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Alien Metals continues iron ore due diligence, examines precious metals additions

The company and its technical consultants have identified prospective areas and visited the Pilbara sites over the past week to take samples

Alien Metals Ltd -
The Pilbara region is where giant Rio Tinto has 16 iron ore mines

Alien Metals Limited (LON:UFO) said it is looking at “acquisition opportunities” in precious metals, while continuing due diligence in relation to its option to acquire a 51% stake in the Hancock Ranges and Brockman iron ore projects in Western Australia.

Alien and its technical consultants have visited the Pilbara sites over the past week and taken “numerous samples” that are now being assayed by an independent laboratory in Perth.

READ:  A reinvigorated Alien Metals is all set to become the market’s next multi-million dollar prospect generator

This follows a “detailed review” of historical information in relation to the licenses to identify prospective areas.

The AIM-listed company intends to identify and map the drill-hole collars from historic exploration programmes.

On the acquisition opportunities, Alien noted that any new additions would be “complementary” to its silver assets in Mexico.

Quick facts: Alien Metals Ltd

Price: 0.68 GBX

Market: LSE
Market Cap: £18.54 m

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