Alien Metals Limited Andromeda Sampling Results (4530U)

TIDMUFO

RNS Number : 4530U

Alien Metals Limited

06 April 2021

Trading Symbols

AIM: UFO

FWB: I3A1

6 April 2021

Alien Metals Ltd

("Alien Metals", "Alien" or "the Company")

High grade Silver up to 734g/t and 1.9% Zinc encountered at new extension to San Celso Silver Project, Mexico

Follow the link to view the announcement in full including all figures:

http://www.rns-pdf.londonstockexchange.com/rns/4530U_1-2021-4-5.pdf

Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to report the results of the recently completed surface mapping and sampling program carried out on its newly acquired Nueva Andromeda permit, strategically contiguous to the San Celso silver project in Zacatecas State, Mexico.

Highlights

   --    Surface Sample Results including: 

o 734 g/t Silver ("Ag")

o 488 g/t Ag

o 270 g/t Ag and

o 1.93% Zinc ("Zn")

   --    Numerous historic mine workings located 
   --    Potential for increased silver resource at San Celso 

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:

"We are very pleased with the results of this sampling and mapping program, which are greatly encouraging for the potential of the project. We were particularly pleased to see that the results confirm our interpretation that there is a continuation of silver and base metals mineralisation and historic mining within the Nueva Andromeda permit area, with the total strike length now increased by a further 20-30% for the San Celso Project.

"The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides and hence are very similar to the mineralisation seen in the San Celso veins to the north. All samples were taken from the surface as float associated with various size dumps from the historic mining in the area."

Figure 1: Location of Nueva Andromeda Permit in relation to San Celso with projected mineralised systems, Alien, March 2021

Figure 2: Summary of sampling results, Nueva Andromeda Permit, San Celso Project, March 2021

Table 1 below lists the details of the seven samples taken in this brief program along with the results. Of note, coincident with the significant silver results, of which all samples were strongly anomalous with a maximum of 734 g/t Ag from sample 9203, 488 g/t Ag from sample 9209 and sample 9210 returning 270 g/t Ag, there are also three samples that returned significant gold up to 0.44 g/t Au, as well as a significant zinc anomaly up to 19,350 g/t Zn (1.93% Zn) from sample 9206 while still returning 163 g/t Ag. The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides, hence they are very similar to the mineralisation seen in the San Celso vein systems to the north.

The Company is extremely pleased with these initial results which, as expected, add exciting potential to the overall San Celso project. A detailed review of all data from the project has been done and a plan to attempt to access the historic underground workings in this area are being prepared to further increase knowledge and add sampling information, while work continues on obtaining the drilling permit grant.

Table 1: Sample information, Nueva Andromeda Permit, March 2021

 
 Sample   Easting   Northing    Lithology        Alteration         Sample     Ag ppm   Au g/t      Zn 
   Nbr                                                               type                (Gold)     g/t 
  9203    796038    2500628    Granodiorite   Argilization+FeOx   Float/dump    734      0.442    6,180 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9206    796199    2500726    Granodiorite   Argilization+FeOx   Float/dump    163      0.423    19,350 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9207    796172    2500718    Granodiorite   Argilization+FeOx   Float/dump     49      0.263    8,580 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9208    796160    2500483    Granodiorite   Argilization+FeOx   Float/dump     30      0.017     490 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9209    796403    2500739    Granodiorite   Argilization+FeOx   Float/dump    488      0.018      94 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9210    796438    2500605    Granodiorite   Argilization+FeOx   Float/dump    270      0.005     313 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
  9211    796299    2500604    Granodiorite   Argilization+FeOx   Float/dump    180      0.007    1,340 
         --------  ---------  -------------  ------------------  -----------  -------  --------  ------- 
 

Figure 3: Silver results, maiden Nueva Andromeda permit sampling, Alien, March 2021

Figure 4: Nueva Andromeda vein sample, March 2021

The Board of Alien continues to assess a range of mineral projects and opportunities, with particular focus on exploration projects with near term news flow and value creation.

For further information please visit the Company's website at www.alienmetals.uk , or contact:

 
 Alien Metals Limited                 Turner Pope Investments (TPI) Limited 
  Bill Brodie Good, CEO & Technical    (Joint Broker) 
  Director                             Andy Thacker / Zoe Alexander 
  St-James' Corporate Services,        Tel [phone] 
  Company Secretary 
  Tel: [phone] 
 Beaumont Cornish Limited (Nomad)     First Equity Limited (Joint Broker) 
  James Biddle/ Roland Cornish         Jason Robertson 
  www.beaumontcornish.com              Tel [phone] 
  Tel: [phone] 
 
   Yellow Jersey PR (Financial 
   PR) 
   Sarah Hollins / Joe Burgess 
   / Matthew McHale 
   [e-mail] 
   Tel: [phone] 
 

Notes to Editors

Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.

In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in 2020 acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.

The Company also holds two silver projects located in Zacatecas State, Mexico's largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company's Donovan 2 Copper Gold project in the same region is currently under an Earn-in agreement with Capstone Mining Corp. of Canada.

The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.

In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically.

Qualified Person

The information in this report that relates to exploration targets, exploration results, and other information of a technical nature has been reviewed by Dr Lex Lambeck Ph.D, a technical consultant to the Company. Dr Lambeck is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist, CPG-11734, with over 15 years of relevant experience in exploration and assessment of resource projects.

Forward-Looking Information

This press release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are deemed forward-looking information.

This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions, including the availability of sufficient funds. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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April 06, 2021 02:00 ET (06:00 GMT)