REG - Alien Metals Limited - Twelve near mine high-priority targets defined

Alien MetalsAnnouncement

05/08/2025 12:45

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RNS Number : 0780U  Alien Metals Limited  05 August 2025

 

Trading Symbols

AIM: UFO

FWB: I3A1

05 August 2025

 

Alien Metals Limited

("Alien" or the "Company")

 

Twelve near mine high-priority targets defined at Elizabeth Hill

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to report that its joint venture partner, West Coast Silver Limited (ASX: WCE) (formerly Errawarra Resources Limited), has announced 12 near mine high priority targets at the Elizabeth Hill Silver Project ("Elizabeth Hill" or the "Project") in the Pilbara region of Western Australia. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by WCE.
Highlights:

•   Exploration targeting to date has identified 12 high-priority ranked
near mine targets based on integrated geophysics, geochemistry, and geological
data.

•   Some of the near mine targets include historical high-grade silver
intersections from historical drill holes including:

•    2m at 1,550g/t Ag from 108m downhole depth in AMEHRC012.

•    1m at 250g/t Ag from 118m downhole depth in AG43.

•   A comprehensive and ongoing exploration targeting project integrating
legacy and recently collected data sets, including geochemistry, reprocessed
geophysics and geological data has highlighted significant exploration
targets.

•   Reinterpretation of structural controls using reprocessed magnetic
data has defined the key role of the Munni Munni fault and granite/ultramafic
contact in hosting silver mineralisation.

•   An additional 8 near mine and regional targets were identified, which
are less advanced and pending geochemical results to be returned from the
analytical laboratory.

•   Next steps include detailed geological mapping, drilling of priority
anomalies, trenching of ultramafic/granite contact and expansion of
geochemical, geophysical and mapping coverage.

 

The Company is pleased to announce that following the assessment of the
prospectivity within the historical mine environment (AIM: 16 July 2025
(https://www.londonstockexchange.com/news-article/UFO/exceptional-silver-assays-from-drill-holes-at-eh/17136983)
), WCE has completed an integrated near mine and regional targeting study at
the Elizabeth Hill Silver Project, located near Karratha in Western Australia.

The study, led by independent consultants ERM (formally CSA Global), has
significantly enhanced the understanding of structural controls and silver
mineralisation potential across the project area, identifying numerous
high-priority near mine exploration targets for immediate testing.

 

Robert Mosig, Technical Director, commented:

"The latest detailed targeting efforts by our JV partner, WCE, have greatly
enhanced our confidence in the broader potential of the Elizabeth Hill Silver
Project.

 

"Following WCE's recent highly successful capital raise, the project is well
positioned to rapidly commence testing these high-priority targets -
especially those near the historic mine. By integrating multiple datasets, we
have established a clear plan to explore for additional silver occurrences."

 

Integrated Targeting Study

The integrated targeting study has delivered significant advancement in West
Coast Silver's geological understanding of the Elizabeth Hill Silver Project.

 

Data sets investigated in this study include:

•   Historical near mine and regional drill hole data;

•   Historical soil, multi-element geochemical data;

•   WCE rock chip and float sample multi-element geochemical data;

•   Review of historical trench geochemical data; and

•   Historical magnetic, radiometric and gravity data.

 

The analysis of the integrated data sets confirms the primary control on
high-grade silver mineralisation at Elizabeth Hill is the intersection of the
Munni Munni fault with the granite-ultramafic rock contact, a structurally
favourable setting known to host significant mineralisation at the historical
Elizabeth Hill underground mine.

 

The re-evaluation of a large volume of historical and recent data sets led to
the identification and ranking of 12 high priority targets on near-mine
tenements. These targets were assessed based on the following criteria:

 

1.    Proximity to key structural features such as north-trending faults
and fault flexures.

2.    Proximity to granite/ultramafic rock contacts.

3.    Coherent silver-in-soil anomalies with multi-element support
(including copper and zinc).

4.    Presence of gossanous material or historical float samples with
elevated silver.

5.    Underexplored zones due to ineffective past drilling or transported
cover in regolith.

 

The 12 near-mine targets remain untested or ineffectively tested, particularly
those to the south of the historic mine where the main silver shoot is
interpreted to step down along east-trending faults. This step-down geometry
provides a compelling exploration insight into the search for extensions of
the high-grade silver mineralised zone.

 

Figure 1 - Near Mine (NM) Targets generated from data study (RTP Band Pass
Filter Tilt Magnetic Image)

 

High-Priority Exploration Targets - Near Mine

The target generation study has defined two near mine targets (NM5 and NM1)
for immediate follow up exploration (refer Figure 1, Figure 2, Table 1).

 

Near mine target NM5 is located along the interpreted Munni Munni fault at the
granite/ultramafic rock contact to the south of the Elizabeth Hill Silver
Mine. It is supported by two very high-grade silver intersections in
historical drill holes AG43 (1m @ 250g/t Ag from 118m downhole depth) and
AMEHRC012 (2m @ 1,550g/t Ag from 108m downhole depth).

 

Near mine target NM1 is located about 100m north of the historical Elizabeth
Hill Silver Mine along the interpreted Munni Munni fault. This target is
supported by one silver intersection in historical drill hole 22AMC011 (4m @
60g/t Ag from 4m downhole depth) within a granite host rock and surrounded on
the surface by three high-grade float samples and one high-grade rock chip
sample (refer to WCE ASX Release dated 21 July 2025).

 

Several other high-priority targets are located at the eastern contact of the
Munni Munni ultramafic/mafic intrusion and eastern granite (RS9, RS11 to RS15;
Figure 1, Figure 2).

 

These targets are supported by silver in soil anomalies and are located along
an interpreted fault paralleling the eastern margin of the ultramafic/mafic
Munni Munni intrusion in a similar structural position and host rock setting
to the Elizabeth Hill Silver Mine.

 

Near mine target NM3 is located about 200m west of the historical Elizabeth
Hill Silver Mine and is supported by one silver intersection in drill hole
EC052 (2m @ 74g/t Ag from 48m downhole depth) in granite host rock.

 

Other near mine targets include NM2, located at a possible historical gossan
occurrence, and NM6, located at an interpreted structural dilatational jog in
the Munni Munni fault.

 

Near mine target NM4 is supported by observations within the historical
Elizabeth Hill Silver Mine, where silver mineralisation was identified at the
lower contact of the ultramafic/mafic rock to the granite.

 

 Rank  Target  Type of Target         Description
 1     NM5     Drill                  Ag intersections in drill holes AMEHRC012 (2m @ 1,550g/t Ag) and AG43 (1m
                                      @250g/t Ag) at the ultramafic/granite contact, and interpreted location of the
                                      Munni Munni fault
 2     NM1     Drill                  Ag in drill hole 22AMC011 (4m @ 60g/t Ag)
 3     NM3     Drill                  Ag intersection in drill hole EC052 (2m @ 74g/t Ag) within granite
 4     RS15    Soil                   Anomalous Ag in three 100m spaced soil lines
 5     RS11    Soil                   Long coherent Ag soil anomaly defined over five sample lines
 6     RS12    Soil                   Single soil line with anomalous Ag
 7     RS13    Soil                   Single soil line with anomalous Ag
 8     RS14    Soil                   Single soil line with anomalous Ag
 9     RS9     Soil                   Three-line Ag soil anomaly
 10    NM6     Geological/Structural  Potential embayment in the ultramafic/granite contacts and structural
                                      dilatational jog in the Munni Munni fault
 11    NM4     Geological             Ultramafic footwall contact to granite is interpreted in NM4 and where drill
                                      tested in the historical mine sequence it is mineralised
 12    NM2     Gossan                 Historical gossan outcrop, Ag in float samples

Table 1 - Ranked Priority Targets and Targeting Criteria

 

The study also revealed coherent regional anomalies to the north and south of
the mine along structures that are subparallel to the Munni Munni fault,
highlighting broader structural repetitions or analogue targets within the
belt.

 

Exploration targeting is ongoing as newly completed geochemistry data is
received and integrated with historical information.

 

Other Priority Exploration Targets

An additional eight exploration targets were identified in the near mine and
regional scale with less mature data sets that currently do not meet the
criteria for advanced exploration projects (refer Figure 1, Figure 2, Table
1). Additionally, some of these projects have pending geochemistry results to
be integrated into the prospects.

 

 Rank  Target  Type of Target  Description
 13    RS6     Soil            Large 420m long Ag soil anomaly, anomalous Cu, no Pb or Zn
 14    RS7     Soil            Smaller 150m Ag soil anomaly
 15    RS8     Soil            Lower-level small Ag soil anomaly
 16    RS10    Soil            Two-line thin Ag soil anomaly
 17    RS16    Soil            Small three sample Ag soil anomaly Cu support
 18    RS17    Soil            Four-line Ag soil anomaly
 19    RS18    Soil            Small one line Ag soil anomaly
 20    RS19    Soil            Two-line Ag soil anomaly

Table 2 - Additional Exploration Targets requiring more investigation.

 

 

Figure 2 - Further top 10 targets along the east side of the Munni Munni
intrusion (Overlaid on RTP Band Pass Filter Tilt Magnetic Image)

 

Forward Work Plan

West Coast Silver will now utilise these data to define a fieldwork and
drilling program to test the high-priority near mine and regional targets.
This fieldwork may include a combination of trenching, air core/RC drilling
and geophysics. This work would be undertaken in parallel with exploration
follow up of the previously announced shallow mineralisation in the Elizabeth
Hill Silver Mine area (AIM: 16 July 2025
(https://www.londonstockexchange.com/news-article/UFO/exceptional-silver-assays-from-drill-holes-at-eh/17136983)
).

Cautionary Statement

The potential quantity and grade is conceptual in nature. There has been
insufficient exploration to estimate a Mineral Resource. It is uncertain if
further exploration will result in the estimation of a Mineral Resource.

 

For historical drill data and JORC table, refer ASX: WCE announcement dated 05
August 2025.

 

The Elizabeth Hill Project

Elizabeth Hill is one of Australia's high-grade silver projects and has a
proven production history outlined below:

•   High grades enabled low processing tonnes: 1.2Moz of silver was
produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag).

•   Previous mining operation ceased in 2000: because of low silver prices
(US$5).

•   Simplistic historical processing technique: native silver was
recovered via low-cost gravity separation techniques.

•   Untapped potential remains in ground with the deposit open at depth
and recent consolidation of the land package offers potential to discover more
Elizabeth Hill style deposits.

•   Tier 1 Mining Jurisdiction located on a mining lease with potential
processing option at the nearby Radio Hill mine site.

 

Figure 3 - Tenement location

 

Through the consolidation of the surrounding land packages into a single
contiguous 180km(2) package, significant exploration and growth potential
exists both near mine and regionally. The land package holds a significant
portion of the Munni Munni fault system, and other fault systems subparallel
to the Munni Munni fault system, which are considered prospective for
Elizabeth Hill lookalike silver deposits.

 

Competent Person's Statement

The information in this announcement that relates to Exploration Targets is
based on information compiled by Mr Robert Mosig a Competent Person who is a
Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mosig is a
Director of West Coast Silver Limited and a Director of Alien Metals Limited.

 

Mr Mosig has sufficient experience that is relevant to the style of
mineralisation and type of deposits under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves', and a Specialist under the 2015 Edition
of the 'Australasian Code for Public Reporting of technical assessments and
valuations of mineral assets'.

 

Mr Mosig consents to the inclusion in the report of the matters based on his
information and in the form and context in which it appears.

 

For further information, please visit the Company's website at
www.alienmetals.uk (http://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

 

Turner Pope (Joint Broker)

Andy Thacker / James Pope

Tel: +44 (0) 203 657 0050

 

CMC Markets (Joint Broker)

Douglas Crippen

Tel: +44 (0) 203 003 8632

 

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

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 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 one of Australia's largest PGM deposits, Munni Munni which
hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium,
Platinum, and Rhodium) and Gold. The Company has recently entered into a joint
venture with West Coast Silver Limited (formerly Errawarra Resources Limited)
for the development of 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 1990s.

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