Alien Metals Ltd (LON:UFO) said final results from the maiden drilling program on its Hancock iron ore project, part of the Hamersley iron ore project in Western Australia, confirmed four high-grade direct shipping ore (DSO) mineralisation prospects.
Significant results from the 53 reverse circulation drill holes included 103 metres at 61.8% iron from surface (hole 48), 73 metres at 59.5% iron (hole 47) and the previously announced 26 metres at 54.3% iron.
"The remaining assays confirmed the significant potential of the Sirius Extension prospect, as well as the potential of the wider licence area,” said chief executive Bill Brodie Good.
“Hole 48, located on strike from the historic holes, returned 103m @ 61.8% Fe from top to bottom and was still in ore when the drilling had to be stopped. This, along with the significant intersection in hole 47, are excellent results that bode well for the potential of this prospect.
“In combination with the new DSO grade interceptions from the Western Ridges targets that we also identified from the first batch of assays, the company quickly remobilised a drill rig and we are now back in the field following up high-priority areas identified from the maiden drill program,” he said.
About 1,300 metres has been drilled so far in the second phase of drilling.
“In addition to the known DSO grade iron ore at the Sirius Extension prospect, the focus of the follow-up program is to prove up the DSO potential across the other prospect areas using surface mapping and sampling to study the untested areas of the tenement we believe to have even more potential," said Brodie Good.