(Alliance News) - Alien Metals Ltd on Thursday announced the discovery of gold at one of its concessions in the Mexican state of Zacatecas.
Alien Metals has found float samples from the Donovan 2 asset of up to 0.45 parts per million of gold, or 0.45 grams of gold per tonne of ore.
The company continues to find "high-grade" mineralisation in historic workings at the site which are open along strike, and there are further signs of a massive sulphide system at depth.
Alien Metals is now to carry out a ground-induced polarisation geophysical survey to better understand and define the north-west mineralised trend ahead of drilling.
During the third quarter of 2019, alongside Donovan 2, Alien Metals will also be carrying out follow-up work at the Los Campos and San Celso concessions.
Chief Executive Peter Taylor said: "The presence of gold at Donovan 2 comes as no surprise given the Minera Frisco El Coronel gold mine is within ten kilometres of the project.
"With further exploration planned at Los Campos where the project adjoins Endeavour Silver's El Compas gold mine and at San Celso, the subject of the company's original AIM listing, Alien is delivering on its strategy of putting money into the ground and increasing confidence in the assets to potential joint venture partners."
Shares were 5.5% higher on Thursday morning at a price of 0.15 pence each.
Alien Metals (UFO)