REG - Alien Metals Limited - Pinderi Hills Project Update

Alien MetalsAnnouncement

27/08/2024 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240827:nRSa7961Ba&default-theme=true

RNS Number : 7961B  Alien Metals Limited  27 August 2024

 

Trading Symbols

AIM: UFO FWB: I3A1

 

27 August 2024

 

Alien Metals Ltd

("Alien" or "the Company")

Alien's Joint Venture Partner Identifies 6km(2) Li(2)O Soil Footprint at
Pinderi Hills

 

Alien Metals Ltd (AIM: UFO) is pleased to provide an update covering recent
activities and exploration works completed and assessed by Errawarra Resources
Ltd ("Errawarra") at its 100% owned Pinderi Hills silver and precious metals
project (the "Project" or "Pinderi Hills") in Western Australia.

As announced on 29 April 2024, Errawarra entered into a joint venture
agreement with Alien in respect of the lithium rights of the Project (the
"JV"). Recent results provided by Errawarra concerning exploration for lithium
at the Pinderi Hills Project have confirmed that the Munni Munni Mafic Complex
is highly prospective for PGE's, nickel and copper. As part of the terms of
the JV, Errawarra has a first right of refusal to acquire all the remaining
mineral rights to the Pinderi Hills nickel, copper, and platinum group metals
projects.

Highlights:

Results from over 1,000 samples collected at Pinderi Hills were received

·    Reconnaissance samples from Pinderi Hills Project confirm lithium
pegmatite potential

·    New large lithium soil footprint identified within 6km(2) area

·    Lithium trends with up to 3km strike highlighted by anomalous soil
and stream samples

·    Second anomalous lithium area highlighted by stream samples

·    Rock chip sample reports 288ppm Li(2)O with associated anomalous Cs,
Ta and Nb

·    Follow-up planning underway

 

Munni Munni Anomaly:

The results of reconnaissance samples comprising soil (926 samples), stream
sediment (190 samples) and rock chip (37 samples) undertaken on the Pinderi
Hills JV tenements have been received and assessed. The stream samples covered
the entire tenement package while the soil samples were restricted to the area
covered by tenements M47/123, 124, 125 and 126 and a portion of E47/3322. Rock
chip samples were taken when a pegmatite was identified while undertaking the
soil and stream sediment sampling programmes.

The soil samples which were taken on a 400m x 100m north-south orientated grid
have highlighted several closely related linear anomalous Li(2)O trends within
a 6km(2) footprint. These trends are highly suggestive of lithium bearing
pegmatites due to the linear and swarm characteristics of the anomalies.
Although preliminary limited on ground investigations have not identified a
cause for the anomalous sample results, a pegmatite rock chip sample located
within the anomalous zone has reported 73 ppm Li(2)O. The stream sediment
samples associated with the lithium soil anomalism in this area have also
reported anomalous Li(2)O

values which complements the soil results and further highlights the
prospectivity of this area within the project tenements.

 

Figure 1: Pinderi Hills Joint Venture Tenements - provided by Errawarra

Figure 2: Lithium Footprint showing Linear Trends - provided by Errawarra

 

Figure 3. Location of Soil and Stream Sampling Programs - provided by
Errawarra

 

Maitland Lithium Anomaly:

Three spatially related stream sediment samples located on the margin of the
Maitland Mafic Intrusion and 10km northeast of the Munni Munni lithium anomaly
have also reported Li(2)O greater than 50ppm Li(2)O (Figure 1). This result is
anomalous for the streams in this region and follow-up of this anomalous area
by further stream sediment or soil samples is to be undertaken.

Anomalous Rock Chip Sample:

A sample from possible pegmatite located 6km due east of the Munni Munni
lithium anomaly has reported 288ppm Li(2)O along with associated elevated Cs,
Ta and Nb which is characteristic of a LCT pegmatite. Follow-up of this
anomalous rock chip sample will be a priority.

Next steps:

The first pass sampling program which covered the entire tenement package of
175 km(2) has provided encouraging results and confirmed the lithium fertility
of the JV tenements. Follow-up work programs will initially focus on resolving
the larger Munni Munni lithium soil trends as well as following-up the
Maitland anomalous lithium stream anomaly and the isolated anomalous lithium
pegmatite sample that reported 288 ppm Li(2)O and associated pathfinder
elements.

Robert Mosig, Non-Executive Director, commented:

"This is a pleasing start to the exploration programmes at Pinderi Hills.
Errawarra is a valued joint venture partner and we look forward to further
positive lithium exploration results as the work programmes are implemented.

"Importantly, the data being gathered by Errawarra, at no cost to Alien, will
continue to provide the Company essential information that will assist in the
analysis and drill targeting for silver, base and precious metals."

 

Competent Person Statement

 

The information in this announcement relating to the Project is based on
information compiled by Thomas Reddicliffe, BSc (Hons), MSc, Fellow of the
AUSIMM (Director of Errawarra Resources Limited) and has been reviewed by Mr.
Bradley Toms who is the Exploration Manager and a full time employee of Alien
Metals Ltd. Mr. Toms is a Member of The Australian Institute of Geoscientists
and has sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity that he is
undertaking, to qualify as Competent Person as defined in the 2012 Edition of
the "Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves". Mr. Toms consents to the inclusion in the announcement of
the information in the form and context in which it appears. Mr Toms has
declared that he holds Performance Rights in the Company.

 

 

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

 

 

Alien Metals Limited
Guy Robertson

GR@alienmetals.uk (mailto:GR@alienmetals.uk)

Tel: +61 (0) 407 983 270

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

alienmetals@yellowjerseypr.com

 

 

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 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 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  UPDEAKPXADDLEEA