Alien Metals Limited (LSE:UFO) shares moved up in Wednesday's early trade after it revealed the latest batch of "bonanza" assay results from the Elizabeth Hill Silver project, in Western Australia’s Pilbara region.
Joint venture partner West Coast Silver's Phase 2 diamond drill results included multiple high-grade intersections, including 27.4 metres at 1,314 g/t silver from 49 metres in hole 25WCDD014, with higher-grade intervals inside that intercept, the London-listed small-cap said.
The explorer noted a peak internal interval of 0.35 metres at 33,107 g/t silver from 74.6 metres, and also reported 22.0 metres at 578 g/t silver from 6 metres in hole 25WCDD019.
“The board is very encouraged by the results delivered from this Phase 2 drilling program at Elizabeth Hill,” West Coast Silver executive director Bruce Garlick said in the statement.
“Of particular significance is the extension of high-grade mineralisation beyond the previously drilled footprint.”
Assay results from a 76-hole, 1,060-metre aircore programme completed in November 2025 are expected in mid-February 2026, with follow-up drilling planned.
In London, in early trade, Alien Metals rose around 10% - and at their highest this morning changed hands at 0.25p - though at 9:00am were 'flat' at 0.2p.