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https://www.rns-pdf.londonstockexchange.com/rns/5175M_1-2021-9-21.pdf
Alien Metals announces maiden Inferred iron ore Resource in excess of 10Mt at 60.4% Fe :)
Highlights
· The initial Inferred JORC compliant resource stands at 10.4Mt @ 60.4% Fe including 7.8Mt @ 60.1% at the Sirius Extension target, 1.5Mt @ 61.2% at the Ridge E target and 1.1Mt @ 61.9% Fe at the Ridge C target.
· The Mineral Resource Statement ("MRE") has been restricted to material that falls within an optimised open pit shell and within the tenement boundary.
· Low levels of deleterious elements indicating that Han**** could produce high-quality Direct Shipping Ore (DSO) product.
· Ridges E and C are only partially tested to date, and the Company feel they have considerable potential to define further DSO grade material.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
"We are really pleased to have delineated in excess of 10Mt of DSO iron ore with our initial MRE at Han****. With only a quarter of the Western Ridges targets tested to date, we believe there is considerable scope to grow the DSO resource over the next 6 months.
"Having a sizeable maiden resource is encouraging; having DSO material with low impurities is even more pleasing and we are pushing ahead on the scoping study work with Mining Plus and continued planning for the Phase 3 drilling programme."
good stuff Aliens , lets sell that 7.8Mt at Sirius and then work up the rest of the ridges , only ~15% been explored on the Han****. I think Brockman will be even more of a beast as we know. Although Iron is down of late I am hoping we starting moving closer to the recent ATH 3p. Slow and steady
It's amazing look like I might put back on my tshirt. Alien metals going to the moon
Now we know why UFO's SP went up 8% on 16th & 8% on 17th September:
"The Mineral Resource Statement has an effective date of 16 September 2021."
AIM is very leaky. Someone bought 7.5 shares @0.86p (10% over ask at the time).
SP dropped 8% on Monday due to silver & iron ore being down (which are now going back up).
Looking forward to a nice rise now :)
Couldnt be any happier right now absolutely amazing stuff,just to think we have in excess of 10 million tons and we still have rest of han**** and brockman to drill
New to this BB. Invested for 12 months. This resource will only get bigger that is for sure. Pretty sure I remember TP valueing based on 10m tonnes. But still more of the area is untouched than touched. North we go I suspect.
Hopefully everyones patience over last 6 months+ will now be rewarded with a significant rise in sp.
yeah max I don't like how it seems the info got out prior to RNS, wont affect us long term holders but still very leaky AIM
Max - is this in line with expectations for the results?
How delightful to be wrong. Smiller - you called it.
tuff , lucky guess really , felt it was due today, its good news it derisks us and phase 3 will only add more and more to the resource . Now the question Bill has to answer is are we selling or we going for it like Fenix . if DSO sits around 100-120$ and costs around 70-80 then there is some profit to be made I think 20-30$ per tonne , but will take time. Or we sell it for fractions on the dollar but grow faster, interesting decision
Well done and good luck all Aliens!
Bloody brilliant RNS!
Just think about added value with EH too!
Unbelievable potential…
Do we think there is a need to raise funds for anything anytime soon. Ie will any rise to the SP be wiped out unless placing at higher than Current SP
@Uforus27, the est target for the whole of Hanc0ck was 5-10M tonnes.
I was praying for 10M (for initial JORC), but would have even been happy with 5M.
Main thin is as Bill said before, "Tens of kilometres that are completely untested. Much bigger potential. Bigger than what we have already defined and found!”
So our Resource Estimate for Hanc0ck will now be revised significantly upwards :)
This was nearly 3p less than a year ago
anything can happen now, jv or big cheque just let market digest this and see what transpires. double bubble today any one?
*exploration target for Hanc0ck will now be revised significantly upwards :)
your point is mornington?? the whole sector is down over 50% and we had a pump and dump crew on here at that time who have well and truly gone. and back then we had nothing really, we have drill results coming, a jorce, further drilling planned. lots to be excited about and hard facts and figures coming through
My point is if it was nearly 3p prior to the current news and further prospects then we are currently extremely undervalued?
People sell on news. Might try getting in once the batch of sellers have loaded off so about 10am i'll consider it once we get a nice dip.
Sorry, I keep making typos, *the est target for the whole of Hanc0ck was 5-15M tonnes.
So amazing start for 1st JORC at Hanc0ck. Now about to start in-fill drilling for 2nd JORC at Hanc0ck.