JV is next....30 Oct 2020 16:13
UFO has completed a detailed geological mapping and sampling programme at the Hamersley iron ore projects in Australia.
What’s more, field observations indicate that the BHP 19 and BHP 20 prospects may be part of same larger system, and additional prospective iron ore units have been mapped at the Brockman iron project.
Preliminary handheld XRF results are consistent with those observed in the 2019 field programme, with reported ranges of between 40% and 70% iron.
The next step will be to undertake drilling.
"The findings from the recently completed field programme are extremely pleasing and further validate the company's exploration targets,” said chief executive Bill Brodie Good.
“The field work has expanded upon the previous site visit, with the validation of recent research and the potential increase in projected DSO mineralisation within both tenements. It should be noted that the field team advised how busy both areas were in terms of neighbouring companies working in the region which further encourages us to push on with both projects.”
The two projects are within the Hamersley Province of Western Australia, which is one of the premier iron ore producing regions of the world
Another read of latest Rns. Noted BHP 19 and 20
Could prove SIGNIFICANT as i believe it is highly probable that BHP might be looking at a JV with Ufo. (historically the Silver Kings of mining in W.) Aust). They only gave up these licences 21 odd years ago because of the big slump in the silver price to as low as $5 oz. I believe it is highly probable they regretted their decision and also their ops discovered somevof the biggest ever silver nuggets in history what more lies beneath?
https://www.proactiveinvestors.co.uk/LON:UFO/Alien-Metals-Ltd/
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