RNS...at least we know Rod is thinking if us!23 Nov 2022 08:31
Extract
KeywordCompanyEPIC/TIDMSEDOL/ISIN
Search
Price
Announcements
Fundamentals
News
Article
RSS
Alien Metals Limited (UFO)
Add to Alerts list
Print
Wednesday 23 November, 2022
Alien Metals Limited
Targeted exploration drilling at Elizabeth Hill
RNS Number : 3300H
Alien Metals Limited
23 November 2022
Trading Symbols
AIM: UFO FWB: I3A1
23 November 2022
Alien Metals Ltd
("Alien Metals" or "the Company")
Targeted exploration drilling 100% owned Elizabeth Hill Project
Initial observations of results
Alien Metals Ltd (LSE AIM:UFO) an iron, precious and Platinum Group Metals development company is pleased to advise that it has recently completed a reverse circulation drilling programme at its 100% owned Elizabeth Hill Silver Project ("Elizabeth Hill") and Munni Munni PGE Project ("Munni Munni") in the west Pilbara of Western Australia.
Highlights:
- Sulphides observed in drill holes at Elizabeth Hill and Munni Munni confirming continuation of mineralising structures
- Initial pXRF results indicate above background concentrations of both base metals and silver
- Wide zones of alteration encountered indicating continuity of silver hosting structures
- Priority samples collected and submitted for assay with balance of samples to be assayed in due course
- Follow up work now being planned
Rod McIllree, Executive Chairman of Alien Metals, commented:
"This extensional exploration drilling at depth and along strike of known metal occurrences strengthens the teams understanding of the geology and mineralised system as well as proving the expanded potential of Australia's highest grade historical silver mine. In addition, new ideas have been tested for base metal concentrations along the main Munni Munni fault on which the Elizabeth Hill silver deposit also sits. The exploration team is now focused and learning in real time to optimize future exploration activity at both project areas. This, combined with the continued advancement of the Han**** iron project towards production in 2023, positions the Company very well for shareholders to benefit from near term cash flow from production as well as making significant new discoveries in this highly mineralized region.
The Elizabeth Hilland Munni MunniProject
The Elizabeth Hill and Munni Munni Project is a contiguous block of tenements held by the Company that are prospective for silver and Platinum Group Elements (PGEs). The geology is interconnected and there are multiple styles of mineralization with numerous untested targets for both silver and PGE mineralisation.
A picture containing diagram Description automatically generated
Figure 1: Location of the Elizabeth Hill and Munni Munni Project areas, Pilbara, Western Australia
Munni Munni itself has significant PGE mineralization with a historically stated 2004 JORC resource of:
24 million Mt @ 2.9g/t Platinu
Sign In
Follow the stocks
