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Alien Metals Ltd - London-based exploration company focused on Australia, Mexico and Greenland - Finds "exceptionally high" silver grades from intial stage of diamond drilling program at Elizabeth Hill project in Pilbara, Western Australia. Assays included 9.7 metres at 8,326 grams per tonne silver from 15 metres in drillhole 21EHDD003, and 24.8 metres at 829 grams per tonne silver from 2 metres in drillhole 21EHDD001.
It also finds significant results for base metals from the same intervals, including copper, nickel, cobalt, zinc and lead. The results suggest the mineralised envelope at Elizabeth Hill could be larger than previously thought. The mineralisation begins at the surface, in "highly weathered, soft and easily extractable material".
Chief Executive Officer & Technical Director, Bill Brodie Good, says: "These fantastic initial results support the company's view that the near surface oxide expression of the deposit was never fully tested, nor its potential fully explored for both the silver and the base metals present. Some of these grades have to be some of the highest for a silver project in Australia."
Alien Metals expects more drilling results in the coming weeks.
Current stock price: 0.79 pence, up 26% on Thursday in London
12-month change: down 19%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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