RE: Next EH World class grades + dev plan + Hanc0ck JV = 1.00p+ 2025.30 Jul 2025 08:49
transformational exploration target at han**** supports greater near-term strategic value
alien metals limited (aim: ufo), a minerals exploration and development company, is pleased to report completion of a helicopter-supported mapping and rock chip sampling programme that has identified significant iron mineralisation on the ridges of recently acquired tenure at its flagship han**** iron ore project located near the iron ore mining centre of newman, in the pilbara region of western australia.an exploration target[1] of up to 27 million tonnes and grade of 62% fe has been defined, supported by recent exploration work. the lower end of the target is 12 million tonnes at 58% fe. this exploration target is in addition to the mining reserve and mineral resource estimates, as announced on 08 february 2024.
this exploration target is supported by the rock chip sampling and mapping programme completed by a team of geologists in june across the recently granted exploration licences e47/5157 and e47/5158, as announced on 21 may 2025.
the jorc code mandates that the competent person cautions that the potential quantity and grade of the exploration target is conceptual in nature, that there has been insufficient exploration to estimate a mineral resource and that it is uncertain if further exploration will result in the estimation of a mineral resource.
highlights
· the exploration target of up to 27 million tonnes at grades of up to 62% fe is in addition to the 8.4mt @ 60.0% fe in mining reserve and mineral resource estimates.
· strategic value of the han**** iron ore project significantly increased in a landscape of robust investment activity in the pilbara iron ore region.
· bhp access agreement fully executed for the pending tenement e47/5159.
· high grade, direct ship iron ore remains in strong demand across the globe.
guy robertson, executive chairman, commented:
"the exploration target at our han**** iron ore project is an outstanding result that further validates the scale and quality of this high-grade opportunity. the exploration target shows that the han**** iron ore project could be materially larger than previously considered and positions alien in a very strong commercial and technical position as we advance discussions with potential partners to develop this project."
"with infrastructure access progressing and market interest in high-grade, low-impurity iron ore intensifying, alien is exceptionally well-placed to complete a value-accretive transaction. the board remains focused on delivering outcomes that unlock the full value of han**** for shareholders while preserving our strategic optionality across the broader portfolio."