Last checked at 10 Oct 2023 07:00
Trading Symbols
AIM: UFO
FWB: I3A1
10 October 2023
Alien Metals Ltd
("Alien" or "the Company")
Heritage Agreement signed for Vivash Gorge Exploration Licence supports expanding Iron Ore footprint
Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to announce its subsidiary company Iron Ore Company of Australia Pty Ltd ("IOCA") has executed a Heritage Agreement ("HPA") with the PKKP Aboriginal Corporation RNTBC ("PKKP AC") associated with its exploration licence at its 100% owned Vivash Gorge Project ("Vivash"), in the Pilbara Region, Western Australia.
Highlights:
· IOCA has entered into the HPA with PKKP AC for its exploration licence E 47/3071 ("the Licence"). The purpose of the HPA is to facilitate IOCA's exploration of the Licence co-operatively with the Puutu Kunti Kurrama and Pinikura people while ensuring best practice protection of their cultural heritage.
· The Puutu Kunti Kurrama and Pinikura People are the Common Law Holders over native title determination that spans the Vivash tenement.
· The HPA is the first step in the Company's engagement with PKKP Traditional Owners in relation to the Vivash Project and their endeavours for long-term collaboration, cooperation and agreed protection measures for areas of cultural importance to the PKKP people and, inter alia, to provide the basis for the Company undertaking the required heritage surveys.-
· Execution of the HPA allows IOCA to begin engaging with PKKP AC to arrange heritage surveys as part of planning exploration campaigns at the Vivash Prospect looking for potentially new prospects of Iron Ore resource.
Troy Whittaker, Chief Executive Officer commented:
"The Company and its Board would like to thank the PKKP Aboriginal Corporation and its Board of PKKP Directors for their support in execution of the HPA.
"The Vivash Gorge prospect is an important part of the Company's strategy to develop and expand its Iron Ore operations in the Pilbara Region, Western Australia. Execution of this HPA allows the Company to unlock this strategic tenement that sits within close proximity to proven large scale production mines like Fortescue's Eliwana and Rio Tinto's Brockman 4."
Further Information
Figure 1: Location of the Company's Iron Ore Projects, Western Australia
Figure 2: Vivash Gorge Tenements
Vivash Gorge
Vivash Gorge covers ~47km2 of highly prospective ground within the vicinity of proven resources. Detailed geological mapping has been completed by previous explorers, providing the Company with good base geological maps to build on. No prior exploration work has been conducted on the central area of the tenement, which will be the focus of the Company's exploration. Neighbouring Fortescue Metals Group (FMG) has defined high grade DSO iron ore mineral resources of:
· 28Mt @ 58.8% Fe which abuts the eastern tenement boundary, with close proximity drilling returning high grade results which include 70m @ 60.5% Fe from surface (and only 60mtrs east of the IOCA tenement boundary), and
· 96Mt @ 58.7% Fe within short proximity to the northeast of the tenement boundary.
Importantly, these deposits sit within the same stratigraphy that is contained within the Vivash Gorge tenement and the resource at Vivash Gorge SW (non IOCA) appears likely to continue into the Vivash Gorge tenement (see figure three). As a result, the Company believes that the area has the potential to host high grade iron ore.
?
?
Figure 3: FMG Historical drilling in the vicinity of Vivash Gorge
For further information please visit the Company's website at www.alienmetals.uk or contact:
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Ltd
Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666
BlytheRay (Financial PR)
Tim Blythe / Megan Ray / Said Izagaren Tel: +44 (0) 20 7138 3204
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Notes to Editors:
Alien Metals Ltd is a mineral exploration and development Company listed on the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is on delivering a near term direct shipping iron ore operation at the Hancock Project in the Pilbara region of Western Australia.
In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved to 90% legal and beneficial ownership. In May 2023, the Company also acquired 100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement. The new tenement adjoins the Company's existing Hancock tenement, giving the entire Hancock project direct access to the Great Northern Highway.
The Company also acquired 100% of the Vivash Gorge Iron Ore project in the west Pilbara in July 2022.
The Company owns 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Mining Lease and the 115km2 exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint venture interest in the broader Pinderi Hills tenement group in the West Pilbara, Western Australia. This includes the Munni Munni Platinum Group Metals Project, one of Australia's major underexplored PGE and base metals projects. Munni Munni holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold, Rhodium. The Pinderi hills tenement group also has significant Nickel and Copper prospectivity.
The Company also holds silver, copper and base metal projects in Mexico, however is currently looking at the best way to divest these for the benefit of shareholders.