REG - Alien Metals Limited - Silver & Precious Metals Exploration Planned Works

Alien MetalsAnnouncement

30/10/2024 07:00

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RNS Number : 1982K  Alien Metals Limited  30 October 2024

Trading Symbols

AIM: UFO

FWB: I3A1

30 October 2024

Alien Metals Ltd

 

("Alien" or "the Company")

 

 Alien commences Silver and Precious Metals Exploration at Pinderi Hills,
Australia

 

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company,
is pleased to provide an update covering recent activities and planned
exploration works for the next six months at its Pinderi Hills silver and
precious metals project ("Project" or "Pinderi Hills") in Western Australia.

Highlights

·  Initial works will involve ground geophysics, downhole geophysics, soil
sampling and detailed geological interpretation over two key high-grade areas
of the Munni Munni +2Moz PGM resource.

·     These works have commenced with results to follow within two
months.

·   As part of the geological review, the Company has located 100
additional drill holes, both drill core and reverse circulation, for around
10,000m of extra drilling that was not previously known.

·    These drill holes now form part of the main database and will be
reviewed for any additional occurrences of silver and precious metals
anomalism.

·    Dr Jayson Myers, who has been involved in several major discoveries
in Western Australia, is continuing to assist the technical and exploration
team.

·    With the increase in the silver price, the Company has received
substantial corporate interest in the Elizabeth Hill Silver Mine, which at the
time of its operation was Australia's highest-grade silver mine.

 

Robert Mosig, Technical Director, commented:

"The Company's geologists and consultants have researched and prepared
concrete plans for the continued exploration and development of Pinderi Hills.
With lithium exploration at Pinderi Hills now under the guidance and expertise
of a joint venture with partner Errawarra Resources Pty Limited, Alien can
focus on the advancement and development of the PGM and Silver resources in
this strategic tenure."

 

Pinderi Hills

The West Pilbara region of Western Australia hosts significant and world-class
mineral resources. Recent discoveries have included the giant lithium
discovery at Andover, part-owned by the Chilean company SQM (Sociedad Química
y Minera de Chile SA) (NYSE: SQM) ("SQM") and the De Grey Mining Ltd +10Moz
Hemi Gold Project.

Within this mineral-rich area, Alien has 180km(2) of tenure that has the
potential to host additional significant precious metal mineralisation.

Figure 1: West Pilbara high potential areas for Ni-Cu-PGM sulphide deposits
with the focus on Munni Munni Complex (Geoscience Australia, 2016)

Previous announcements by the Company during 2024(3), have reported on work
completed to allow a baseline study of geological information to establish a
solid foundation of evidence-based geology and precious metal anomalism on
which to advance the Project.

This work is now complete, and the Company is advancing towards its goal of
identifying a significant new precious metals discovery at Pinderi Hills. As
part of the geological review, the Company has located some 100 drill holes,
both drill core and reverse circulation, for around 10,000m of extra drilling
that was not previously known. The discovery of this drilling, geological and
assay information was located by the company's geologists during an intensive
review and validation of all old drilling reports that had been submitted to
the Department of Energy, Mines, Industry Regulation and Safety.

As part of the Company's efforts to focus on precious metals, the lithium
rights were placed into a joint venture with Errawarra Resources Pty Ltd and
this has already had success as seen in the announcement.

Alien's Joint Venture Partner Identifies 6km(2) Li(2)O Soil Footprint at
Pinderi Hills, 27 August 2024(3)

Upcoming works

The Company, working with retained consultants including Dr Jason Myers, has
determined that there are five main areas within the Pinderi Hills Project to
focus on over the coming months:

A.    Cadgerina Dyke

B.    Judy's Reef

C.    Munni Munni Fault system

D.    PGM high grade 1 and PGM high grade 2, within the known extensive
mineral resource area at Munni Munni

E.    Elizabeth Hill Silver Mine and potential extensions

 

A - The Cadgerina Dyke is an area of known precious metal anomalism from
existing soil sampling. It is interpreted as a feeder conduit for the main
Munni Munni layered ultramafic complex. These types of conduits can host
significant sulphide-hosted metal deposits.

The Company sees the Cadgerina Dyke as a significant exploration opportunity
due to its proximity to the main Munni Munni PGM resource and due to the lack
of drilling as previous explorers were focused predominantly on the existing
PGM resource.

The Cadgerina Dyke area, as seen in Figures 3 and 4, is under an area of
alluvial cover, hence prospecting-style work has less chance of observing
significant mineralisation.

B - Judy Reef is an area extending from the high-grade Elizabeth Hill silver
mine down the eastern edge of the ultramafic/granite contact. The PGM and
copper anomalism in this reef is interpreted as being in the lower, more
prospective, basal parts of the Munni Munni intrusion. There is silver
anomalism along the Judy's Reef Zone which is being explored in conjunction
with the other precious metals.

C - Munni Munni Fault system is the area along the Munni Munni fault pair as
seen in Figure 2. The Munni Munni eastern fault has both the Elizabeth Hill
and high-grade PGM resources along it. Combined, these faults represent a
large, structurally controlled, mineralised corridor that has had little work
completed over it previously as prior owners of the tenements had focused on
the known mineralised areas and completed very little step-out exploration.

D - PGM high grade 1 and PGM high grade 2 zones are recognised by having
multiple, above 5g/t PGM3, intersections in historic drilling. The overall
grade of the Munni Munni PGM resource is 2.9g/t PGM3. Of note though are the
two areas highlighted in Figure 2 that have multiple intercepts in core
drilling above 5g/tPGM3. Both high-grade zones are associated with prominent
north-northeast trending faults. More interpretive geological work will be
completed in these areas to generate an exploration model and to target
possible future drilling in these areas.

E - Elizabeth Hill Silver mineralisation is exceptional at the historic
Elizabeth Hill silver mine. Elizabeth Hill was Australia's highest-grade
silver mine and produced over 1Moz of silver when in production. Further work
will be completed to target extension of the silver and in particular its
association with the Munni Munni Fault, which has minimal exploration along
its considerable strike length. There is also silver anomalism to follow up
along the Judy Reef area.

These five zones of interest are all potentially associated with discoveries
of new or higher-grade mineralisation within known mineralisation. The Company
intends to maximise technology and obtain maximum benefit from all information
collected to make informed, and geologically supported decisions for when
drilling commences.

1/ 2004 JORC compliant

2/ Global Strategic Metals NL, Annual Technical Report 2014, non-JORC 2012
compliant

    1moz of the resource has been mined up until 2000-2001

3/ Pinderi Hills Lithium Joint Venture, 29 April 2024

   Independent review of Silver & Ni-PGM's at Pinderi Hills, Australia,
30 May 2024

   Pinderi Hills Update - Commencement of Exploration Work, 20 June 2024
(Lithium focused)

   Alien's Joint Venture Partner Identifies 6km(2) Li2O Soil Footprint at
Pinderi Hills, 27 August 2024 (Lithium focused)

 

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

 

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

 

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 its 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 offer 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).

Competent Person's Statement

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.

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