Alien Metals Ltd - London-based exploration company focused on Australia, Mexico and Greenland - Results from a rock chip sampling programme conducted as part of its Hancock project phase three drilling confirms potential for additional direct shipping ore-grade iron mineralisation at surface.
Rock chip samples numbered 67, with 25 returning assays of greater than 60% iron and with an average grade of 63% iron.
Over 3 kilometres strike length of new drill targets were identified, and support the company's belief of repeat high-grade ridges across the Hancock project.
"Ongoing exploration across the Hancock project continues to deliver outstanding results. To have identified further potential high-grade ridges is very encouraging and, once the weather permits, we will aim to continue our programme of drill testing," says Chief Executive Officer Bill Brodie Good.
Current stock price: 0.83 pence, up 7.5% in London on Wednesday
12-month change: down 12%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Alien Metals (UFO)