REG - Alien Metals Limited - Phase 4 resource drilling underway at Hancock

Alien MetalsAnnouncement

27/05/2022 07:00

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RNS Number : 0014N  Alien Metals Limited  27 May 2022

 

Trading Symbols

AIM: UFO

FWB: I3A1

27 May 2022
 
 
    OTC: ASLRF

 

 

 

 

 

 

 

Alien Metals Ltd

("Alien" or "the Company")

 

Phase 4 resource drilling underway at the Hancock Iron Ore Project

 

Follow the link to view the announcement in full including all figures:
http://www.rns-pdf.londonstockexchange.com/rns/0014N_1-2022-5-26.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0014N_1-2022-5-26.pdf)

 

Alien Metals Ltd (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.

 

Highlights

·    A Reverse Circulation (RC) drilling programme totalling ~2,100 metres
aimed to further increase geological confidence in the existing JORC compliant
Inferred Mineral Resource Estimate (MRE) of 10.4Mt @ 60.4% Fe (see
announcement dated 22 September 2021) is underway

·    Following receipt of assays from the Phase 4 programme, Alien aims to
upgrade a portion of the MRE to indicated status (covering ridges C and E),
which would support upcoming mine planning

·    Initial drill testing will be undertaken across the ~3km strike
length of targets on ridges F and G, which were recently defined from surface
sampling (see announcement dated 2 March 2022)

·    Alien to undertake detailed mapping and sampling of newly identified
targets at Hancock following recent site visit by Chief Executive Officer,
Bill Brodie Good and Competent Person, Howard Baker

 

Bill Brodie Good, Chief Executive Officer & Technical Director of Alien
Metals, commented: "The phase 4 RC drilling programme at Hancock is now
underway. This programme has two key aims - to upgrade confidence in the
existing Mineral Resource Estimate (MRE) to convert a portion of the MRE to an
indicated status, and to define a maiden MRE over a portion of ridges F and G.

 

"Following the recent site visit by our CP, Howard Baker, we have further
increased our confidence in this exciting project. We have delivered a robust
DSO grade resource in a relatively short time frame, and we see significant
scope to further grow the resource that will help to underpin a future mining
operation. The permitting and baseline studies continue to progress well and
the team is very excited about the way the Hanock project is shaping up".

 

Alien has commenced a 70 hole 2,100m RC drill programme which will initially
focus on ridges C and E before moving on to ridges F and G. The infill
drilling at ridges C and E aims to convert a significant portion of the
existing JORC compliant inferred resource to an indicated status. Most holes
are planned between 15-25m depth, focused on the DSO grade material. At ridges
F and G,  wide spaced exploration drilling will be carried out along the 3km
strike length of high grade surface sampling results. The Company hopes that
this maiden drill programme will be sufficient to declare a maiden JORC
resource over these ridges.

 

The surface sampling undertaken at ridges F and G earlier this year consisted
of 67 samples, with 25 returning assays greater than 60% Fe (with an average
of 63% Fe). This programme led to defining a further 3km of highly prospective
iron ridges.

 

In conjunction with the phase 4 drilling programme, the Company will carry out
more surface mapping and sampling on the remaining 6.5 kilometres of strike
length to test on ridges G and H, as well as moving in the central and eastern
areas of the tenement to begin first pass exploration.

 

 

Brockman

The Programme of Work (POW) for a maiden drilling programme on the Brockman
tenement has recently been approved. The Alien technical team is finalising
the drill planning ahead of the maiden drilling programme at Brockman in Q3.

 

Further updates will be provided in due course as appropriate.

 

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

 

Figure 2: Location of planned Phase 4 in-fill drill holes, Ridges C and E,
Hancock Iron Ore Project, May 2022

 

Figure 3: Location and results of rock chip sampling programme, Hancock Iron
Ore Project, Western Australia, March 2022

 

Figure 4: Location of planned exploration drilling on new targets of Ridges F
and G, May 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

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 a historic deposit containing 2.2Moz 4E PGM:
Palladium, Platinum, Gold, Rhodium.

 

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

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