RE: New RNS - Alien Metals Limited Drilling targets identified at Hamersley Projects29 Oct 2020 12:00
https://www.rns-pdf.londonstockexchange.com/rns/6447D_1-2020-10-29.pdf
Maiden Drilling targets identified at Hamersley Iron Ore Projects Alien Metals Ltd (LSE AIM:UFO) (“Alien Metals” or the “Company”), a minerals exploration and development company, is pleased to advise that further to the RNS dated 9th October 2020, the Company’s technical team is able to report on the successfully completed detailed geological mapping
and sampling programme at the Company’s Hamersley Iron Ore Projects.
Highlights:
- Detailed geological mapping and sampling completed over four of the five priority prospects
o Field observations indicate that the BHP 19 and BHP 20 prospects may be part of same larger system
o Additional prospective iron ore units mapped at the Brockman Iron project
- Programme has been successful in validating previously announced Maiden Exploration Targets
across both projects
- 95 samples were taken across the projects, with assay results expected late October 2020
o Preliminary Handheld XRF results are consistent with those observed in the 2019 field programme, with reported ranges of 40-70% Fe
o High-grade sample locations extend previously mapped prospective areas which are outside of those incorporated into the Company’s maiden Exploration Target
- Final results from sample assays and detailed mapping to assist with preparation of maiden drilling campaign
- Alien Metals has commenced preparing a Program of Works (“POW”) for submission ahead of drilling
Chief Executive Officer, Bill Brodie Good said: “The findings from the recently completed field programme are extremely pleasing and further validate the Company’s exploration targets. 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 Company’s technical team is compiling and finalising the geological mapping across the Hamersley projects which will give us valuable information ahead of maiden drilling programmes. With over 90 samples collected from only four prospects in a short field programme, we are very encouraged and look forward to some comparable analytical results of the XRF readings to complement the visible interpretations made by the team. We are already considering the follow up program to cover the fifth target not reached yet which in itself still has great potential.”