(Alliance News) - Alien Metals Ltd on Tuesday said it has identified maiden exploration targets at its Hamersley province iron ore projects in Australia.
Shares in Alien, which has mining projects in Australia and Mexico, were up 17% at 0.39 pence in London in afternoon trading.
An extensive data review of projects in Hamersley province, including the Brockman iron and Hancock Ranges projects, has identified five priority prospects and proposed further studied and next stage exploration at all of these, the company said.
At Brockman, three targets focus on historic high-grade BHP prospects numbers 15, 19, and 20, the company said, adding that it intends to follow-up the targets with surface mapping and sampling to support a maiden drilling programme.
At Hancock ranges, the company has identified two key targets. These are the Sirius exploration prospects - previously drilled by Volta Mining - and Kalgan prospect, which Alien "believes has excellent potential".
Both tenements cover larger areas of Hamersley sediments, prospective for deposits of high-grade direct shipping oron ore.
Alien intends for its geological tram to be on the ground as soon as possible.
Technical Director Bill Brodie Good said: "The company is extremely pleased with the results and findings of the detailed data compilation, which helped identify maiden exploration targets for the Brockman iron and Hancock Ranges projects. The field work undertaken last year replicated the high-grade direct shipping iron ore results previously recorded at the projects; our next objectives are to carry-out further exploration work, including a maiden drilling programme, to convert the exploration targets into JORC resources.
"The company is excited about the potential to add significant value to the projects and looks forward to updating the market of progress in due course."
By Anna Farley; annafarley@alliancenews.com
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