Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has identified further potential high-grade ridges at its Hancock iron ore project, which it will begin drill testing soon.
A rock chip sampling programme was conducted, with 67 chip samples taken across newly identified target areas.
Of these, 25 of the rock chip samples returned assays of greater than 60% iron and with an average grade of 63% iron, making them DSO (direct shipping ore) grade.
The company said the sampling programme highlights the “excellent continuity of potential high-grade zones”, with “at least five” new high-grade ridge targets defined so far, covering over 3km strike length of new drill targets.
Such results further support management’s belief of repeat high-grade ridges across the project, it added.
“To have identified further potential high-grade ridges is very encouraging and, once the weather permits, we will aim to continue our programme of drill testing,” said Bill Brodie Good, chief executive officer and technical director.
He added that Hancock’s bulk sample testing “is nearing completion and the work programme to secure the necessary permits in getting the project shovel-ready remains ongoing”.
At the company’s other iron ore asset in Australia, the Brockman Project, Brodie Good said planning of a maiden drill programme has been completed, with testing planned during the next field season.