Alien Metals Ltd (LON:UFO) said it has completed the final legal registration work related to the acquisition of the Nueva Andromeda permit, strategically contiguous to the company’s San Celso silver project in Zacatecas, Mexico.
Detailed mapping and sampling will be carried out on Nueva Andromeda by the company’s newly appointed senior geologist in Mexico in coming days.
A review of new projects presented to Alien for earn in or acquisition in copper and silver in the same region will also be undertaken.
The company is awaiting environmental drilling permit authorisation for the San Celso and Los Campos silver projects.
Meanwhile, at the Elizabeth Hill silver project in Australia, an airborne magnetic survey has been completed and data captured in the eastern area and combined with the western areas. The whole is currently being processed and analysed by Southern Geoscience.
The existing JORC compliant resource at Elizabeth Hill mine was completed by Iana Ltd in 1999 for 46,800 tons at 2,450 grams per tonne for 4.05 mln ounces of contained silver.
As announced on December 14, 2020, planning is underway to re-enter the historic Elizabeth Hill underground mine which was mined between 1998 and 2000 via underground mining, primarily between the 62 metre and 102 metre levels. Silver production totalled approximately 16,800 tonnes of ore grading 2,195 grams, including some very large specimens of native silver.
Direct underground drilling on the target zones will prove more effective than surface drilling of this target, given there are already workings to provide access, to facilitate defining the remaining resource and the potential untested new mineralisation.
An initial trenching program will commence as soon as possible with the aim of identifying at surface native silver and new silver targets
"We are pleased to provide an update on our exciting silver projects, particularly in light of the recent strengthening silver market which has seen the price hit an eight year high of US$30 per ounce,” said Alien chief executive Bill Brodie Good in a statement.
“With funds in place, the team is actively securing our drilling permits for Mexico and we are excited to get underway. As part of this process, the company has employed Jose Luis Posadas, a highly experienced Zacatecas-based exploration geologist, on a fulltime basis. Jose will be a great addition to our team and his knowledge and connections will help Alien to advance its discussions with local parties about potential projects, review them on the ground quickly and in-house and enable even closer relations with the Mexican Mines department.”