Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it will start drilling as soon as possible on its high-grade silver and copper-gold projects in Zacatecas, Mexico.
It announced it has been granted all the necessary permissions to begin drilling on its 100% owned Los Campos and San Celso silver projects and the Donovan 2 copper-gold project.
"We are extremely pleased to have all the statutory and local permits now in place for our three Mexico projects,” said chief executive Bill Brodie Good.
"By combining the three programmes into a single, larger programme, we will reduce the overall costs and complete the programme more quickly.
“The strong market dynamics for both silver and copper, coupled with the geological potential of these projects, provides Alien shareholders with very strong leverage to any drilling success, so we are keen to get the rods turning and generating results," he said.
Drilling at San Celso and Los Campos will target the mineralised vein systems previously exploited for high-grade silver, where head-grades greater than 1,000 grammes a tonne of silver were historically reported.
At Donovan 2, it aims to locate the source of the high-grade copper surface samples, of up to 3.34% copper, taken from the Los Alamos well.
The AIM-traded company also announced a delay in the completion of its 30% acquisition of the Munni Munni platinum group metals and gold project from ASX-listed Platina Resources Ltd (ASX:PGM). The companies have agreed to extend the settlement date to March 21.
Due to the same issue, it has had to extend the settlement date with Artemis Resources Ltd (ASX:ARV, OTCQB:ARTTF, AIM:ARV) to buy its 70% joint venture interest in the project to March 28.
READ: Alien Metals takes full control of Australia's major platinum group projects in A$4.9mln deal