REG - Alien Metals Limited - Potential for Direct Ship Iron Ore

Alien MetalsAnnouncement

02/08/2023 09:00

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RNS Number : 0561I  Alien Metals Limited  02 August 2023

 

Trading Symbols

AIM: UFO

FWB: I3A1

2 August 2023
 

 

Alien Metals Ltd

("Alien" or "the Company")

 

Potential for Direct Ship Iron Ore identified at the Hancock Project

 

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development
company, is pleased to announce that its wholly-owned subsidiary Iron Ore
Company of Australia Pty Ltd (IOCA) has completed initial investigations into
the potential for Direct Ship Ore (DSO) at tenement E47/5001 (the Mallina
Tenement) which adjoins the existing Hancock Project.

Highlights

·    Historic high grade rock chip sample of greater than 60% Fe
evidencing the significant potential for exploration upside on the tenement

·    The eastern area of the tenement shares a comparable geological
setting as the Weeli Wolli (IOCA's Ridges C and E ore body) iron ore
formations

·    Areas of the tenement share a comparable geological setting to the
Boolgeeda (IOCA's Sirius Extension Deposit) iron ore formation

·   The Hancock Ridge H that has provided rock chip samples of greater
than 60% Fe continues into the Mallina Tenement for several kilometres

Troy Whittaker, Chief Executive Officer commented:

"The Mallina acquisition has not only provided security of access from the
Company's flagship Hancock Project site to the Great Northern Highway, but it
has also shown it may have the potential to significantly increase the
resource footprint of IOCA within the region.

"IOCA now has a total strategic landholding of over 75.6km(2) (7565 hectares)
at the Hancock Project, situated within one of the preeminent iron ore
producing regions of the world and we look forward to continuing to unlock the
untapped potential of our landholding for shareholders".

 

 

Further Information

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

The Company, through its wholly owned subsidiary IOCA, acquired Mallina
Exploration Pty Ltd (Mallina) in May 2023 (see RNS 5 May 2023). This tenement
is currently under application with the Department of Mines, Industry
Regulation and Safety, Western Australia. This purchase facilitated the
fast-track acquisition of the Mallina Tenement (E47/3752) that adjoins the
Hancock Tenement (E47/3954) and allows for future development of access to
IOCA's 1.9Mt @ 60.2% Fe Mining Reserve (9.1Mt @ 60.3% Fe Mineral Resource)
over 100% IOCA controlled tenements from the Hancock Tenement to the Great
Northern Highway.

The Mallina Tenement shares comparable geological settings (see figure 3) to
that of the Hancock Tenement which includes the prospective Boolgeeda (Sirius
and Sirius Extension Deposits) and Weeli Wolli (Ridges C and E) iron ore
formations that ICOA's current JORC compliant resources and reserves are
contained within.

There has been an absence of detailed exploration on the Mallina Tenement for
many years and IOCA sees this lack of historic exploration on the tenement as
a strong exploration opportunity in their search for high grade DSO iron ore.
There are currently 2 high priority target areas for DSO exploration, and
these are detailed below.

Geological Target No. 01

The Company's geologists have interpreted a significant area of exploration
interest in the southeastern part of the Mallina Tenement. This is an area
where previous rock chips have returned Direct Ship Ore (DSO) grade material.

Significantly, the Company's current geological model interprets this target
area as having the same geological units (Boolgeeda Formation) as that found
at the Company's Sirius Extension JORC Resource (6.7Mt @ 60.1% Fe) which is an
extension of the 124Mt @ 60.3% Fe Sirius Mineral Resource of Brockman Mining
Limited.

The Boolgeeda formation hosts significant high grade DSO style mineralisation.
The Company has reviewed aerial imagery, digital terrain models and air
magnetic imagery to interpret a significant area of the prospective Boolgeeda
iron formation, at surface, on plateaus (figure 2) forming several kilometre
long outcrops at within the Mallina Tenement.

Historical rock chip sampling supports this interpretation as shown in figure
2 where samples taken include one high Fe content sample in excess of 60% Fe.

Table 1 - Historical Rock Chip Results from Mallina Tenement (Source: Brockman
Resource Ltd, April 2012)

 Sample_ID  East    North    RL   Fe %
 117376     773029  7426199  667  58.17
 117380     774880  7425398  673  57.02
 117381     774874  7425392  674  56.26
 117382     774868  7425385  673  55.22
 117385     774859  7425369  672  55.19
 117386     775206  7425245  656  59.51
 OPH103     774568  7425558  661  60.69

 

Figure 2: Prospective Boolgeeda Iron formation outcrops in the Mallina
Tenement

Geological Target No. 02

IOCA has multiple prospective ridges that extend from within the existing
Hancock Project tenure onto the Mallina Tenement. These ridges are interpreted
as being part of the Weeli Wolli Formation that hosts the high-grade DSO
mineralisation at Ridge C and Ridge E (combined Mining Reserves of 1.9Mt @
60.2% Fe).

Figure 3 below highlights the ridges extending onto the Mallina Tenement,
which includes the extension of Ridge H where IOCA has previously recorded
high grade DSO samples from as well as the aforementioned Geological Targeted
Weeli Wolli Formations.

 

Figure 3: Interpreted bedrock geology suggests outstanding geological
potential on the Mallina Tenement

 

Hancock Project JORC Reserves and Resources (see RNS 26 April 2023)

 

Table 2 - Hancock Project Ore Reserves

 Material  Tonnes (Mwmt)  Volume (Mbcm)  Fe %   SiO2 %  Al2O3 %  P %   LOI %  Mn %
 Proved
 Probable  1.9            0.7            60.16  5.69    3.54     0.12  3.85   0.02
 Total     1.9            0.7            60.16  5.69    3.54     0.12  3.85   0.02

 

Table 3 - Hancock Mining Inventory

 Material      Tonnes (Mwmt)  Volume (Mbcm)  Fe %   SiO2 %  Al2O3 %  P %   LOI %  Mn %
 Unclassified  4.2            1.6            60.51  4.11    3.53     0.15  4.74   0.04
 Total         4.2            1.6            60.51  4.11    3.53     0.15  4.74   0.04

 

Table 4 - Mineral Resource

 Classification Category  Prospect          Mass (million tonnes)  Average Value
                          Fe %                                     SiO2 %       Al2O3 %  P %   LOI %  Mn %
 Indicated                Sirius Extension
                          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                      1.7                    61.0    5.1  3.29     0.12  3.5    0.02
 Inferred                 Sirius Extension  6.7                    60.1    4.1  3.71     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    0.03
 Sub Total - Inferred                       7.4                    60.1    4.2  3.67     0.17  5.2    0.05
 Total                                      9.1                    60.3    4.3  3.60     0.16  4.9    0.04

Competent Persons Statements

The information in this report relating to Ore Reserves is based on
information compiled by Mr Jeremy Peters, a Director of Burnt Shirt Pty Ltd, a
Fellow of The Australian Institute of Mining and Metallurgy (AUSIMM) and
Chartered Professional Geologist and Mining Engineer of that organisation who
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. Peters consents to the inclusion in the document of the
information in the form and context in which it appears.

The information in this report that relates to the Hancock Mineral Resources
is based on information compiled by Mr Howard Baker, a Competent Person who is
a Fellow of the Australasian Institute of Mining and Metallurgy and is
employee by Baker Geological Services Ltd. Mr Baker has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which they are undertaking to qualify as a
Competent Person as defined in the 2012 edition of the Australasian Code for
the Reporting of Exploration Results, Mineral Resources, and Ore Reserves
(JORC Code). Mr Baker consents to the disclosure of information in this report
in the form and context in which it appears.

The information in this announcement that relates to Exploration Results, is
based on information compiled 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 document 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, or contact:

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd (Joint Broker)

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

 

BlytheRay (Financial PR)

Tim Blythe / Megan Ray / Said Izagaren Tel: +44 (0) 20 7138 3204

 

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
delivering a profitable, long life direct shipping iron ore operation based
out of the Pilbara in Western Australia. In 2019, the Company acquired 51% of
the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore
projects and in December 2022 moved to 90% legal and beneficial ownership. The
Company also acquired 100% of the Vivash Gorge Iron Ore project in the west
Pilbara in July 2022.

The Company acquired 100% of the Elizabeth Hill Silver Project, which consists
of the Elizabeth Hill Historic Mining Lease and the 115km(2) exploration
tenement around the mine.

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.

In May 2023, the Company acquired 100% of Mallina Exploration Pty Ltd and with
it, the Western Hancock Tenement. The new tenement adjoins the Company's
existing Hancock tenement, giving the entire Hancock project direct access to
the Great Northern Highway.

The Company also holds silver, copper and base metal projects in various
locations around the world however is currently looking at the best way to
divest these for the benefit of shareholders.

Competent Person Statement

The information in this announcement that relates to exploration, is based on
information compiled 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 document of the information in the form and context in which
it appears. Mr Toms has declared that he holds Performance Rights in the
Company.

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.

DSO - Direct Shipping Ore

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

 

 

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