Alien Metals Ltd (LSE:UFO) will announce the results of a scoping study on the Hancock iron ore project in the Pilbara region of Western Australia on October 19.
The announcement and a subsequent live webinar will provide more details on the project. Last month, Alien Metals revealed a maiden JORC-compliant inferred resource of 10.4 million tonnes at 60.4% iron: 7.8 million tonnes at 60.1% iron at the Sirius Extension target and 2.6 million tonnes at 61.5% iron at the Ridges targets.
READ: Alien Metals reveals maiden inferred resource of 10.4Mt for Hancock iron ore project
Alien increased its interest in Hancock to 90% in May 2021.
"After the rapid progress since acquiring the Hancock iron ore project, including the recent initial mineral resource estimate (MRE), we have continued to advance the project through engaging Mining Plus to complete the scoping study, which provides an initial economic assessment of the MRE,” said chief executive Bill Brodie Good.
“Mining Plus provides a highly credentialed team with recent work including the design and planning of another high-grade DSO [direct shipping ore] project in Western Australia.
"We are very pleased to be in a position whereby Mining Plus is finalising its initial Scoping Study and we are looking forward to sharing the findings with the market next week to show the progress and potential of this project. In the meantime, we continue to plan and make preparations for the Phase 3 drilling programme that will target extensions of the high-grade, low strip ridges."