REG - Alien Metals Limited - Hancock Awarded Two New Exploration Leases

Alien MetalsAnnouncement

21/05/2025 12:00

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RNS Number : 6201J  Alien Metals Limited  21 May 2025

Trading Symbols

AIM: UFO

FWB: I3A1

21 May 2025

 

 

Alien Metals Limited

("Alien" or the "Company")

 

Hancock Continues to Grow with the Successful Granting of Two New Exploration
Leases

 

Alien Metals Limited (AIM: UFO), a minerals exploration and development
company, is pleased to announce that it has been awarded two new Exploration
Leases that border the existing Mining Lease at its flagship Hancock Iron Ore
Project in Newman, Western Australia (the "Hancock Project").

Highlights:
 

·    Exploration Leases E47/5157 and E47/5158 have been granted with no
Native Title objections.

·    The two new Exploration Leases are adjacent to the existing Mining
and Exploration Leases at the Hancock Project (refer to Figure 1) and expand
the Company's exploration area by more than 50% from 41.0 km(2) to 63.0km(2).

·    Works are proceeding to upgrade our exploration targets, including
the imminent mobilisation of a team of geologists to site to further
investigate the prospectivity of these two new Exploration Leases via a rock
chip sampling and assay programme.

Figure 1: Hancock Project Tenement Summary

 

Christopher Maiolo, General Manager Project Development, commented:

"The successful grant of two new Exploration Leases adjacent to our flagship
Hancock Project represents a strategic expansion of our footprint in the
region. Importantly, no Native Title objections were received during the
granting process.

"The high prospectivity of these two leases should not be underestimated. Our
team has been working on an exploration plan in relation to these two new
leases for some time, and we are looking forward to mobilising to site over
the coming weeks to commence a rock chip sampling and assay programme across
these two new leases which will feed into a new drill programme that should
further grow the Hancock Project."

"The Company continues to work collaboratively with BHP Group Limited to
finalise an Access Deed that will facilitate the issuance of E47/5159 in the
coming period, further consolidating the Company's interests around the highly
prospective tenements and enabling further expansion of exploration and
development activities across the broader tenement package."

 

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 / Robert Collins Tel: +44 (0) 207 409 3494

 

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell Tel +44 (0) 203 829 5000

 

CMC Markets (Joint Broker)

Douglas Crippen

Tel: +44 (0) 203 003 8632

 

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay 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 it 90%
Hancock iron ore project in the central Pilbara region of Western Australia.
The Hancock Project 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 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 explora5on tenements surrounding the
historical silver mine which has produced some of Australia's highest-grade
silver ore during the late 1990s.

Hancock Iron Ore Project

 

Table 1: Hancock Iron Ore Project Mineral Resource Table(1)

 Classification Category  Prospect     Mass               Average Value

                                       (Million Tonnes)
                          Fe                              SiO(2)       Al(2)O(3)  P     LOI  MnO

                          %                               %            %          %     %    %
 INDICATED                Sirius Ext.  2.8                59.8    3.9  4.09       0.17  5.4  0.05
                          Ridge C      0.7                60.9    4.9  3.27       0.12  3.7  0.03
                          Ridge E      1.0                61.0    5.2  3.30       0.12  3.4  0.02
 Sub Total - Indicated                 4.5                60.2    4.3  3.79       0.15  4.7  0.04
 INFERRED                 Sirius Ext.  3.1                59.6    4.6  3.99       0.17  5.2  0.05
                          Ridge C      0.4                60.8    4.6  3.07       0.14  4.4  0.03
                          Ridge E      0.3                59.8    4.9  3.64       0.17  5.0  0.02
 Sub Total - Inferred                  3.8                59.7    4.6  3.88       0.17  5.1  0.05
 TOTAL                                 8.4                60.0    4.4  3.83       0.17  4.9  0.05

 

1.     Refer to the Company's announcement on 8 February 2024 'Iron Ore
Development Study delivers excellent project economics - NPV(10) of A$146m
with additional exploration potential'.

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