RE: Any factual posts ?3 Nov 2020 15:04
Bored with the sp?
Have another read from the land of the midnight sun...
The newly acquired area lies adjacent to the Citronen zinc-lead project which is owned by Ironbark Zinc Limited
Citronen, one of the largest undeveloped zinc-lead projects, hosts a resource in excess of 13 billion pounds of contained zinc and lead metal
Alien Metals will soon be starting with a detailed review of historical data available over the project area
The FTSE Aim-All Share minerals exploration and development company Alien Metals Ltd (LON: UFO) has recently acquired an exploration licence for a 208 square kilometer area in northern Greenland. The area is surrounded by the world class zinc-lead project Citronen, which is owned by the Ironbark Zinc Limited. The Citronen project is one of the world's largest undeveloped zinc-lead projects, hosting 13 billion pounds of contained zinc and lead metal, with a JORC resource of 131.1 million tonnes @ 4.5 per cent zinc and lead. Alien Metals is expected to do a detailed review of historical data available over the project area soon.
The license
Alen Metals has acquired the licence until 31 December 2023. It is in line with the company's strategy to identify the counter-cyclical opportunities in first class mining jurisdictions with excellent upside potential. The licence area covers the prospective ground on the east and west of the Citronen project area. In order to gain a better understanding of the licence potential and to aid maiden exploration, the company had begun with the process of obtaining all historical information relevant to the licence area. Discussions on the joint venture and earn into the newly acquired exploration licence had also started with third parties.
CEO’s take
CEO Bill Brodie Good has said that the group along with its advisers are continuously assessing new projects and are identifying an opportunity to secure an exploration footprint in northern Greenland.
Besides, he added that the company is focusing on undertaking a comprehensive review of the licence area to guide initial work programmes immediately.
Bill said Greenland possesses a great potential in the resource sector and is known for its low-sovereign risk and prospective geology.
Projects undertaken by Alien Metals
San Celso and Los Campos Silver Projects, Mexico (100 per cent)
On 26 October, the company announced that IBK Capital investment bank has agreed to support Alien’s Mexico silver projects.
Followed by the successful earn-in transaction with Capstone Mining regarding the Donovan 2 copper-gold project of Alien Metals, as announced on 21 October, the company is presently working with IBK Capital on a similar marketing process for the San Celso and Los Campos silver projects in Mexico.
According to IBK, both the aforesaid projects will offer an attractive entry into one of the world's premier silver belts. Following the recent field work indicating the historic underground
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