WH Ireland Research Note30 Mar 2022 09:46
https://twitter.com/research_tree/status/1509066653698514945
Alien announces today that it has extended the potential iron ore resource at
Han**** in Western Australia. Results back from the laboratory show that there
is a minimum of 3.5km of new drill targets for near-surface, high-grade, Direct
Shipping Ore (DSO) for Alien to test. Iron ore at Han**** is found in defined
“ridges” that can be traced at surface and in many places represents the DSO
resource.
The analyses from 67 samples collected from regional mapping during the last
drilling program have been received. Nearly one third of the samples from the
surface graded >60% Fe with an average of 63%. The samples also contained low
deleterious elements. This is not the end of the ridge potential by any means,
and with Alien having defined a further 3.5km of drill targets, there are still
extensions to known ridges and further ridges to consider.
WHI View: Alien is defining a new area of DSO at Han****, an area that could be
company-changing with an expected low capex and opex DSO operation and with
high returns; all well within Alien’s technical capability to handle. With i) further
potential at Brockman iron ore project (also in Western Australia), where a
maiden drilling campaign is being planned; ii) the drilling currently underway in
Mexico (RNS 27.3.2022) and; iii) a whole exploration program being designed
around Munni Munni and Elisabeth Hill in Western Australia, Alien will have
plenty of news flow to demonstrate its progress to the market in what could be a
company-defining year.
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