REG - Alien Metals Limited - Update on Mexican Silver and Copper Projects

Alien MetalsAnnouncement

28/03/2022 07:00

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RNS Number : 1541G  Alien Metals Limited  28 March 2022

Trading Symbols

AIM: UFO

FWB: I3A1

28 March 2022

 

Alien Metals Ltd

("Alien" or "the Company")

 

Drilling underway on Mexican Silver and Copper Projects

 

Follow the link to view the announcement in full including all figures:

http://www.rns-pdf.londonstockexchange.com/rns/1541G_1-2022-3-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1541G_1-2022-3-27.pdf)

 

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development
company, is pleased to update the market on its high-grade silver and
copper-gold projects in Zacatecas, Mexico.

 

Highlights

·    Drilling of the Company's high-grade silver projects in Mexico has
begun with a highly accredited local drilling group engaged to complete the
diamond programme

·    The first holes to be drilled will be at the San Celso Silver Project

·    Drilling at the San Celso and Los Campos Silver Projects will target
the mineralised vein systems previously exploited for their high-grade silver
where head-grades in excess of 1,000 g/t silver were historically reported

·    In addition to the high-grade silver projects, the Company is also
drilling at the Donovan 2 Cu-Au Project

·    Drilling at Donovan 2 will target a potentially significant copper
zone that has been associated with a previously reported sample of 3.34% Cu
taken in the Los Alamos water well

 

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
"After a Covid-induced delay of two years, we are finally commencing the next
round of exploration on our highly prospective Mexican assets. Personally, I
am very excited to be here in person to witness the start of a long-awaited
maiden drilling programme. Over the last two years, the local team has worked
very hard under difficult conditions to manage the programme and advance it to
this stage.

 

"We are also very pleased to be able to bring a local undergraduate into our
team and provide some hands-on training and support her education costs. The
drillers engaged are highly recommended by Mexico's Environmental Agency for
their quality of work, so it is a pleasure to be working with them."

 

Further to the announcement of the 10 February 2022, the Company can confirm
that its inaugural drilling programme has commenced at San Celso.

The San Celso and Los Campos silver projects both contain historic, very
high-grade, underground silver mines, dating back more than a century. Both
present the classical high-grade narrow vein epithermal mineralisation
associated with the regional mineralised systems of the metallogenic belt that
Zacatecas straddles. A detailed grid drilling programme has been planned for
both projects to enable future resource calculations, while these initial
drill programmes are based on initial wide spaced holes within the more
detailed grids to identify initial mineralisation thickness, grade and
continuation. This method means the Company can test both projects cost
effectively as a first phase, to help next stage planning and targeting
depending on the results, rather than only testing one of the two very
prospective projects at the outset.

The Donovan 2 copper project target is to locate the deep-seated source of the
high-grade copper well samples, up to 3.34% Cu, taken from inside the Los
Alamos well. The Company feels that this has not been tested sufficiently to
date and is looking forward to being able to fully test this target.

A review of the Donovan 2 drill core also identified a previously not followed
up zone of interest from drill hole DON21-003 which intersected a 11.5m zone
of intense alteration returning on average 0.4% Zn and 0.4% Pb from only 12.4m
depth. The hole was vertical but the team believes this structure is also near
vertical as well so an initial trench is planned and approved at surface to
test the possible trend and potential for follow-up work.

A review of the hole DON21-001, which was the closest hole drilled to the Los
Alamos target, also showed some excellent alteration which adds encouragement
to the team for the coming drilling.

Alien has fostered a strong relationship with the local community around these
projects during the pandemic and is pleased that it is now able to push ahead
with this significant next stage of exploration which it believes is crucial
for further development of these projects, as maintaining the social license
to operate is vital to Alien's approach to mineral exploration.

The Company looks forward to updating the market as the drill programme
continues.

Figure 1: Location of Alien's projects, Mexico.

Figure 2: Drill rig setting up on hole SCDD001, San Celso, March 2022

Figure 3: Close up of surface sample of epithermal alteration associated with
main historic silver mineralisation at San Celso, March 2022

Figure 4: Bill Brodie Good (CEO & Technical Director) and Jose Luis
Posadas (Exploration Manager Mexico) finalising drill hole locations, Los
Campos, March 2022 (note extensive old dumps and workings in background)

 

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

 

 

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

(via St-James' Corporate Services, Company Secretary)

Tel: +44 20 7796 8644

 

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.

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

The Company was also awarded an Exploration Licence in Greenland in late 2020,
which surrounds the world class Citronen Zinc-Lead deposit.

 

 

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