Shares in Alien Metals Ltd (AIM:UFO, OTC:ASLRF), the AIM-listed minerals exploration and development company, rose 4% to 0.10p on Thursday.
The move followed diamond drilling results from the Elizabeth Hill Silver Project in Western Australia, announced by joint venture partner West Coast Silver, which is listed on the Australian Securities Exchange.
The standout intersection was 38.3 metres grading 878 grams per tonne silver from 3.7 metres downhole, including 22.3 metres grading 1,495 grams per tonne.
Within that zone, a 0.5 metre interval returned 64,745 grams per tonne silver, a grade description typically reserved for exceptionally rich mineralisation.
Two further holes returned additional high-grade results, with one intersecting 63 metres at 53 grams per tonne silver from 2 metres downhole.
The drilling, aimed at infilling an April 2026 mineral resource estimate, also found mineralisation extending beyond the current resource boundary, including near-surface and westward into granite.
All reported intersections are downhole lengths rather than true widths, so they do not necessarily represent the actual thickness of the mineralised zones.
Further drilling is scheduled for the second half of 2026 to test the extent of the newly identified mineralisation.
Alien Metals holds a 30% interest in Elizabeth Hill and 30.5 million shares in West Coast Silver.
