REG - Alien Metals Limited - Mining Lease Granted – Hancock Project

Alien MetalsAnnouncement

19/04/2024 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240419:nRSS3375La&default-theme=true

RNS Number : 3375L  Alien Metals Limited  19 April 2024

 

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.
 
Trading Symbols

AIM: UFO FWB: I3A1

19 April 2024

Alien Metals Ltd

("Alien Metals" or "the Company")

Mining Lease Granted - Hancock Project

 

Alien Metals (AIM: UFO), a company focused on the exploration and development
of the Hancock iron ore Project ("Hancock Project") and the Pinderi Hills
project in Western Australia, is pleased to advise that the Mining Lease for
the Hancock Project has been granted by the Western Australian Department of
Mines, Industry Regulation and Safety (the "Department of Mines").

Overview

The Department of Mines has on 18 April 2024 granted the Mining Lease
(M47/1633) for the Hancock Project to Alien Metals, representing a key
milestone on the pathway towards development. This gives security of tenure
for a 21-year term through to 17 April 2045.

The Company, as previously announced, has now completed the following
commitments and key milestones:

·    The execution of Heritage Agreements with the Karlka Nyiyaparli
Aboriginal Corporation RNTBC ("KNAC") associated with two Exploration Licences
and one Miscellaneous Licence for the Hancock Project.

·    The grant of a Miscellaneous Licence provides the Company necessary
tenure to construct the essential infrastructure (subject to a Final
Investment Decision) for site access from the Great Northern Highway to the
proposed mine site.

·    Entered into a conditional, non-binding Memorandum of Understanding
("MoU") with Pilbara Ports to access its Utah Bulk Handling Facility, a
multiuser berth in Port Hedland. The MoU is an important step in securing the
formal commitment from Pilbara Ports to export iron ore produced from the
Company's Hancock Project.

·    The signing of a Mining Agreement with KNAC for the Hancock Project.

·    Completion of a Development Study confirming robust project economics
and prospectivity, with extensive untested stratigraphic trends for additional
iron ore deposits. Key highlights of the study were outlined in the
announcement of 8 February 2024.

·    Grant of the Mining Lease (M47/1633) for the Hancock Project.

Guy Robertson, Executive Director, commented:

"This is a further significant step on the pathway to production for the
Hancock Project. The Company has made significant progress and is now in
discussion with various parties regarding the required development funding.
The technical team is currently focused on mining proposal submission and
environmental assessment. It continues to assess strategies for increasing the
existing resources and reserves which is expected to significantly increase
the value of the project. In addition, the Company will proceed with necessary
heritage clearances."

 

 

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

 

Strand Hanson (Financial and Nominated Adviser)

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

 

WH Ireland Ltd (Broker)

Harry Ansell / Katy Mitchell   Tel: +44 (0) 207 220 1666

 

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 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 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 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 1990's.  The Company
also owns one of Australia's largest PGM deposits, Munni Munni which hosts a
deposit containing a historic resource of 2.2Moz PGM (Palladium, Platinum,
Gold, and Rhodium).

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAPLNFSDLEEA