Alien Metals Limited - Company Update
Alien Metals Ltd
("Alien Metals", "UFO" or "the Company")
Follow the link to view the announcement in full including all figures:
Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, noting the recent rise in the share price, is pleased to update the market on its current projects. The information provided below has previously been notified to the market and provides an overview of the Company's current operations.
- Recent field work at Hamersley Iron Ore projects completed with 95 samples taken and more detailed mapping completed
- Negotiations with Capstone Mining for a Joint Venture on the Donovan 2 Copper Gold project in
- Ongoing work to secure drill permits to carry out maiden drill programs on the San Celso and
- Finalisation of trenching program on the Elizabeth Hill Silver project
- Acquiring and processing new data set for new permit ELA 47/4422 surrounding
- Continued review of additional projects to add to the Company's existing precious metals and base metals portfolio
Chief Executive Officer,
We also continue to review possible new projects to add to the UFO portfolio and strengthen the Company's asset base."
Figure 1: Location of the Brockman and Hancock Ranges Iron Ore projects within the prolific iron ore producing region of the Pilbara
Hamersley Iron Ore Projects (51%)
The two projects are within the
As announced on the 9th
See details of the previous announcement:
Figure 2: : Massive banded iron formation (BIF) located at the Brockman Iron project,
All samples generated will be despatched to Intertek Genalysis at Maddington, WA, and analysed for their Basic Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis used in the 2019 due diligence site visit and it will maintain consistency and comparability between these analyses.
The Company has also commenced discussions to increase the Company's current interest of 51% in the key Hamersley tenements.
Elizabeth Hill Silver Project (100%)
As announced on the 25th
On the back of this the trenching program is in its final planning stages to explore for repeat silver mineralisation close to the existing mine as a first stage of field work.
The acquisition of ELA 47/4422 was also very recently announced and work has begun to collate and review the data associated with this large area, some 117 Km2, which wraps around the Elizabeth Hill Mining Licence and a major palladium/platinum/ gold deposit and constitutes an excellent new land holding for the Company in a fast developing region of WA.
See Details of the previous announcement:
San Celso and Los Campos Silver Projects,
Both projects are drill ready and following the recent field work which indicated that the historic underground workings have become too dangerous for easy and cost effective access the Company is focussed to get the necessary drilling permits issued to be in a position to carry our Maiden drill programs on each project, essential next steps in the projects development.
Donovan 2 Copper Gold Project
The Company is currently in discussion with Capstone Mining to finalise the JV agreement that has been proposed and the Company envisages to complete this within the 45 day due diligence period originally agreed subject to negotiations, however no agreement has finalised at this stage.
Figure 3: Location of the
The Board of Alien continues to assess a range of mineral projects and opportunities, with particular focus on exploration projects with significant exploration and value upside.
For further information please visit the Company's website at www.alienmetals.uk, or contact:
Alien Metals Limited
St-James' Corporate Services, Company Secretary
First Equity Limited (Joint Broker)
Tel +44 (0)20 7374 2212
Beaumont Cornish Limited (Nomad)
Tel: +44 (0) 207 628 3396
Novum Securities Limited (Joint Broker)
Tel +44 (0)20 7399 9425
Blytheweigh (Financial PR)
Tel: +44 (0) 207 138 3204
Turner Pope Investments (TPI) Limited (Joint Broker)
Tel +44 (0)20 3657 0050
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities.
Alien Metals has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets including two recent acquisitions in 2019. These include the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver projects both located in the Pilbara region,
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects in
Quick facts: Alien Metals Ltd
Market Cap: £52.15 m
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