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Pin to quick picksAlien Metals Share News (UFO)

Share Price Information for Alien Metals (UFO)

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Share Price: 0.575
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IN BRIEF: Alien Metals confirms high-grade silver at Elizabeth Hill

Mon, 25th Apr 2022 20:23

Alien Metals Ltd - London-based exploration company focused on Australia, Mexico and Greenland - Reports final assay results from the inaugural drilling programme at the high-grade Elizabeth Hill Silver project in the Pilbara Region of Western Australia. Alien Metals confirms "exceptionally" high-grade silver at Elizabeth Hill and sees further high-grade silver and base metals at Elizabeth Hill. Results from 15 reverse circulation drill holes included 8 metres at 4,233 grammes a tonne silver from a depth of 66 metres in drillhole AMEHRC009; and 2m at 1,550 g/t silver from a depth of 108m in drill hole AMEHRC012, which the company said represented a potential new mineralised zone 400m south of the historic Elizabeth Hill mine.

Chief Executive Officer Bill Brodie Good says: "The intersection within hole AMEHRC0012, which was drilled on the south of the orebody, is significant as it encountered high-grade mineralisation at a depth where we always thought there might be a possible repetition of the Elizabeth Hill silver orebody.

"It is also encouraging to see the presence of wide intersections of base metals in the eastern mafic units which run parallel to the Elizabeth Hill silver deposit in the final batch of assay results. This may present as significant base metals VMS style target. The company is currently working with our technical consultants to gain a better understanding of this target ahead of a follow-up exploration programme."

Current stock price: 0.76 pence

12-month change: down 28%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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