RE: Tick up12 Nov 2019 07:36
12 November 2019
Alien Metals Ltd
(“Alien”, “Alien Metals” or “the Company”)
Site visits confirm DSO iron ore potential up to 65% Fe at Han**** Ranges and Brockman projects
Alien Metals Limited, the AIM quoted mineral exploration and development company, is pleased to provide shareholders with an update following the recent site visit undertaken by its technical consultants as part of the due diligence on the Han**** Ranges and Brockman iron ore projects. The Company has an exclusive option to acquire 51% of these projects and the site visit has formed part of the due diligence by Alien (see the Company’s announcement dated 20 September 2019 for further information on these projects and the option).
Highlights:
Independent laboratory analysis of 17 rock chip samples taken from both tenements has highlighted the high-grade direct shipping ore (DSO) potential
Results suggest that both projects potentially host iron ore mineralisation comparable to that being mined by the major operating companies in the region. High-grade assay results include:
Sirius Extension prospect: 64.2% Fe
Kalgan prospect: 63.9% Fe
BHP 20 prospect: 60.3% Fe
BHP 19 prospect: 65.4% Fe
The site visit confirmed the locations of the 2013/14 Volta Mining RC drill hole collars and the interpreted mineralised zones suggested to be within the Han**** Ranges project area
The site visit also confirmed excellent potential of the Kalgan prospect in the Han**** Ranges project to host significant tonnages of DSO grade iron ore
Initial geological mapping and sampling of the historic BHP 20 deposit on the periphery of the Brockman project indicates that the mineralisation extends onto the project tenement
Option period mutually extended by 15 days, to 18 November 2019
Technical Director of Alien Metals, Bill Brodie Good, commented that “the initial assay results and geological information from the technical due diligence field trip are highly encouraging. Of the 17 samples taken across the two projects, numerous assays returned greater than 60%+ Fe, which is direct shipping ore quality, and the brief geological mapping carried out further enhanced the perceived potential of both projects. The assay results corroborate sampling and drilling undertaken by Volta Mining in 2014 at the Han**** Ranges project, and also the significant potential at the Brockman Iron project, where major iron ore companies are drilling on adjacent tenements.”
The location of the Brockman Iron and Han**** Ranges tenements are set out in figure 1:
https://www.alienmetals.uk/assets/img/190920_figure1.jpg
Independent assay results
A total of 17 iron ore rock chip samples were taken in the course of the due diligence field work. These samples were initially analysed in the field by a portable X-ray fluorescence device (“PXRF”) followed by full analysis by Li Borate fusion/XRF analysis at the independent Interte