27 August
2024
Alien Metals Ltd
("Alien" or "the Company")
Alien's Joint Venture Partner Identifies
6km2 Li2O Soil Footprint at Pinderi
Hills
Alien Metals Ltd (AIM:
UFO) is pleased to provide an update covering
recent activities and exploration works completed and assessed by
Errawarra Resources Ltd ("Errawarra") at its 100% owned Pinderi
Hills silver and precious metals project (the "Project" or "Pinderi
Hills") in Western Australia.
As announced on 29 April 2024, Errawarra
entered into a joint venture agreement with Alien in respect of the
lithium rights of the Project (the "JV"). Recent results provided
by Errawarra concerning exploration for lithium at the Pinderi
Hills Project have confirmed that the Munni Munni Mafic Complex is
highly prospective for PGE's, nickel and copper. As part of the
terms of the JV, Errawarra has a first right of refusal to acquire
all the remaining mineral rights to the Pinderi Hills nickel,
copper, and platinum group metals projects.
Highlights:
Results from
over 1,000 samples collected at Pinderi Hills were
received
· Reconnaissance samples from
Pinderi Hills Project confirm lithium pegmatite
potential
· New large lithium soil
footprint identified within 6km2 area
· Lithium trends with up to 3km
strike highlighted by anomalous soil and stream
samples
· Second anomalous lithium area
highlighted by stream samples
· Rock chip sample reports
288ppm Li2O with associated anomalous Cs, Ta and
Nb
·
Follow-up
planning underway
Munni Munni Anomaly:
The results of reconnaissance samples
comprising soil (926 samples), stream sediment (190 samples) and
rock chip (37 samples) undertaken on the Pinderi Hills JV tenements
have been received and assessed. The stream samples covered the
entire tenement package while the soil samples were restricted to
the area covered by tenements M47/123, 124, 125 and 126 and a
portion of E47/3322. Rock chip samples were taken when a pegmatite
was identified while undertaking the soil and stream sediment
sampling programmes.
The soil samples which were taken on a 400m x
100m north-south orientated grid have highlighted several closely
related linear anomalous Li2O trends within a
6km2 footprint. These trends are highly suggestive of
lithium bearing pegmatites due to the linear and swarm
characteristics of the anomalies. Although preliminary limited on
ground investigations have not identified a cause for the anomalous
sample results, a pegmatite rock chip sample located within the
anomalous zone has reported 73 ppm Li2O. The stream
sediment samples associated with the lithium soil anomalism in this
area have also reported anomalous Li2O
values which complements the soil results and further
highlights the prospectivity of this area within the project
tenements.
Figure
1: Pinderi Hills
Joint Venture Tenements - provided by Errawarra
Figure 2: Lithium Footprint
showing Linear Trends - provided by Errawarra
Figure 3. Location
of Soil and Stream Sampling Programs - provided by
Errawarra
Maitland Lithium
Anomaly:
Three spatially related stream sediment samples
located on the margin of the Maitland Mafic Intrusion and 10km
northeast of the Munni Munni lithium anomaly have also reported
Li2O greater than 50ppm Li2O (Figure 1). This
result is anomalous for the streams in this region and follow-up of
this anomalous area by further stream sediment or soil samples is
to be undertaken.
Anomalous Rock Chip
Sample:
A sample from possible pegmatite located 6km
due east of the Munni Munni lithium anomaly has reported 288ppm
Li2O along with associated elevated Cs, Ta and Nb which
is characteristic of a LCT pegmatite. Follow-up of this anomalous
rock chip sample will be a priority.
Next steps:
The first pass sampling program which covered
the entire tenement package of 175 km2 has provided
encouraging results and confirmed the lithium fertility of the JV
tenements. Follow-up work programs will initially focus on
resolving the larger Munni Munni lithium soil trends as well as
following-up the Maitland anomalous lithium stream anomaly and the
isolated anomalous lithium pegmatite sample that reported 288 ppm
Li2O and associated pathfinder
elements.
Robert Mosig,
Non-Executive Director, commented:
"This is a
pleasing start to the exploration programmes at Pinderi Hills.
Errawarra is a valued joint venture partner and we look forward to
further positive lithium exploration results as the work programmes
are implemented.
"Importantly,
the data being gathered by Errawarra, at no cost to Alien, will
continue to provide the Company essential information that will
assist in the analysis and drill targeting for silver, base and
precious metals."
Competent
Person Statement
The information in this announcement relating
to the Project is based on information compiled by Thomas
Reddicliffe, BSc (Hons), MSc, Fellow of the AUSIMM (Director of
Errawarra Resources Limited) and has been reviewed by Mr. Bradley
Toms who is the Exploration Manager and a full time employee of
Alien Metals Ltd. Mr. Toms is a Member of The Australian Institute
of Geoscientists and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity that he is undertaking, to qualify as Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr. Toms consents to the inclusion in the announcement
of the information in the form and context in which it appears. Mr
Toms has declared that he holds Performance Rights in the
Company.
For further
information, please visit the Company's
website at www.alienmetals.uk or contact:
Alien Metals
Limited
Guy Robertson
GR@alienmetals.uk
Tel: +61 (0) 407 983 270
Strand Hanson
(Financial and Nominated Adviser)
James Harris / James Dance / Robert
Collins
Tel: +44 (0) 207 409 3494
Zeus Capital Limited
(Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 203 829 5000
CMC Markets (Joint
Broker)
Douglas Crippen
Tel: +44 (0) 203 003 8632
Yellow Jersey
(Financial PR)
Charles Goodwin / Shivantha Thambirajah / Zara
McKinlay
Tel: +44 (0) 203 004 9512
alienmetals@yellowjerseypr.com
Notes to
Editors
Alien Metals Ltd is a mining exploration and
development company listed on the AIM market of the London Stock
Exchange (AIM: UFO). The Company's focus is on delivering a
profitable direct shipping iron ore operation from it 90% Hancock
iron ore project in the central Pilbara region of Western
Australia. The Hancock tenements currently
contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe
and offers significant exploration upside which is targeted to
deliver a mining operation of 2Mtpa for 10 years.
These Hancock Project tenements have direct access to the Great Northern Highway, which
provides an essential export route to export facilities at Port
Hedland, from where more than 500Mt of iron ore is exported
annually (30% of global production). The Company also has an
interest in two iron ore exploration projects Brockman and Vivash,
located in the West Pilbara.
The Company owns the Elizabeth Hill
Silver Project, located near Karratha in the Pilbara, which
consists of the Elizabeth Hill Mining Lease and exploration
tenements surrounding the historical silver mine which has produced
some of Australia's highest-grade silver ore during the late
1990's. The Company also owns one of Australia's largest PGM
deposits, Munni Munni which hosts a deposit containing a historic
resource of 2.2Moz PGM (Palladium, Platinum, Gold, and Rhodium).