially contain mineralisation by visual
minerals under investigation, such as down hole gamma sondes, or handheld XRF logging. The small (<8mm) pXRF beam has been aimed at the minerals of
instruments, etc). These examples should not be taken as limiting the broad interest to take 1 reading to confirm/or falsify the presence of silver
meaning of sampling. bearing minerals or other oxide and/or sulphide minerals to assist with the
logging and sampling of the drill core.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · pXRF does not record temperature readings but ambient climate
temperatures range from 27-40 deg Celsius.
· Aspects of the determination of mineralisation that are Material to
the Public Report. · Portable XRF is calibrated daily along with Certified Reference Material
(CRM) checks during analysis.
In cases where 'industry standard' work has been done this would be relatively
simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other
cases, more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation
types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary · Drilling was undertaken with a track-mounted LF90 diamond core drill rig
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple capable of drilling HQ core to 600m. Core was recovered in a triple tube. All
or standard tube, depth of diamond tails, face-sampling bit or other type, the core in this program was to be drilled HQ3.
whether core is oriented and if so, by what method, etc).
· Core is orientated using Reflex ACT III HQ tool.
· Drillhole collars were surveyed using an IMDEX TN14 Gyro and Differential
GPS.
· A Reflex Omni X-42 North Seeking Gyro is used for downhole surveying of
the drill holes and is calibrated prior to use, with readings taken at
approximately every 5m on the in and out run.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Core recovery was systematically recorded from the commencement of
results assessed. diamond coring to the end of hole, by reconciling against driller depth
blocks, production plods and knowledge obtained from visual inspection.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Core recoveries typically averaged above 90% with isolated minor zones of
Whether a relationship exists between sample recovery and grade and whether lessor recovery.
sample bias may have occurred due to preferential loss/gain of fine/coarse
material. · Samples have been submitted to the laboratory for analysis with results
awaited and any relationship between core recovery and grade has yet to be
determined. There is no reason to expect any sampling bias.
· Detailed core recovery data is maintained throughout the program as part
of the geotechnical logging.
Logging · Whether core and chip samples have been geologically and · Diamond drill core is orientated and geologically and geotechnically
geotechnically logged to a level of detail to support appropriate Mineral logged for the entire drill hole by an experienced team of geologists and the
Resource estimation, mining studies and metallurgical studies. data stored in a database.
· Whether logging is qualitative or quantitative in nature. Core (or · All core logging is both qualitative and quantitative in nature.
costean, channel, etc) photography.
· Photographs are taken prior to the cutting and sampling of the core; core
· The total length and percentage of the relevant intersections logged. is wetted to improve the visibility of features in the photographs.
Subsampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · No new drill sample assay results are being reported. The portable XRF
taken. analyses are based on individual readings on minerals taken on the core in
zones where visual logging identified the potential presence of mineralisation
· If non-core, whether riffled, tube sampled, rotary split, etc and minerals. The analyses were on core in the core trays and was to assist with
whether sampled wet or dry. the identification of minerals for the geological core logging and sampling.
· For all sample types, the nature, quality and appropriateness of the · pXRF QAQC includes daily calibration and analysing a CRM standard, every
sample preparation technique. 20 samples.
· Quality control procedures adopted for all subsampling stages to · The CRM used was OREAS 133A.
maximise representivity of samples.
· pXRF analysis may introduce some sample variability and pXRF results are
· Measures taken to ensure that the sampling is representative of the regarded as qualitative at this stage.
in-situ material collected, including for instance results for field
duplicate/second-half sampling. · 30 second readings were undertaken on minerals of interest.
· Whether sample sizes are appropriate to the grain size of the · pXRF readings are only performed on dry drill core.
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · The pXRF is an Olympus Vanta with the latest 2025 software and is
laboratory procedures used and whether the technique is considered partial or calibrated daily. Analysis method uses 3 beam analysis set to 10 sec per beam
total. for a 30 second read time.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, · CRM is analysed every 20 samples and has shown good repeatability.
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.
· Nature of quality control procedures adopted (e.g., standards,
blanks, duplicates, external laboratory checks) and whether acceptable levels
of accuracy (i.e., lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either independent · pXRF data is exported digitally from devices for import into a digital
or alternative company personnel. database.
· The use of twinned holes. · No changes or calibrations have been applied to the pXRF data.
· Documentation of primary data, data entry procedures, data · The current drill program is aimed to twin several historical drill holes
verification, data storage (physical and electronic) protocols. to verify grade reported for the historical drill holes.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · 2025 drill holes are located using a Differential GPS (DGPS), with
and down-hole surveys), trenches, mine workings and other locations used in accuracy to within 20cm for northing and easting. Historical collars have been
Mineral Resource estimation. surveyed by DGPS in instances where collars have been identified.
· Specification of the grid system used. · 2025 drilling uses a downhole north seeking gyro for surveys that
provides continuous readings in and out of the drill hole. The data is
· Quality and adequacy of topographic control. uploaded into a data base for storage.
· A 0.5m DTM is used for topographic control.
· Data has been collected in GDA94/MGA Zone 50.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · pXRF data have only been used to identify minerals and assist logging and
sampling of the core.
· Whether the data spacing, and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · Samples will be submitted for laboratory analysis and no assay results
Resource and Ore Reserve estimation procedure(s) and classifications applied. are reported in this release.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The drilling has an average dip of approximately -60° across the
possible structures and the extent to which this is known, considering the program. The dip is designed to intersect the mineralisation most effectively
deposit type. and be able to penetrate the mineralised envelope fully, allowing calculation
of 'true thicknesses' at the completion of the drill program. Currently
· If the relationship between the drilling orientation and the described logged intersections do not represent true thickness.
orientation of key mineralized structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · Angled drilling is being used to investigate cross-cutting mineralised
structures, with assessment ongoing.
· The drill orientation is not expected to have introduced any sampling
bias.
Sample security · The measures taken to ensure sample security. · Not relevant for portable XRF analysis taken on site.
· Samples have been stored in a secured yard in Karratha under supervision
by WCE personnel.
· Samples have then been dispatched to ALS laboratories using a licenced
transport company (Bishop's Transport).
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · No audits or reviews of the portable XRF sampling techniques and data has
taken place. pXRF results are preliminary only, and only laboratory assays
will be used as quantitative analysis and in Mineral Resource calculations.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The results reported in this announcement refer to core from holes
agreements or material issues with third parties such as joint ventures, drilled wholly on M47/342.
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · The tenement lies within the Ngarluma Native Title claim.
· The security of the tenure held at the time of reporting along with · The tenement is in good standing with no known impediments.
any known impediments to obtaining a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · The Elizabeth Hill deposit and adjoining area has been explored for
Ni, Cu, PGM, base metals, Li and Ag mineralisation since 1968 when US Steel
International Inc explored the area for base metals and nickel.
· Massive silver was discovered in ~1994-1995 by Legend Mining NL in
a percussion hole drilling program. Further drilling followed and in 1997 an
exploration shaft and drive was sunk by East Coast Minerals NL.
· Underground mining at Elizabeth Hill was conducted in 1999-2000
with additional drilling completed by East Coast Minerals NL until the project
was sold to Global Strategic Metals NL in 2012. Alien Metals Ltd purchased the
lease M47/342 in early 2020.
Geology · Deposit type, geological setting and style of mineralisation. · The Elizabeth Hill silver mineralisation is structurally controlled
and is located at the contact of the ultramafic Munni Munni intrusion to the
east and Archaean gneisses and granites to the west. This contact is occupied
by the north-south trending Munni Munni Fault. Mineralisation has been
intersected over a 100m north-south zone along the boundary of the Munni Munni
Fault, plunging south along the granite contact. The zone has an east-west
width of 15-20m with the high-grade core restricted to around 3m width in the
region of the underground workings. The mineralised zone is separated into
several pods and occurs within a quartz carbonate chalcedonic silica breccia
that contains carbonate and quartz veins. The silver occurs in fine
disseminations, needles, veins, nuggets and platelets up to several
centimetres in diameter.
Drill hole Information · A summary of all information material to the understanding of the · Drill information relevant to this release has been provided above
exploration results including a tabulation of the following information for in Appendix 1.
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in
metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · 2025 or historical drilling assay data referenced has previously
maximum and/or minimum grade truncations (e.g., cutting of high grades) and been reported in ASX Announcements.
cut-off grades are usually Material and should be stated.
· pXRF results have only been used to confirm the presence of silver
· Where aggregate intercepts incorporate short lengths of high-grade bearing minerals in support of geological logging.
results and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Drill hole intersections are not true widths due to sub vertical
Exploration Results. geometry of the mineralised body and the average -60° dip of the drill holes
in the 2025 drill program.
· If the geometry of the mineralisation with respect to the drill
hole angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported,
there should be a clear statement to this effect (e.g., 'down hole length,
true width not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Appropriate maps and figures have been included in this
intercepts should be included for any significant discovery being reported. Announcement.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · All relevant and material exploration data to highlight the target
practicable, representative reporting of both low and high grades and/or areas discussed have been reported or referenced.
widths should be practiced to avoid misleading reporting of Exploration
Results · No assay data are reported.
· Historical drill data referenced in this release has been
previously reported in ASX Announcements.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · All relevant and material exploration data for the target areas
reported including (but not limited to): geological observations; geophysical discussed, have been reported or referenced.
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances
Further work · The nature and scale of planned further work (e.g., tests for · Further work will include but not limited to systematic geological
lateral extensions or depth extensions or large-scale step-out drilling). mapping, channel and rock chip sampling, soil sampling, pXRF, geophysics,
structural interpretation, historical data compilation, and drilling to
· Diagrams clearly highlighting the areas of possible extensions, identify suitable host rock geology and structural architecture for
including the main geological interpretations and future drilling areas, polymetallic mineralisation.
provided this information is not commercially sensitive.
· Diagrams are included in this Announcement.
1 Portable XRF readings are not a replacement for comprehensive laboratory
analysis and only reflect elemental concentration at specific points, rather
than the entire rock. While they assist in geological interpretation,
verifying metal presence and selecting which samples should undergo full
laboratory analysis, they offer only an approximate concentration.
2 Refer ASX announcement dated 5th November 2025.
3 WAMEX Annual Report,1 April 2014 to 31 March 2015, Elizabeth Hill Silver
Project, Global Strategic Metals NL, p16
4 www.kitco.com/charts/silver
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