RE: Appreciation25 May 2021 15:51
2.5p target in next 2 weeks. Imo
Extract from share-talk
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to advise that it has commenced the second phase of drilling on the Han**** Licence, part of the Hamersley Direct Shipping Iron Ore High Grade Project in the Pilbara region of Western Australia following the excellent maiden drilling program recently completed.
The Company had sufficient confidence from the first batch of drill results from Phase 1 – both analytically and geologically – to return to the field and push on with an in-fill and extension drilling program, using the same drill rig and drill team. Further, preliminary assay results have been received now on all samples from the Phase 1 drill program and, once QA / QC is completed and reviewed, we look forward to updating the market as soon as possible.
The Company’s focus for Phase 2 of drilling will be to seek a potential maiden resource on the Sirius Extension Prospect, adding knowledge and potential to the Ridge E Direct Shipping Ore (“DSO”) anomaly already defined and will also test some newly identified DSO targets within the main area already drilled, including ridge C. If possible the Company may also consider surface reconnaisacne and mapping on some untested areas to further expand its knowledge of the project.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: ” With the recent announcement of our plans to increase our interest in the Hamersley Iron Ore DSO Project from 51% to over 90%, as well as the robust global demand for Iron Ore and its recent price surge, we are really excited to be driving this next Phase of drilling forward at Han**** while continuing to work on the necessary paperwork to commence maiden drilling on the exciting Brockman Licence further west.
“We look forward to updating the market further as we proceed to move the Hamersley projects up the value curve to deliver value for shareholders.”
Figure 1: Hamersley Iron Ore Project, location of licences, Western Australia, May 2021
Figure 2: Detail of drill hole locations, Han**** Ridges A-E and Kalgan Prospect, Han**** Tenement, Hamersley Iron Ore Project, March 2021
For further information please visit the Company’s website at www. alienmetals.uk, or contact:
Alien Metals Limited
Bill Brodie Good, CEO & Technical Director
St-James’ Corporate Services, Company Secretary
Tel: +44 20 7796 8644
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company’s focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.
In 2019, the company acquired 51% of the Brockman and Han**** Ranges high-grade (Direct Shipping Ore) iron ore
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