TIDMUFO
RNS Number : 1379Y
Alien Metals Limited
12 January 2022
Trading Symbols
AIM: UFO
FWB: I3A1
12 January 2022
Alien Metals Ltd
("Alien" or "the Company")
Drilling identifies extensions to Hancock Iron Ore Project
Follow the link to view the announcement in full including all
figures:
http://www.rns-pdf.londonstockexchange.com/rns/1379Y_1-2022-1-11.pdf
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and
development company, is pleased to provide an update on findings
and results on its Phase 3 drilling programme at the Company's
Hancock Iron Ore project, part of its Hamersley Iron Ore Project,
Western Australia, further to its announcement of 11 November
2021.
Highlights
-- Extensions to existing Inferred Resources have been
identified in the recently completed Reverse Circulation ("RC")
drilling programme
o 46 RC holes for 1,146m were completed prior to the end of
2021, targeting extensions to known deposits and infill drilling on
existing Resource of 10.4Mt @ 60.4% Fe
-- As part of the ongoing development studies, the Company also
collected a bulk sample of about 1,000 Kg of high-grade material
for initial metallurgical test work
-- The previously designed diamond drill programme commenced on Monday, 10 January 2022
o The 7 hole, 650m programme is designed to further increase the
confidence in the JORC 2021 Inferred Mineral Resource Estimate, as
well as to provide additional material for early metallurgical and
commutation testing as part of ongoing mining studies
-- The Company has also delineated new drilling targets from
laboratory XRF results of 60 rock chip samples collected during the
recent field reconnaissance programme
-- On the Company's Brockman tenement, management is pleased to
announce the successful completion of the Heritage and Ethnological
Surveys that will enable exploratory fieldwork to commence
shortly
-- Further updates will be provided when the results of the drill programme are available
Bill Brodie Good, Chief Executive Officer & Technical
Director of Alien Metals, commented: "Progress on the Company's
Iron Ore Company of Australia (' IOCA') project continues to
advance rapidly. The completion of the RC programme, bulk sample
and new rock chip sampling before the start of the wet season was a
terrific effort by the team and a great outcome for investors. Due
to continued availability pressures from the ongoing Covid-19
restrictions within the state of WA, the diamond core drill rig was
delayed, but we are pleased that it has now started. The
identification of additional untested mineralised ridges is a very
exciting development and we look forward to drill testing these
over the coming months and identifying even more to develop."
As announced on 11 November 2021 (the "Announcement"), the RC
drilling that was completed at the end of 2021 comprised a total of
46 holes for 1,146m, with just over half of the drilling taking
place on Ridges C and E. This drilling focused on identifying
extensions of the JORC resources along strike as well as. Of the 28
holes drilled on Ridge E, 18 drill holes were designed to increase
the geological knowledge within the current resource as well as
testing a further 650m along strike while 4 holes were drilled to
update the Ridge C resource with a couple of initial test holes
extending the strike potential by a further 350m at Ridge C.
A further 4 exploratory holes in the newly defined Ridge F and 6
in Ridge G were also drilled to complete this drill programme.
Additional Rock Chip Sampling Programme
At the same time, the team took the opportunity to undertake a
quick field reconnaissance programme on the untested Ridges F, G
and H, which resulted in 60 rock chip samples being taken. These
were submitted to ALS Perth* for industry standard sample
preparation including crushing and pulverising with then a meltdown
of an ensuing homogenous part of the sample into a bead for
analysis for total iron (Fe(2) O(3) ).
The results returned a significant new 800m long high grade
anomaly on the part of Ridge H samples, 800m of about 5-6 km strike
length, as well as a lower grade but still significant trend of
similar strike length on Ridge G as well (see Figure 4 below). As
the Company has stated, these initial results identify the presence
of further high grade iron ore within the tenement and still leave
numerous kilometers of ridges remaining to test and work up.
Drill Results
All samples generated from the drilling will be dispatched to
ALS Perth*. Further announcements will be made when the results are
received, anticipated to be in 10 to 12 weeks' time.
Samples will be analysed for their Basic Iron Ore Package
Analysis with XRF finish, which includes Fe, Al, Ca, K, Mg, Mn, Na,
P, S and Si. This is the same as the analysis and laboratory used
in all Alien's analysis work on these projects to maintain
consistency and comparability between all analyses.
For QA/QC purposes, Alien used the industry standard of
inserting 5% Certified Reference Material (CRM) samples, 5%
Certified Blank Samples (Blanks) and 5% duplicate samples at
source. The CRMs were sourced from Geostats Pty Ltd, Perth, WA, a
global leader in the manufacture and sale of CRMs and Blanks.
Table 1: Summary high grade rock chip sample results, Phase 3
drilling recon programme, Hancock Iron Ore Project, Western
Australia
Sample Location Easting Northing Fe(2) Fe %
No O(3)
UFO_TP001 Ridge H 777057 7426167 82.81 57.92
----------------- -------- --------- ------ ------
UFO_TP007 Ridge F 776019 7427378 84.69 59.24
----------------- -------- --------- ------ ------
UFO_TP009 Ridge H 776915 7426213 74.12 51.84
----------------- -------- --------- ------ ------
UFO_TP010 Ridge H 777167 7426127 77.85 54.45
----------------- -------- --------- ------ ------
UFO_TP011 Ridge F 777186 7426725 71.36 49.91
----------------- -------- --------- ------ ------
UFO_TP012 Ridge F 777098 7426717 70.54 49.34
----------------- -------- --------- ------ ------
UFO_TP013 Ridge F 777092 7426758 65.48 45.8
----------------- -------- --------- ------ ------
UFO_TP042 Ridge E Eastern 776462 7428690 78.36 54.81
----------------- -------- --------- ------ ------
UFO_TP046 Ridge H 777264 7426088 87.27 61.04
----------------- -------- --------- ------ ------
UFO_TP047 Ridge H 777343 7426027 65.31 45.68
----------------- -------- --------- ------ ------
UFO_TP051 Ridge H 776820 7426220 89.17 62.37
----------------- -------- --------- ------ ------
UFO_TP052 Ridge H 776733 7426263 76.37 53.42
----------------- -------- --------- ------ ------
UFO_TP053 Ridge H 776626 7426295 79.12 55.34
----------------- -------- --------- ------ ------
UFO_TP056 Ridge G 776750 7426860 80.58 56.36
----------------- -------- --------- ------ ------
UFO_TP059 Ridge G 777026 7426816 69.67 48.73
----------------- -------- --------- ------ ------
Note 1: Full results are included in the Appendix to this
announcement
Note 2: to calculate the Fe% content from Fe(2) O(3) industry
standard is to divide by 1.4298
Brockman
Maiden drilling on the Brockman tenement is still a priority,
with a follow up field mapping and sampling programme planned prior
to finalising a drilling programme, along with obtaining the
necessary permission to drill within the tenement. The completion
of the Heritage and Ethnological Surveys that will enable
exploratory fieldwork to commence shortly were completed at the end
of last year and the Company is working through the draft reports
to finalise and have them officially registered.
Further updates will be provided in due course as
appropriate.
* not Intertek Genalysis, as previously stated, due to sheer
volume of samples causing excessive analysis turnaround at Intertek
at the moment. It should be noted that ALS are a global leader in
Iron Ore analysis as are Intertek, so the Company feels this will
not detract from the quality of the results
Figure 1: Location of Hancock Iron Ore Project, Western
Australia
Figure 2: Location of completed RC drill hole locations, Phase 3
drilling Ridge C and E, Hancock Iron Ore Project, Western
Australia
Figure 3: All RC drill hole locations, Phase 3 drilling, Hancock
Iron Ore Project, Western Australia
Figure 4: Rock chip samples and Fe analysis, October 2021
reconnaissance programme, Hancock Iron Ore Project, Western
Australia
Figure 5: Eastern edge of existing defined orebody, Ridge E,
Hancock Iron Ore Project, Western Australia
Figure 6: Drill rig on Ridge F looking north east at new iron
ore ridges, Hancock Iron Ore Project, Western Australia
Figure 7: Newly defined iron ore ridges north east of Ridge F,
Hancock Iron Ore Project, Western Australia
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited
Bill Brodie Good, CEO & Technical Director
(via St-James' Corporate Services, Company Secretary)
Tel: +44 20 7796 8644
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope
Tel: +44 (0) 20 3657 0050
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Sarah Hollins / Annabel Atkins / Matthew McHale
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
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 a
conditional agreement to increase its interest to 90% in May 2021
while 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.
In November 2021 the Company also entered into a Binding Heads
of Agreement with ASX listed Platina Resources Limited to acquire
its 30% joint venture interest in the Munni Munni Platinum Group
Metals and Gold Project in the West Pilbara, Western Australia. In
December 2021, the Company further entered into a Binding Heads of
Agreement with ASX listed Artemis Resources Limited to, subject to
the satisfaction of certain conditions, acquire its 70% joint
venture interest in the Munni Munni Platinum Group Metals and Gold
Project in the West Pilbara, Western Australia. The Australian
projects are located in the world-renowned Pilbara region of
Western Australia.
The Company also holds two silver projects, San Celso and Los
Santos, 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 holds a Copper Gold project in the same
region, Donovan 2.
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.
Competent Person
The information in this announcement which relates to
Exploration Targets, Exploration Results and the Scoping Study has
been approved by Mr. Allen Maynard, who is a Member of the
Australian Institute of Geosciences ("AIG"), a Corporate Member of
the Australasian Institute of Mining & Metallurgy ("AusIMM")
and independent consultant to the Company. Mr. Maynard is the
Director and principal geologist of Al Maynard & Associates Pty
Ltd and has over 40 continuous years of exploration and mining
experience in a variety of mineral deposit styles. Mr. Maynard has
sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the "Australasian Code for
reporting of Exploration Results, Exploration Targets, Mineral
Resources and Ore Reserves" (JORC Code). Mr. Maynard consents to
inclusion in the announcement of the matters based on this
information in the form and context in which it appears.
Glossary:
Mineral Resource - A concentration or occurrence of solid or
liquid material of economic interest in or on the Earth's crust in
such form, grade (or quality), and quantity that there are
reasonable prospects for eventual economic extraction. The
location, quantity, grade (or quality), continuity and other
geological characteristics of a Mineral Resource are known,
estimated or interpreted from specific geological evidence and
knowledge, including sampling. Mineral Resources are sub-divided,
in order of increasing geological confidence, into Inferred,
Indicated and Measured categories.
Inferred Mineral Resource - that part of a Mineral Resource for
which quantity and grade (or quality) are estimated on the basis of
limited geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological grade (or quality)
continuity. It is based on exploration, sampling and testing
information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. An
inferred Mineral Resource has a lower level of confidence that that
applying to an Indicated Mineral Resources and must not be
converted to an Ore Reserve. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration.
Reverse Circulation Drilling - Often referred to as RC drilling,
is a method of drilling which uses dual wall drill rods that
consist of an outer drill rod with an inner tube. These hollow
inner tubes allow the drill cuttings to be transported back to the
surface in a continuous, steady flow. Drill results using this
method with adequate QA/QC can be used in Mineral Resource
Calculations
DSO - Direct Shipping Ore
XRF - X-ray fluorescence, used for elemental analysis and
chemical analysis, particularly in the investigation of metals in
the resource industry.
QA/QC - Quality Assurance/Quality Control - This is the
combination of quality assurance, the process or set of processes
used to measure and assure the quality of a product, and quality
control, the process of ensuring products and services meet
consumer expectations. In this case an independent verification of
the laboratory analysis result.
Deleterious Elements - Elements that can be detrimental to the
overall product, such as Phosphorus.
Fe - Iron
Al - Aluminium
Ca - Calcium
K - Potassium
Mg - Magnesium
Mn - Manganese
Na - Sodium
P - Phosphorus
S - Sulphur
Si - Silica
Mt - Million Tonnes
BIF - Banded Iron Formation
Cap - the upper portion of the deposit, at surface and enriched
in clay material and organics
Appendix
Sample Target Easting Northing Fe(2) Fe
No O(3)
UFO_TP001 Ridge H 777057 7426167 82.81 57.92
----------------- -------- --------- ------ ------
UFO_TP002 Ridge H 777015 7426176 61.18 42.79
----------------- -------- --------- ------ ------
UFO_TP003 Ridge H 776968 7426205 48.11 33.65
----------------- -------- --------- ------ ------
UFO_TP004 Ridge G 776862 7426800 48.38 33.84
----------------- -------- --------- ------ ------
UFO_TP005 Ridge G 776874 7426843 56.30 39.38
----------------- -------- --------- ------ ------
UFO_TP006 Ridge F 776027 7427340 58.22 40.72
----------------- -------- --------- ------ ------
UFO_TP007 Ridge F 776019 7427378 84.69 59.24
----------------- -------- --------- ------ ------
UFO_TP008 Ridge F 775869 7427323 61.65 43.12
----------------- -------- --------- ------ ------
UFO_TP009 Ridge H 776915 7426213 74.12 51.84
----------------- -------- --------- ------ ------
UFO_TP010 Ridge H 777167 7426127 77.85 54.45
----------------- -------- --------- ------ ------
UFO_TP011 Ridge F 777186 7426725 71.36 49.91
----------------- -------- --------- ------ ------
UFO_TP012 Ridge F 777098 7426717 70.54 49.34
----------------- -------- --------- ------ ------
UFO_TP013 Ridge F 777092 7426758 65.48 45.80
----------------- -------- --------- ------ ------
UFO_TP014 Ridge F 777265 7426733 42.56 29.77
----------------- -------- --------- ------ ------
UFO_TP015 Ridge F 777204 7426671 45.37 31.73
----------------- -------- --------- ------ ------
UFO_TP016 Ridge E 773166 7429110 62.23 43.53
----------------- -------- --------- ------ ------
UFO_TP017 Ridge E 773104 7429089 47.57 33.27
----------------- -------- --------- ------ ------
UFO_TP018 Ridge E 773027 7429078 45.99 32.17
----------------- -------- --------- ------ ------
UFO_TP019 Ridge E 772970 7429083 45.85 32.07
----------------- -------- --------- ------ ------
UFO_TP026 Outcrop 773948 7428683 37.34 26.12
----------------- -------- --------- ------ ------
UFO_TP027 Outcrop 774046 7428640 39.45 27.59
----------------- -------- --------- ------ ------
UFO_TP028 Outcrop 774125 7428595 52.07 36.42
----------------- -------- --------- ------ ------
UFO_TP029 Outcrop 774191 7428544 56.89 39.79
----------------- -------- --------- ------ ------
UFO_TP030 Outcrop 774245 7428599 41.30 28.89
----------------- -------- --------- ------ ------
UFO_TP031 Outcrop 774083 7428689 24.52 17.15
----------------- -------- --------- ------ ------
UFO_TP032 Ridge E 774970 7428422 59.83 41.85
----------------- -------- --------- ------ ------
UFO_TP033 Ridge E Eastern 775286 7428357 52.35 36.62
----------------- -------- --------- ------ ------
UFO_TP034 Ridge E Eastern 775199 7428418 46.28 32.37
----------------- -------- --------- ------ ------
UFO_TP035 Ridge E Eastern 775269 7428506 42.47 29.71
----------------- -------- --------- ------ ------
UFO_TP036 Ridge E Eastern 775597 7428577 40.72 28.48
----------------- -------- --------- ------ ------
UFO_TP037 Ridge E Eastern 775811 7428619 54.38 38.04
----------------- -------- --------- ------ ------
UFO_TP038 Ridge E Eastern 775911 7428699 35.22 24.63
----------------- -------- --------- ------ ------
UFO_TP039 Ridge E Eastern 776079 7428710 41.59 29.09
----------------- -------- --------- ------ ------
UFO_TP040 Ridge E Eastern 776185 7428698 50.73 35.48
----------------- -------- --------- ------ ------
UFO_TP041 Ridge E Eastern 776328 7428700 45.78 32.02
----------------- -------- --------- ------ ------
UFO_TP042 Ridge E Eastern 776462 7428690 78.36 54.81
----------------- -------- --------- ------ ------
UFO_TP043 Ridge E Eastern 776590 7428735 40.48 28.31
----------------- -------- --------- ------ ------
UFO_TP044 Ridge E Eastern 776766 7428711 38.49 26.92
----------------- -------- --------- ------ ------
UFO_TP045 Ridge E Eastern 776866 7428667 59.39 41.54
----------------- -------- --------- ------ ------
UFO_TP046 Ridge H 777264 7426088 87.27 61.04
----------------- -------- --------- ------ ------
UFO_TP047 Ridge H 777343 7426027 65.31 45.68
----------------- -------- --------- ------ ------
UFO_TP048 Ridge H 777431 7425975 32.40 22.66
----------------- -------- --------- ------ ------
UFO_TP049 Ridge H 777517 7425937 28.45 19.90
----------------- -------- --------- ------ ------
UFO_TP050 Ridge H 777623 7425910 30.43 21.28
----------------- -------- --------- ------ ------
UFO_TP051 Ridge H 776820 7426220 89.17 62.37
----------------- -------- --------- ------ ------
UFO_TP052 Ridge H 776733 7426263 76.37 53.42
----------------- -------- --------- ------ ------
UFO_TP053 Ridge H 776626 7426295 79.12 55.34
----------------- -------- --------- ------ ------
UFO_TP054 Ridge H 776517 7426360 51.89 36.29
----------------- -------- --------- ------ ------
UFO_TP055 Ridge H 776416 7426388 32.32 22.61
----------------- -------- --------- ------ ------
UFO_TP056 Ridge G 776750 7426860 80.58 56.36
----------------- -------- --------- ------ ------
UFO_TP057 Ridge G 776955 7426792 44.40 31.06
----------------- -------- --------- ------ ------
UFO_TP058 Ridge G 777364 7426705 57.58 40.27
----------------- -------- --------- ------ ------
UFO_TP059 Ridge G 777026 7426816 69.67 48.73
----------------- -------- --------- ------ ------
UFO_TP060 Ridge G 776976 7426821 33.46 23.40
----------------- -------- --------- ------ ------
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