Alien Metals expands Hancock footprint with two new exploration leases

Wed, 21st May 2025 14:29

(Alliance News) - Alien Metals Ltd on Wednesday said it has been granted two new exploration leases adjacent to its flagship Hancock iron ore project in Western Australia, marking a significant expansion of its footprint in the Pilbara region.

The Australia-focused minerals exploration and development company said the newly awarded leases, E47/5157 and E47/5158, border its existing mining and exploration permits and increase the project's total exploration area by more than 50%, from 41 square kilometres to 63 square kilometres. The company noted that the leases were granted with no Native Title objections.

Alien said preparations are underway to mobilise a geology team to begin a rock chip sampling and assay programme across the new permits, with results expected to inform a future drilling campaign.

"The successful grant of two new exploration leases adjacent to our flagship Hancock project represents a strategic expansion of our footprint in the region," said project development general manager Christopher Maiolo. "The high prospectivity of these two leases should not be underestimated."

The company also continues to work with BHP Group Ltd to finalise an access deed that would allow issuance of a further exploration lease, E47/5159.

Alien Metals holds a 90% interest in the Hancock project, which contains a JORC-compliant resource of 8.4 million tonnes at 60% iron. It aims to deliver a 2 million tonne per annum direct shipping ore operation over a 10-year mine life.

Shares in Alien Metals were up 10% at 0.094 pence in London on Wednesday afternoon.

By Eva Castanedo, Alliance News reporter

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