Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Alien Metals Limited LSE:UFO London Ordinary Share VGG017351021 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.58 -20.14% 2.30 2.25 2.35 2.85 1.975 2.70 175,247,409 16:21:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.2 -0.2 - 71

Alien Metals Limited Exploration at Hamersley Iron Ore Projects

22/09/2020 7:00am

UK Regulatory (RNS & others)


Alien Metals (LSE:UFO)
Historical Stock Chart


From Sep 2020 to Oct 2020

Click Here for more Alien Metals Charts.

TIDMUFO

RNS Number : 6498Z

Alien Metals Limited

22 September 2020

Trading Symbols

AIM: UFO

FWB: I3A1

22 September 2020

Alien Metals Ltd

("Alien Metals" or "the Company")

Link to full announcement including figures:

http://www.rns-pdf.londonstockexchange.com/rns/6498Z_1-2020-9-21.pdf

Next stage exploration underway at Hamersley Iron Ore Projects

Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to advise that further to the RNS dated 25 August 2020, follow-up detailed geological mapping and sampling is underway at the Company's Hamersley Iron Ore Projects.

Highlights :

- Programme to validate recently announced Maiden Exploration Targets across both projects and will consist of:

o 4-5km of grid-based sampling across priority prospects; and

o Detailed mapping over exposed iron ore formations

o Drill access planning in the field

   -      Assay results from sampling expected late October 
   -      Preparation of maiden drilling campaign to follow 

Chief Executive Officer, Bill Brodie Good said : "The Company is extremely pleased with the results and findings of the recent detailed data compilation, which helped generate maiden Exploration Targets for both projects. The field work undertaken last year replicated the high-grade DSO results previously recorded at the projects and so our next objectives are to carry-out further exploration work, including an upcoming maiden drilling programme, to potentially convert the Exploration Targets into JORC compliant resources.

"We are very fortunate that we could quickly mobilise an experienced geological team into the field to carry out the planned exploration work. This will allow us to continue to develop these projects up the knowledge and value curve.

"The Company is excited about the potential to add significant value to the projects and developing next stage exploration from the outcome and looks forward to updating the market of progress in due course."

Figure 1: Location of the Brockman and Hancock Ranges Iron Ore projects within the prolific iron ore producing region of the Pilbara

Background

The two projects are within the Hamersley Province of Western Australia, known as one of the premier iron ore producing regions of the world. The Brockman Project (E47/3953) is located in the west Hamersley Province, 100 kilometres ("km") northwest of the Rio Tinto iron ore mining town of Tom Price, and 90km west of the Tom Price to Dampier mine railway. The Hancock Ranges Project (E47/3954) is located in the east Hamersley Province, 15km north of the BHP iron ore mining town of Newman, and 20km west of the Newman to Port Hedland mine railway.

As announced 25 August 2020, five priority prospects were identified with next stage exploration plans proposed. For the Brockman Project, three targets focus on the historic high-grade BHP prospects numbers 15, 19 and 20. Two key targets in the Hancock Ranges Project are the Sirius Extension prospect, that has previously been drilled by Volta Mining (refer RNS dated September 20, 2019 for further information), and the Kalgan Prospect in the north-west of the tenement, that the Company believes has excellent potential.

Update

The follow-up exploration programme is planned to take a couple of weeks and will focus on detailed grid-based surface mapping and sampling to better define the 5 priority areas being targeted for upcoming drill planning. Access for drilling will also be marked out while in the field to support the maiden drilling programme. The geological team will be self-sufficient camping within the tenements to enable maximum field time for the programme duration.

Figure 2: Field equipment set-up, Hamersley Exploration team

All samples generated will be despatched to Intertek Genalysis at Maddington, WA, and analysed for their Basic Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis used in the 2019 due diligence site visit and it will maintain consistency and comparability between these analyses.

   Figure 3:   Location of BHP historic deposits in relation to E47/3953 Brockman Project 

Figure 4: Interpreted Geology of E47/3954 Hancock Ranges Project with main prospects

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                 First Equity Limited (J oint 
  Bill Brodie Good, CEO & Technical    Broker) 
  Director                             Jason Robertson 
  St-James' Corporate Services,        Tel +44 (0)20 7374 2212 
  Company Secretary 
  Tel: +44 20 7796 8644 
 Beaumont Cornish Limited (Nomad)     Novum Securities Limited (Joint 
  James Biddle/ Roland Cornish         Broker) 
  www.beaumontcornish.com              Jon Belliss 
  Tel: +44 (0) 207 628 3396            Tel +44 (0)20 7399 9425 
 
   Blytheweigh (Financial PR)           Turner Pope Investments (TPI) 
   Megan Ray/Rachael Brooks             Limited (Joint Broker) 
   Tel: +44 (0) 207 138 3204            Andy Thacker/ Zoe Alexander 
                                        Tel +44 (0)20 3657 0050 
 

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.

Alien Metals has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets including two recent acquisitions in 2019. These include the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver projects both located in the Pilbara region, Western Australia.

In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects in Mexico, Alien Metals has identified priority exploration targets within its 9 mining concessions which it is working to advance systematically. The Company's silver projects are located in the 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.

Glossary:

XRF - X-ray fluorescence, used for elemental analysis and chemical analysis, particularly in the investigation of metals in the resource industry

Fe - Iron

Al - Aluminium

Ca - Calcium

K - Potassium

Mg - Magnesium

Na - Sodium

P - Phosphorous

S - Sulphur

Si - Silica

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDKKDBBKBKBKCB

(END) Dow Jones Newswires

September 22, 2020 02:00 ET (06:00 GMT)

1 Year Alien Metals Chart

1 Year Alien Metals Chart

1 Month Alien Metals Chart

1 Month Alien Metals Chart
ADVFN Advertorial
Your Recent History
LSE
UFO
Alien Meta..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20201021 03:19:53