REG - Alien Metals Limited - Australian FIRB approval for Munni Munni Project

Alien MetalsAnnouncement

28/02/2022 07:00

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RNS Number : 9454C  Alien Metals Limited  28 February 2022

 

 

Trading Symbols

AIM: UFO

FWB: I3A1

OTC: ASLRF

 

28 February 2022

Alien Metals Ltd

("Alien Metals" or "the Company")

 

Australian Foreign Investment Review Board approval for

Munni Munni Platinum Group Metals and Gold Project acquisition

 

Alien Metals Ltd (LSE AIM:UFO) (FWB:I3A1) (OTC:ASLRF), a global minerals
exploration and development company, is pleased to advise that the Company has
received a 'no objection' letter from the Australian Foreign Investment Review
Board ("FIRB") in relation to the Company's acquisition of a 100% interest in
the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara,
Western Australia ("Munni Munni Project") ("Acquisition"). As announced on 24
November 2021, the Munni Munni Project is currently subject to a joint venture
between Artemis Resources Limited (ASX/AIM:ARV) and Platina Resources Limited
(ASX:PGM).

The 'no objection' from FIRB was one of the key conditions precedent to the
Acquisition, as referenced in the Company's announcement on 21 January 2022,
with the Company planning to satisfy the remaining conditions in the coming
weeks.

 

Bill Brodie Good, Chief Executive Officer & Technical Director of Alien
Metals, commented: "Receiving FIRB approval from the Australian Government for
the acquisition of the Munni Munni Project satisfies one of the most
significant regulatory conditions precedent to the transaction. We are now
working on finalising the outstanding aspects to the conditions precedent to
be able to complete soonest and start working in earnest on this very exciting
project."

 

The Munni Munni Project hosts the largest ultramafic intrusion in the West
Pilbara and is one of the biggest undeveloped primary Platinum Group Elements
('PGE') Resources in Australia.

 

The historic non-compliant JORC 2004 Resource estimate* implied 24Mt @ 2.9g/t
Platinum Group Element (PGE) and gold for 2.2Moz PGM3, around 95% of this
resource estimate was in the Measured and Indicated categories with the
resource hosting 1.14Moz palladium, 0.83Moz platinum, 152Koz gold and 76Koz
rhodium.

*Resource published under 2004 JORC code and accordingly is not reported under
a Standard under the AIM Rules. The historic resource figures are derived from
the announcement s  on the ASX published by Helix Resources on 3rd April 2003

 

For further information please visit the Company's website
at www.alienmetals.uk (http://www.alienmetals.uk/) , or contact:

 

 Alien Metals Limited                                        Turner Pope Investments (TPI) Limited (Joint Broker)

 Bill Brodie Good, CEO & Technical Director                  Andy Thacker / James Pope

 Tel: +44 (0)20 3811 2144                                    Tel +44 (0)20 3657 0050

 Beaumont Cornish Limited (Nomad)                            WH Ireland Ltd (Joint Broker)

 James Biddle / Roland Cornish                               Harry Ansell / Katy Mitchell

 www.beaumontcornish.com (http://www.beaumontcornish.com/)   Tel +44 (0)20 7220 1666

 Tel: +44 (0)20 7628 3396

 Yellow Jersey PR (Financial PR)

 Sarah Hollins / Annabel Atkins / James Lingfield

 alienmetals@yellowjerseypr.com (mailto:alienmetals@yellowjerseypr.com)

 Tel: +44 (0) 20 3004 9512

Notes to Editors

 

Alien Metals Ltd is a mining exploration and development company listed on the
AIM market 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 with a
conditional agreement to increase its interest to 90% in May 2021 also being
put in place.

In 2020 the Company agreed to acquire 100% of the Elizabeth Hill Silver
Project, which consists of the Elizabeth Hill Historic Silver Mine Mining
Lease and the 150km2 exploration tenement around the mine. The Company also
holds two silver projects, San Celso and Los Campos, located in Zacatecas
State, Mexico, 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 also holds a Copper Gold
project in the same region, Donovan 2.

In November and December 2021, the Company entered into two Binding Heads of
Agreement with ASX listed Platina Resources Ltd and Artemis Resources Limited
to acquire 100% of the current joint venture interest in the Munni Munni
Platinum Group Metals and Gold Project in the West Pilbara, Western Australia,
one of Australia's major underexplored PGE and base metals projects. Munni
Munni holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium.

The Company was also awarded an Exploration Licence in Greenland in late 2020,
which surrounds the world class Citronen Zinc-Lead deposit.

Glossary

Mt - Million Tonnes

Moz - Million Ounces

Koz - Thousand Ounces

g/t - Grams per Tonne

PGE - Platinum Group Elements

 

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