(Alliance News) - Alien Metals Ltd on Monday said it has been awarded an exploration licence spanning 208 kilometres squared in northern Greenand, surrounding Ironbark Zinc Ltd's Citronen zinc-lead project.
The mining exploration and development company said Citronen hosts a resource in excess of 13 billion pounds of zinc and lead metal and is one of the largest undeveloped zinc-lead projects globally
Alien Metals will soon commence a review of historical data available over the project area.
The licence is valid until December 31, 2023, and continues the company's strategy of identifying opportunities in first class mining jurisdictions with excellent upside potential, Alien Metals asserted.
"The company and its advisers continue to assess new projects and identified an opportunity to secure an exploration footprint in northern Greenland on strike and adjacent to the world class undeveloped Citronen zinc-lead project. Greenland is known for its low-sovereign risk, prospective geology and great potential in the resource sector," Chief Executive Bill Good said.
"The company's immediate focus is to undertake a comprehensive review of the licence area to guide initial work programmes."
Alien Metals also said it is working with its North American advisor IBK Capital on marketing its San Celso and Los Campos silver projects in Mexico.
"IBK considers both projects offer an attractive entry into one of the world's premier silver belts and will soon commence marketing of the projects to a range of potential investors and project partners," Alien Metals said.
Alien Metals shares were up 12% at 1.90 pence each in London on Monday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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