RE: When the BIG BUYING begins21 Oct 2020 03:22
https://www.proactiveinvestors.co.uk/companies/news/906864/alien-metals-ltd-has-a-diverse-portfolio-of-commodities-to-develop-906864.html
The portfolio includes significant legacy assets from the company’s former life, in the days when it was known as Arian Silver. The assets in Mexico have significant potential, high grade, and are located in well-known mining districts adjacent to some major names in silver mining.
The company also has an interest in iron ore projects in Australia, which look highly prospective for DSO.
Mining industry professionals will know that DSO can be at a premium in the iron ore space, especially for juniors, since it means rock can be mined and shipped directly without any processing, thus saving on potentially huge investment in processing plant and equipment.
Grades taken in sampling as part of an ongoing due diligence process at Alien’s Brockman and Han**** Ranges projects have returned higher than 60% in several cases, and higher than 65% in one case.
It’s all the more significant because of the location of these projects in Australia, right in the heart of a prolific mining district, and not too far away from the famous mining export hub of Port Hedland.
In December, Alien Metals agreed to acquire the former producing silver mine, Elizabeth Hill.
One of the very few native silver mines in Australia, Elizabeth Hill is in the Pilbara region of Western Australia.
How's it doing?
In April 2020 the company released the results of an IP survey completed at Donovan 2 in Mexico, which identified two promient targets. The plan is to undertake a drill programme as soon as feasible. At the same time broker First Equity noted that the company is operating in areas that are still relatively clear of coronavirus.
In May, the company raised £275,000 of new capital so that it can expedite exploration work across projects in Mexico and Australia.
The money will also allow the company to examine strategic opportunities that are being presented to the company in the current market, it added.
The company plans to use the funds to conduct initial scout drilling at the Los Campos project area and sampling at the San Celso silver project.
It will also complete the Elizabeth Hill acquisition, commission data interpretation from the Donovan 2 copper-gold project and finalise planning for fieldwork for iron ore projects in Australia.
In July the company announced further sampling work at its Mexican silver properties.