REG - Alien Metals Limited - Assay Update at Elizabeth Hill

Alien MetalsAnnouncement

18/12/2025 09:00

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RNS Number : 1156M  Alien Metals Limited  18 December 2025

 

Trading Symbols

AIM: UFO FWB: I3A1

18 December 2025

 

Alien Metals Limited

("Alien" or the "Company")

Geological Indicators for Silver in Aircore Drilling: Assay Update
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" or "West Coast Silver") has announced that its aircore (AC) drill programme at the high-grade Elizabeth Hill Silver Project, to define targets surrounding the historical mine and along the Munni Munni margin has been completed with 76 holes for 1,060m. The aircore programme has intersected strong geological indicators, similar to those seen at the Elizabeth Hill mine. Samples have been submitted for assay with results due by the end of February.
The programme followed completion of the 1,015m, Phase 2 diamond drilling campaign at the Elizabeth Hill mine (testing near-surface high-grade mineralisation, and prospective areas at depth below historical workings), that intersected visible native silver, for which assays are pending.
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

 

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 follows a
balanced strategy of advancing and strengthening its asset portfolio through
targeted technical work and project development, while evaluating
partnerships, joint ventures, and selective monetisation opportunities that
are value-enhancing for shareholders. At the same time, Alien will continue to
consider opportunities to expand our asset base through carefully selected
acquisition opportunities which meet the Board's prudent criteria.

 

Alien's principal focus is the advancement and development of its 90%-owned
Hancock Iron Ore Project in the central Pilbara region of Western Australia.
The Hancock tenements contain a JORC-compliant resource of 8.4Mt at 60% Fe and
offer significant exploration upside, which is targeted to deliver a mining
operation of 2Mtpa for 10 years. The Project benefits from direct access to
the Great Northern Highway, providing a route to export facilities at Port
Hedland, one of the world's largest iron ore export hubs. Alien also holds
exploration interests in the Brockman and Vivash iron ore projects in the West
Pilbara.

 

Alien additionally retains exposure to two advanced precious and base metal
assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems
hosting a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium)
and gold, the Company has entered into a conditional joint venture with
GreenTech Metals Ltd, under which Alien will retain a 30% interest, free
carried to the completion of a bankable feasibility study. Alien also retains
a 30% interest in the Elizabeth Hill Silver Project through a joint venture
with West Coast Silver Limited, which encompasses 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.

 

 

Appendix A - ASX: WCE ANNOUNCEMENT

Geological Indicators for Silver in Aircore Drilling: Assay Update
Highlights
·    Aircore drilling at the Elizabeth Hill Silver Project has been completed with 76 holes for 1,060m, successfully testing multiple near-mine and regional prospects. Aircore is a rapid, shallow, cost-effective reconnaissance exploration technique.
·    Strong geological indicators, similar to those seen at the Elizabeth Hill mine, identified in logging of aircore chips and core, including:
o  Intense chlorite and silica alteration.
o  Carbonate veining.
o  Iron oxide staining is associated with interpreted structures.
·    Fertile ultramafic-granite contact confirmed at NM2, NM5 and NM6 prospects consistent with the structural setting of historical high grade silver mineralisation at Elizabeth Hill (Figure 1).
·    Aircore drilling intersected alteration and lithologies at NM5 prospect interpreted to be the near surface continuation of the contact position in historical high-grade drill hole:
o  2m @ 1,550g/t Ag from 108m (AMEHRC012) located 300m from the Elizabeth Hill mine.
·    NM5 and NM6 prospects have been upgraded for priority follow-up exploration, based on the confirmation of favourable geology and alteration.
·    Aircore assay results are expected to be returned by the end of February 2026.
·    Samples from the recently completed diamond drilling are currently undergoing laboratory QA/QC checks, with assay results expected mid to late January 2026(1)

 

West Coast Silver Limited (ASX: WCE) ('West Coast Silver' or the 'Company') is
pleased to advise that its aircore (AC) drill program at the high-grade
Elizabeth Hill Silver Project in the Pilbara, to define targets surrounding
the historical mine and along the Munni Munni margin has been completed with
76 holes for 1,060m. The aircore program has intersected strong geological
indicators, similar to those seen at the Elizabeth Hill mine. Samples have
been submitted for assay with results due by the end of February. The program
followed completion of the 1,015m, Phase 2 diamond drilling campaign at the
Elizabeth Hill mine (testing near-surface high-grade mineralisation, and
prospective areas at depth below historical workings), that intersected
visible native silver, for which assays are pending.

 

Commenting on the results, Executive Chairman Bruce Garlick said:

 

"We are very encouraged by the outcomes of the aircore program, which has
successfully confirmed multiple zones with strong geological indictors at
several high-priority near-mine prospects at Elizabeth Hill.

 

The drilling has validated key structural and lithological controls, including
ultramafic-granite contacts, alteration, and carbonate veining that are
consistent with the setting of historical high-grade silver mineralisation. We
now eagerly await assay results to further refine targeting for the 2026 drill
program, with the objective of identifying a repeat of the Elizabeth Hill
deposit.

 

This program marks the conclusion of our 2025 exploration activities and
represents the third successful drilling campaign completed during the year.
When combined with the strong assay results from the Phase 1 diamond drilling
program, and the visual observations of native silver with assays pending from
Phase 2, the Company is well positioned to advance Elizabeth Hill through a
focused and high-impact exploration program in 2026".

 

(1)Refer ASX Announcement dated 24 November 2025.

 

Figure 1: Near-mine prospects: geology, geochemistry and aircore drill hole
locations

 

Figure 2: Near mine geophysics, geochemistry and aircore drill hole locations

(overlain on detailed drone magnetics Total Magnetic Intensity data - reduced
to the pole)

 

 

Aircore Drill Program

 

Aircore (AC) drilling is a rapid, cost-effective, low-impact reconnaissance
drilling method commonly used to test shallow targets below deeply weathered
and alluvial surface material. The objectives of the aircore drill program
were to (i) confirm structural/stratigraphic controls along the Munni Munni
fault and ultramafic/granite contact, highlighted by drone magnetics and other
integrated geoscientific data, and (ii) identify zones of anomalous
geochemistry for follow up drilling and or other exploration works.

 

The near mine prospects tested with the aircore drilling are highlighted in
Figures 1 and 2 (refer to WCE ASX Announcement dated 13 November 2025).

 

The drilling tested the NM1 prospect, north of the historical Elizabeth Hill
silver mine, for extensions of the mineralisation controlled by the Munni
Munni fault (Figure 1 and Figure 2). Logging of AC chips identified altered,
chloritised and silicified granite in the aircore drill line north of
historical drill hole 22AMC011 (4m @ 60g/t Ag from surface), possibly
representing alteration associated with the Munni Munni fault.

 

Aircore drilling also tested the southern extension of the Munni Munni fault
and delineated the fertile ultramafic/granite contact south of the Elizabeth
Hill Silver mine at the NM2, NM5 and NM6 prospects (Figure 1 and Figure 2). At
the NM5 prospect, geological logging identified strongly chlorite altered
pyroxenite (ultramafic rock) containing carbonate veins adjacent to the
granite contact, approximately 50m west of the collar of historical drill hole
AMEHRC012 (2m @ 1,550g/t Ag from 108m). The ultramafic/granite contact
intersected in the AC drilling is interpreted to be the near surface
continuation of the contact position intersected in AMEHRC012.

 

The two AC holes planned to test the strong soil anomaly and
ultramafic/granite contact at the NM4 prospect failed to reach the contact due
to rock conditions (Figure 1 and Figure 2). This prospect will need to be
reassessed in terms of future exploration.

 

At the RS12 North prospect, aircore holes were planned to test a strong soil
anomaly adjacent to the ultramafic/granite contact and mapped structures
within the ultramafic rocks. While the drilling intersected a
granite/ultramafic contact that are related to thin (0.5-1m wide) granitic
dykes it did not test the main contact position. This prospect will need to be
reassessed in terms of future exploration.

 

At RS12 South, drilling targeted a break in the magnetic signature of the
rocks, near coincident soil anomaly and electromagnetic anomaly. A traverse of
three holes tested the target zone however no clear signs to explain this
anomalous area was evident from geological logging of the AC chips. Drilling
intersected strongly chlorite altered pyroxenites and trace (<0.5%)
chalcopyrite (Figure 1 and Figure 2).

 

A single drill hole was targeted between the RS12 South and RS13 prospects
aimed to test an interpreted structure and mapped calcite veins in pyroxenite
outcrop. Drilling intersected iron oxide staining in pyroxenite from 8m to
12m, which may represent a structure, and chloritised and silicified
pyroxenite with 2-5% sulphides (pyrite, chalcopyrite) from 22m to 24m. This
area will need to be reassessed in terms of future exploration.

 

Cautionary Statement

 

WCE emphasises that visual estimates of mineral abundance should not be
regarded as a proxy or substitute for laboratory analyses, particularly when
concentrations or grades are of primary economic significance. Furthermore,
visual estimates do not yield information concerning impurities or detrimental
physical properties that are pertinent to valuations.

 

Laboratory Testing

 

Samples from the AC drilling have been sent for laboratory assaying with
results expected to be returned by the end of February 2026.

 

Result timeframes may vary pending lab analysis requirements for further
testing.

 

Update on Assays for Diamond Drilling

 

Samples from the diamond drilling program, testing shallow historical
high-grade silver, are currently undergoing QA/QC checks at the laboratory
with some samples sent to ALS Canada for additional test work. Indications are
these will be finalised and are expected to be received in mid to late January
2026.

 

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)(( 1 )).

•   Previous mining operation ceased in 2000: because of low silver prices
(US$5)(( 2 )).

•   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.

 

 

Figure 3: Tenement Location.

 

 

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.

 

This ASX announcement has been authorised for release by the Board of
Directors of West Coast Silver Limited. For further information, please
contact:

 

Bruce Garlick

Executive Director

West Coast Silver Limited

E: info@westcoastsilver.com.au

 

Competent Person 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 West Coast Silver 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.

Forward-Looking Statements

Statements in this announcement which are not statements of historical facts,
including but not limited to those relating to the proposed transaction, are
forward-looking statements. These statements instead represent management's
current expectations, estimates and projections regarding future events.
Although management believes the expectations reflected in such
forward-looking statements are reasonable, forward-looking statements are
based on the opinions, assumptions and estimates of management at the date the
statements are made and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.

Accordingly, investors are cautioned not to place undue reliance on such
statements.

Cautionary Statement

This document is confidential and may not be reproduced, redistributed or
passed on, directly or indirectly. This document is neither a prospectus nor
an offer to subscribe for fully paid ordinary shares. West Coast Silver and
its directors, employees and consultants make no representations or warranty
as to the accuracy, reliability or completeness of this document, and have no
liability, including liability to any person by reason of negligence of, or
contained in or derived from, or for any omissions from this document, except
liability under statute that cannot be excluded. This document contains
reference to certain targets and plans of West Coast Silver which may or may
not be achieved. The performance of West Coast Silver may be influenced by a
number of factors, uncertainties and contingencies, many of which are outside
the control of the Company and its directors, staff and consultants.

 

Appendix 1

 

Location and hole details for recent West Coast air core drill holes.

 

 Hole Name   Easting (m)    Northing (m)   Elevation (m)  End of Hole Depth (m)  Azimuth (°)   Dip (°)
 25WCAC001  487,020        7,667,955       86.4           26                     270           -60
 25WCAC002  487,020        7,667,964       86.3           24                     270           -60
 25WCAC003  487,044        7,667,965       86.1           3.5                    270           -60
 25WCAC004  487,033        7,667,985       85.1           3.5                    270           -60
 25WCAC005  487,046        7,667,989       84.8           5                      270           -60
 25WCAC006  487,039        7,668,006       84.4           3                      270           -60
 25WCAC007  487,030        7,668,095       83.5           5                      270           -60
 25WCAC008  487,025        7,668,095       83.4           8.5                    270           -60
 25WCAC009  487,020        7,668,096       85.4           11                     270           -60
 25WCAC010  487,010        7,668,096       85.4           9                      270           -60
 25WCAC011  487,005        7,668,096       83.4           15                     270           -60
 25WCAC012  487,002        7,668,095       83.5           8.5                    270           -60
 25WCAC013  487,036        7,668,095       83.4           4                      270           -60
 25WCAC014  487,001        7,668,079       83.5           7                      090           -60
 25WCAC015  487,004        7,668,081       83.5           2.5                    270           -60
 25WCAC016  487,006        7,668,081       83.5           7                      270           -60
 25WCAC017  487,010        7,668,053       83.8           5                      270           -60
 25WCAC018  487,015        7,668,053       83.8           4                      270           -60
 25WCAC019  487,020        7,668,053       83.8           5                      270           -60
 25WCAC020  487,024        7,668,053       83.8           5.5                    270           -60
 25WCAC021  487,029        7,668,053       83.8           3                      270           -60
 25WCAC022  487,034        7,668,053       83.8           7                      270           -60
 25WCAC023  487,029        7,668,031       84.1           4                      270           -60
 25WCAC024  487,038        7,668,031       84.1           3                      270           -60
 25WCAC025  487,028        7,667,986       85.0           8                      270           -60
 25WCAC026  487,029        7,668,007       84.4           4                      270           -60
 25WCAC027  487,100        7,668,134       82.8           4.5                    270           -60
 25WCAC028  487,095        7,668,134       82.8           3                      270           -60
 25WCAC029  487,105        7,668,134       82.9           5.5                    270           -60
 25WCAC030  486,921        7,667,622       87.3           6                      135           -60
 25WCAC031  486,960        7,667,667       86.6           12                     270           -60
 25WCAC032  486,950        7,667,666       86.7           18                     270           -60
 25WCAC033  486,940        7,667,666       86.9           7.5                    270           -60
 25WCAC034  486,930        7,667,666       86.9           9                      270           -60
 25WCAC035  486,937        7,667,666       86.9           6                      270           -60
 25WCAC036  486,989        7,667,667       86.5           27                     270           -60
 25WCAC037  486,864        7,667,618       87.6           3                      135           -60
 25WCAC038  486,872        7,667,609       87.6           6                      135           -60
 25WCAC039  486,883        7,667,599       87.7           21                     135           -60
 25WCAC040  486,930        7,667,607       87.4           19                     135           -60
 25WCAC041  486,951        7,667,589       87.6           25                     135           -60
 25WCAC042  486,865        7,667,577       88.0           18                     270           -60
 25WCAC043  486,870        7,667,577       88.0           18                     270           -60
 25WCAC044  486,865        7,667,528       88.5           19                     270           -60
 25WCAC045  486,870        7,667,480       88.9           36                     270           -60
 25WCAC046  486,865        7,667,440       89.3           30                     270           -60
 25WCAC047  486,870        7,667,396       90.0           30                     270           -60
 25WCAC048  486,870        7,667,363       90.7           48                     270           -60
 25WCAC049  486,914        7,667,367       92.3           30                     270           -60
 25WCAC050  486,901        7,667,367       91.7           20                     270           -60
 25WCAC051  486,884        7,667,365       91.1           20                     270           -60
 25WCAC052  486,911        7,667,327       94.7           20                     270           -60
 25WCAC053  486,901        7,667,331       93.7           16                     270           -60
 25WCAC054  486,886        7,667,326       92.9           33                     270           -60
 25WCAC055  486,870        7,667,324       92.0           51                     270           -60
 25WCAC056  486,885        7,667,282       94.9           8                      270           -60
 25WCAC057  487,421        7,667,666       95.2           8                      090           -60
 25WCAC058  487,469        7,667,611       97.1           11                     042           -60
 25WCAC059  487,625        7,666,748       102.8          4                      100           -60
 25WCAC060  487,611        7,666,752       101.1          13                     100           -60
 25WCAC061  487,636        7,666,696       105.5          10                     100           -60
 25WCAC062  487,631        7,666,674       104.7          18                     100           -60
 25WCAC063  487,523        7,666,495       101.2          19.5                   100           -60
 25WCAC064  487,534        7,666,493       100.8          13                     100           -60
 25WCAC065  487,549        7,666,487       100.5          20                     100           -60
 25WCAC066  487,514        7,666,276       101.5          24                     135           -60
 25WCAC067  487,665        7,666,395       97.5           12                     060           -60
 25WCAC068  486,940        7,667,598       87.5           31                     135           -60
 25WCAC069  486,962        7,667,579       87.6           24                     135           -60
 25WCAC070  486,881        7,667,578       87.9           15                     270           -60
 25WCAC071  486,883        7,667,599       87.6           14                     315           -60
 25WCAC072  486,879        7,667,603       87.7           12                     315           -60
 25WCAC073  486,931        7,667,607       87.3           7                      315           -60
 25WCAC074  486,935        7,667,603       87.3           9                      315           -60
 25WCAC075  486,866        7,667,561       88.1           7                      270           -60
 25WCAC076  486,872        7,667,593       87.7           28                     270           -60

Note: GDA94 Zone 50 coordinate system

 

 1  WAMEX Annual Report,1 April 2014 to 31 March 2015, Elizabeth Hill Silver
Project, Global Strategic Metals NL, p16

 2  www.kitco.com/charts/silver

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