Alien Metals Ltd - London-based mineral miner with projects in Mexico, Australia and Greenland - Says inaugural drilling programme is due to begin in coming days at Elizabeth Hill Silver Project in Western Australia. Plans to drill seven diamond core holes totalling 650 metres to test the extension of known mineralisation in the area. Aims to test for the presence of a far larger mineralised system, which the company believes is present.
Elizabeth Hill was previously mined between 1998 and 2000, in which time is produced 1.2 million ounces of silver from only 16,800 tonnes of ore, for a grade of around 2,195 grams of silver per tonne. Says mining stopped when the silver price fell below USD5 dollars per ounce. Current prices sit around USD25 for each ounce.
Chief Executive Bill Brodie Good says: "The company believes that a number of [historical] targets were never fully followed up on, hence this initial 7 hole programme will focus on the historic orebody and its immediate surroundings. The focus of the programme is the production of the highest quality core from the main zones within the orebody to enable us to better understand the orebody and develop next stage work."
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By Scarlett Butler; scarlettbutler@alliancenews.com
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Alien Metals (UFO)