REG - Alien Metals Limited - New high-grade ridge targets defined at Hancock

Alien MetalsAnnouncement

30/03/2022 07:00

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RNS Number : 4673G  Alien Metals Limited  30 March 2022

 

 

Trading Symbols

AIM: UFO

FWB: I3A1

OTC:ASLRF

30 March 2022
 
 
 

 

Alien Metals Ltd

("Alien" or "the Company")

 

A further 3km of new high-grade ridge targets defined at Hancock Iron Ore
Project

 

Follow the link to view the announcement in full including all figures:
http://www.rns-pdf.londonstockexchange.com/rns/4673G_1-2022-3-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4673G_1-2022-3-29.pdf)

 

Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development
company, is pleased to provide an update on the Company's Hancock Iron Ore
Project, part of its Hamersley Iron Ore Project, Western Australia, further to
its announcement of 2 March 2022.

 

Highlights

 * Results from a recent rock chip sampling programme conducted at part of the
Hancock Phase 3 drilling has confirmed the potential for additional DSO grade
Fe mineralisation at surface

 * During the programme, 67 rock chip samples were taken across newly identified
target areas with 25 samples returning assays of greater than 60% Fe and with
an average grade of 63% Fe

 * The programme highlights excellent continuity of potential high-grade zones
with at least 5 new high-grade ridge targets defined

 * In total, over 3km strike length of new drill targets have been identified and
the results further support the Company's belief of repeat high-grade ridges
across the Hancock Project

 * None of these newly identified targets have yet been drill tested

 

Bill Brodie Good, Chief Executive Officer & Technical Director of Alien
Metals, commented: "Ongoing exploration across the Hancock Project continues
to deliver outstanding results. To have identified further potential
high-grade ridges is very encouraging and, once the weather permits, we will
aim to continue our programme of drill testing.

 

"The Company's iron ore assets in Australia are progressing very rapidly. At
Hancock, the bulk sample testing is nearing completion and the work programme
to secure the necessary permits in getting the project shovel-ready remains
ongoing. Across at the Brockman Project, planning of our maiden drill
programme has been completed and we are looking forward to testing the project
during the next field season."

 

Further to the announcement of the 12 January 2022, the Company now has the
laboratory results of the 67 rock chip samples taken on the untested western
and central parts of ridges F, G and H while the team was in the field working
on the third drilling phase. The initial results as reported were already very
positive and these completed full analysis results cement the early
interpretation and give the Company numerous new drill targets to test.

 

Of the 67 samples taken, 25 returned assays greater than 60% Fe (with an
average of 63% Fe).

 

These significant new high-grade green iron ore values are excellent and
continue to show the untapped potential of the project. Furthermore, these are
not isolated results but in almost all cases show continuous high-grade strike
lengths on all ridges tested, which the Company believes could represent new
localised resources, similar to those already defined on ridges C and E. The
similarity of the high-grade extensions to what has already been defined is
also highly encouraging and the Company is now planning the next phase of
drilling to turn these surface targets into potential new resources.

 

The deleterious elements from the results are also all within acceptable range
to not affect the overall grade and potential of these targets.

 

There are three 1400m+ high-grade targets on ridge F, two targets on ridge G
of 900m and 600m, and significantly there still remains 6.5 kilometres of
ridge to test on G and H. It is also worth noting that the ridge E resource is
approximately 800m long at this stage, containing well over 1Mt of high-grade
iron ore, while the ridge C resource is even shorter at 650m and also contains
over 1Mt of high-grade material. As such, having a further 3km of highly
prospective targets still in the central western area of the tenement
illustrates the excellent progress thus far. Figure 3 below demonstrates part
of the F Ridge anomaly in relation to the existing E Ridge resource outline.

 

Table 1: Summary of high-grade results, rock chip sampling, Hancock Iron Ore
Project, March 2022

 

 Sample Nbr  Fe     Al2O3  K2O        MgO   Na2O       P      SiO2
 WPT543      60.39  2.12   0.006      0.06  0.014      0.124  4.17
 WPT544      62.47  1.76   0.003      0.07  0.01       0.097  2.64
 WPT545      65.4   1      0.011      0.32  0.16       0.085  2.33
 WPT548      61.01  0.33   0.004      1.11  0.007      0.056  1.77
 WPT549      55.87  0.26   0.002      0.05  0.008      0.074  13.25
 WPT550      63.42  1.64   0.003      0.07  <0.005     0.08   2.99
 WPT551      63.46  1.22   0.002      0.08  0.005      0.081  2.57
 WPT552      63.64  1.07   0.001      0.05  <0.005     0.091  1.96
 WPT557      61.32  0.83   0.004      0.04  0.011      0.273  6.76
 WPT569      63.74  0.69   0.004      0.01  <0.005     0.162  2.05
 WPT570      62.3   0.95   0.002      0.01  <0.005     0.168  2.27
 WPT572      60.63  0.85   0.001      0.02  <0.005     0.252  4.61
 WPT592      62.06  0.54   <0.001     0.01  <0.005     0.208  3.22
 WPT593      64.21  1.45   0.002      0.02  <0.005     0.07   2.66
 WPT594      62.94  1.38   0.003      0.02  <0.005     0.142  2.69
 WPT595      64.62  0.91   0.009      0.03  <0.005     0.161  1.59
 WPT607      64.22  1.34   0.004      0.03  <0.005     0.044  3.5
 WPT608      62.16  1.72   <0.001     0.03  <0.005     0.178  2.49
 WPT609      64.26  0.46   0.001      0.01  0.01       0.108  1.26
 WPT610      63.66  0.8    0.011      0.02  0.007      0.156  1.76
 WPT629      64.72  1.36   0.006      0.02  0.007      0.15   2.51
 WPT631      62.01  1.46   0.011      0.03  0.005      0.071  5.86
 WPT632      62.69  1.36   0.002      0.02  <0.005     0.105  2.1
 WPT636      60.1   0.77   0.003      0.03  0.009      0.142  8.69
 WPT637      65.52  1.18   0.005      0.04  0.007      0.095  2.31
 WPT638      64.99  0.89   0.009      0.11  0.009      0.079  2.02

 

See Appendix 1 for the full set of results

 

The Company is very pleased with this continued positive exploration work and
will continue to develop all these targets as well as new untested ground in
the coming months.

 

Brockman

Maiden drilling on the Brockman tenement is now in final planning and the
Company hopes to carry out its maiden drilling on Brockman in the coming
months.

 

Further updates will be provided in due course as appropriate.

 

Figure 1: Location of Hancock Iron Ore Project, Western Australia

 

Figure 2: Location and results of rock chip sampling programme, Hancock Iron
Ore Project, Western Australia, March 2022

 

Figure 3: Detail of rock chip samples and Iron Ore Grades (%), part of Ridge
F, Hancock Iron Ore Project, March 2022 - (Note relative size of Ridge E
Resource)

 

Figure 4: Detail of rock chip samples and Iron Ore Grade, Ridge G, Hancock
Iron Ore Project, March 2022

 

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

 

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

(via St-James' Corporate Services, Company Secretary)

Tel: +44 (0) 203 811 2144

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

 

 

Turner Pope Investments (TPI) Limited (Joint Broker)

Andrew Thacker / James Pope

Tel: +44 (0) 20 3657 0050

 

WH Ireland Ltd (Joint Broker)

Harry Ansell / Katy Mitchell

Tel +44 (0) 207 220 1666

 

Yellow Jersey PR (Financial PR)

Sarah Hollins / Annabel Atkins / James Lingfield

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 March 2022 the Company acquired 100% of the former 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 an 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.

 

Competent Person

The information in this announcement which relates to Exploration Targets,
Exploration Results and the Scoping Study has been approved by Mr. Allen
Maynard, who is a Member of the Australian Institute of Geosciences ("AIG"), a
Corporate Member of the Australasian Institute of Mining & Metallurgy
("AusIMM") and independent consultant to the Company. Mr. Maynard is the
Director and principal geologist of Al Maynard & Associates Pty Ltd and
has over 40 continuous years of exploration and mining experience in a variety
of mineral deposit styles. Mr. Maynard has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2012 Edition of the "Australasian Code for
reporting of Exploration Results, Exploration Targets, Mineral Resources and
Ore Reserves" (JORC Code). Mr. Maynard consents to inclusion in the
announcement of the matters based on this information in the form and context
in which it appears.

Glossary:

Mineral Resource - A concentration or occurrence of solid or liquid material
of economic interest in or on the Earth's crust in such form, grade (or
quality), and quantity that there are reasonable prospects for eventual
economic extraction.  The location, quantity, grade (or quality), continuity
and other geological characteristics of a Mineral Resource are known,
estimated or interpreted from specific geological evidence and knowledge,
including sampling.  Mineral Resources are sub-divided, in order of
increasing geological confidence, into Inferred, Indicated and Measured
categories.

Inferred Mineral Resource - that part of a Mineral Resource for which quantity
and grade (or quality) are estimated on the basis of limited geological
evidence and sampling.  Geological evidence is sufficient to imply but not
verify geological grade (or quality) continuity.  It is based on exploration,
sampling and testing information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes.  An
inferred Mineral Resource has a lower level of confidence that that applying
to an Indicated Mineral Resources and must not be converted to an Ore
Reserve.  It is reasonably expected that the majority of Inferred Mineral
Resources could be upgraded to Indicated Mineral Resources with continued
exploration.

Reverse Circulation Drilling - Often referred to as RC drilling, is a method
of drilling which uses dual wall drill rods that consist of an outer drill rod
with an inner tube. These hollow inner tubes allow the drill cuttings to be
transported back to the surface in a continuous, steady flow. Drill results
using this method with adequate QA/QC can be used in Mineral Resource
Calculations

DSO - Direct Shipping Ore

Deleterious Elements - Elements that can be detrimental to the overall
product, such as Phosphorus.

Green Iron Ore - High Grade > 60% Iron Ore needing lease processing for
manufacture of steel

Fe - Iron

Al - Aluminium

Ca - Calcium

K - Potassium

Mg - Magnesium

Mn - Manganese

Na - Sodium

P - Phosphorus

S - Sulphur

Si2O3 - Silica

Mt - Million Tonnes

BIF - Banded Iron Formation

 

 

Appendix

 Sample Nbr  Fe     P      SiO2    Al2O3
 WPT541      59.63  0.101  6.19    2.96
 WPT542      38.69  0.047  41.8    0.93
 WPT543      60.39  0.124  4.17    2.12
 WPT544      62.47  0.097  2.64    1.76
 WPT545      65.4   0.085  2.33    1
 WPT546      37.42  0.035  44.4    0.73
 WPT547      35.42  0.054  47.4    0.41
 WPT548      61.01  0.056  1.77    0.33
 WPT549      55.87  0.074  13.25   0.26
 WPT550      63.42  0.08   2.99    1.64
 WPT551      63.46  0.081  2.57    1.22
 WPT552      63.64  0.091  1.96    1.07
 WPT553      45.49  0.079  31.6    1.1
 WPT554      48.16  0.078  25.5    1.73
 WPT555      50.04  0.071  21.6    2.69
 WPT556      58.61  0.108  10.85   0.65
 WPT557      61.32  0.273  6.76    0.83
 WPT560      35.2   0.054  47.6    0.61
 WPT561      37.92  0.048  44.3    0.41
 WPT563      54.07  0.129  18.05   0.58
 WPT564      47.07  0.148  27.7    0.6
 WPT565      47.19  0.083  30.5    0.57
 WPT566      55.21  0.092  6.39    3.36
 WPT567      40.16  0.089  39.5    0.58
 WPT568      41.75  0.136  36.2    0.47
 WPT569      63.74  0.162  2.05    0.69
 WPT570      62.3   0.168  2.27    0.95
 WPT571      58.77  0.277  5.8     1.06
 WPT572      60.63  0.252  4.61    0.85
 WPT573      41.82  0.145  31.2    2.55
 WPT574      29.79  0.058  55.1    0.65
 WPT575      34.32  0.049  49.5    0.29
 WPT576      40.74  0.142  38.6    0.79
 WPT577      39.59  0.051  41.7    0.35
 WPT592      62.06  0.208  3.22    0.54
 WPT593      64.21  0.07   2.66    1.45
 WPT594      62.94  0.142  2.69    1.38
 Sample Nbr  Fe %   P %    SiO2 %  Al2O3 %
 WPT595      64.62  0.161  1.59    0.91
 WPT596      54.78  0.084  17.8    0.97
 WPT597      50.7   0.037  25.7    0.46
 WPT598      47.19  0.066  28.8    0.45
 WPT607      64.22  0.044  3.5     1.34
 WPT608      62.16  0.178  2.49    1.72
 WPT609      64.26  0.108  1.26    0.46
 WPT610      63.66  0.156  1.76    0.8
 WPT611      47.47  0.145  27.7    0.75
 WPT612      36.18  0.038  46.4    0.52
 WPT613      52.03  0.067  22.1    0.42
 WPT615      56.18  0.066  8.42    2.8
 WPT626      54.29  0.056  19.3    1.02
 WPT627      46.44  0.079  28.3    0.92
 WPT628      64.72  0.15   2.51    1.36
 WPT629      56.97  0.115  11.9    0.71
 WPT630      62.01  0.071  5.86    1.46
 WPT631      62.69  0.105  2.1     1.36
 WPT632      58.69  0.056  11.8    0.74
 WPT633      55.82  0.048  16.4    0.83
 WPT634      45.52  0.077  30.8    0.93
 WPT635      60.1   0.142  8.69    0.77
 WPT636      65.52  0.095  2.31    1.18
 WPT637      64.99  0.079  2.02    0.89
 WPT638      57.42  0.091  14.1    0.5
 WPT639      29.04  0.059  55.3    0.58
 WPT640      46.14  0.074  31.2    0.66
 WPT644      43.2   0.152  26      3.98
 WPT645      43.28  0.196  30.3    1.38
 WPT646      41.53  0.089  35.4    1.84

 

 

 

 

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