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(Alliance News) - Alien Metals Ltd on Tuesday said it has undertaken an initial review of the data supplied by Karratha Metals Group Ltd in relation to the mineral exploration company's acquisition of the Elizabeth Hill silver mine project announced earlier this month.
Elizabeth Hill is located in the Pilbara region, Western Australia, approximately 45 kilometres from the town of Karratha. It was mined underground between 1998 and 2000 and generated over 1 million ounces of silver.
Alien Metals says that the initial review of the data supplied which includes historical sampling and test results, independent reports on the project and extensive historic exploration data, gives Alien a platform from which to develop Elizabeth Hill.
Technical Director Bill Brodie Good commented: "We are very keen to review and compile in detail all the available data plus any new data. This will provide us with the information to execute a cost effective but highly focussed next stage exploration plan which will add significant geological and economic information to the project, and therefore advancing it accordingly."
The report compiled by Karratha states that Elizabeth Hill has "significant" unmined resources.
Alien Metals shares were up 14% at 0.21 pence per share on Tuesday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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