New RNS - Alien Metals Limited Encouraging soil sampling results at ELA 47/442212 Nov 2020 09:58
https://uk.advfn.com/stock-market/london/UFO/share-news/Alien-Metals-Limited-Encouraging-soil-sampling-res/83666482?xref=newsalert
Encouraging results of soil sampling at ELA 47/4422, surrounding Elizabeth Hills Silver Project
Alien Metals Ltd (LSE AIM:UFO) (Alien Metals or the Company), a minerals exploration and development company, is pleased to advise that it has received the results of the laboratory analysis for approximately 370 soil samples covering the eastern portion of ELA 47/4422, which surrounds the Company's Elizabeth Hill Silver Project (Figure 1). The soil samples were processed by ALS Global in Perth for low level standard suite analysis. The Company agreed to acquire the tenement ELA 47/4422 as announced on 1 October 2020 which as part of the deal included approximately 600 soil samples, 370 of which have been found to be within ELA 47/4422.
The results are presented in Figures 2 to 7 below, showing the anomalous areas for nickel, copper, zinc, silver, palladium and platinum. Encouragingly the anomalies are coincident with structures and lineaments, which further supports the Company's strategy of follow-up with detailed geological mapping and additional sampling.
Highlights:
- ELA 47/4422 includes priority prospects surrounding the Company's Elizabeth Hill Silver Project, including: Sunchaser (Zn), Conquest: (Cu/Zn/Pb), Carver (precious metals), Munni Munni East (precious metals).
- ELA 47/4422 was conditionally acquired in September 2020 and included the acquisition of approximately 600 soil samples of which 370 are within the permit area.
- Samples have been processed by ALS Global in Perth and have returned anomalous results for nickel (Ni), platinum group elements (PGEs), copper (Cu), gold (Au) and silver (Ag).
- Results and interpretation to be incorporated into a wider review of the project and upcoming mapping and soil sampling program planned for the license area.
Chief Executive Officer, Bill Brodie Good said :
"These initial soil sample results are very encouraging and at such an early stage to the new tenement acquisition, add some new targets already into the list. The anomalous trends appear consistent with mapped and interpreted structures and contacts, which further cements their veracity as genuine new targets.
"More detailed review of this recent data will be undertaken in conjunction with the ongoing historic data review, which will lead to next stage exploration work to be planned; but as a start, we are really pleased with the results and looking at the recent major discoveries in the area, we feel there is considerable potential to identify a new mineral discovery and are keen to progress this project on several fronts."