30 October
2024
Alien Metals Ltd
("Alien" or "the
Company")
Alien commences Silver and
Precious Metals Exploration at Pinderi Hills,
Australia
Alien Metals Ltd (AIM: UFO), a minerals
exploration and development company, is pleased to provide an update covering recent activities and planned
exploration works for the next six months at its Pinderi Hills
silver and precious metals project ("Project" or "Pinderi Hills")
in Western Australia.
Highlights
· Initial
works will involve ground geophysics, downhole geophysics, soil
sampling and detailed geological interpretation over two key
high-grade areas of the Munni Munni +2Moz PGM resource.
· These works have
commenced with results to follow within two months.
· As
part of the geological review, the Company has located 100
additional drill holes, both drill core and reverse circulation,
for around 10,000m of extra drilling that was not previously
known.
·
These drill holes now form part of the main
database and will be reviewed for any additional occurrences of
silver and precious metals anomalism.
·
Dr Jayson Myers, who has been involved in several
major discoveries in Western Australia, is continuing to assist the
technical and exploration team.
·
With the increase in the silver price, the Company
has received substantial corporate interest in the Elizabeth Hill
Silver Mine, which at the time of its operation was Australia's
highest-grade silver mine.
Robert Mosig, Technical Director,
commented:
"The Company's geologists and consultants have
researched and prepared concrete plans for the continued
exploration and development of Pinderi Hills. With lithium
exploration at Pinderi Hills now under the guidance and expertise
of a joint venture with partner Errawarra Resources Pty Limited,
Alien can focus on the advancement and development of the PGM and
Silver resources in this strategic tenure."
Pinderi Hills
The West Pilbara region of Western
Australia hosts significant and world-class mineral resources.
Recent discoveries have included the giant lithium discovery at
Andover, part-owned by the Chilean company SQM (Sociedad Química y
Minera de Chile SA) (NYSE: SQM) ("SQM") and the De Grey Mining Ltd
+10Moz Hemi Gold Project.
Within this mineral-rich area, Alien
has 180km2 of tenure that has the potential to host
additional significant precious metal mineralisation.
Figure 1: West Pilbara high potential
areas for Ni-Cu-PGM sulphide deposits with the focus on Munni Munni
Complex (Geoscience Australia, 2016)
Previous announcements by the Company during
20243, have
reported on work completed to allow a baseline study of geological
information to establish a solid foundation of evidence-based
geology and precious metal anomalism on which to advance the
Project.
This work is now complete, and the Company is
advancing towards its goal of identifying a significant new
precious metals discovery at Pinderi Hills. As part of the
geological review, the Company has located some 100 drill holes,
both drill core and reverse circulation, for around 10,000m of
extra drilling that was not previously known. The discovery of this
drilling, geological and assay information was located by the
company's geologists during an intensive review and validation of
all old drilling reports that had been submitted to the Department
of Energy, Mines, Industry Regulation and Safety.
As part of the Company's efforts to focus on
precious metals, the lithium rights were placed into a joint
venture with Errawarra Resources Pty Ltd and this has already had
success as seen in the announcement.
Alien's Joint
Venture Partner Identifies 6km2 Li2O Soil
Footprint at Pinderi Hills, 27 August
20243
Upcoming
works
The Company, working with retained consultants
including Dr Jason Myers, has determined that there are five main
areas within the Pinderi Hills Project to focus on over the coming
months:
A. Cadgerina Dyke
B. Judy's Reef
C. Munni Munni Fault
system
D. PGM high grade 1 and PGM
high grade 2, within the known extensive mineral resource area at
Munni Munni
E. Elizabeth Hill Silver Mine
and potential extensions
A - The
Cadgerina Dyke is an area of known precious
metal anomalism from existing soil sampling. It is interpreted as a
feeder conduit for the main Munni Munni layered ultramafic complex.
These types of conduits can host significant sulphide-hosted metal
deposits.
The Company sees the Cadgerina Dyke as a
significant exploration opportunity due to its proximity to the
main Munni Munni PGM resource and due to the lack of drilling as
previous explorers were focused predominantly on the existing PGM
resource.
The Cadgerina Dyke area, as seen in Figures 3
and 4, is under an area of alluvial cover, hence prospecting-style
work has less chance of observing significant
mineralisation.
B - Judy
Reef is an area extending from the high-grade
Elizabeth Hill silver mine down the eastern edge of the
ultramafic/granite contact. The PGM and copper anomalism in this
reef is interpreted as being in the lower, more prospective, basal
parts of the Munni Munni intrusion. There is silver anomalism along
the Judy's Reef Zone which is being explored in conjunction with
the other precious metals.
C - Munni
Munni Fault system is the area along the Munni
Munni fault pair as seen in Figure 2. The Munni Munni eastern fault
has both the Elizabeth Hill and high-grade PGM resources along it.
Combined, these faults represent a large, structurally controlled,
mineralised corridor that has had little work completed over it
previously as prior owners of the tenements had focused on the
known mineralised areas and completed very little step-out
exploration.
D - PGM high
grade 1 and PGM high grade 2 zones are
recognised by having multiple, above 5g/t PGM3, intersections in
historic drilling. The overall grade of the Munni Munni PGM
resource is 2.9g/t PGM3. Of note though are the two areas
highlighted in Figure
2 that have multiple intercepts in core drilling above
5g/tPGM3. Both high-grade zones are associated with prominent
north-northeast trending faults. More interpretive geological work
will be completed in these areas to generate an exploration model
and to target possible future drilling in these areas.
E - Elizabeth
Hill Silver mineralisation is exceptional at
the historic Elizabeth Hill silver mine. Elizabeth Hill was
Australia's highest-grade silver mine and produced over 1Moz of
silver when in production. Further work will be completed to target
extension of the silver and in particular its association with the
Munni Munni Fault, which has minimal exploration along its
considerable strike length. There is also silver anomalism to
follow up along the Judy Reef area.
These five zones of interest are all
potentially associated with discoveries of new or higher-grade
mineralisation within known mineralisation. The Company intends to
maximise technology and obtain maximum benefit from all information
collected to make informed, and geologically supported decisions
for when drilling commences.
1/ 2004 JORC
compliant
2/ Global Strategic Metals
NL, Annual Technical Report 2014, non-JORC 2012
compliant
1moz of the resource has been mined up
until 2000-2001
3/ Pinderi Hills Lithium Joint
Venture, 29 April 2024
Independent review of
Silver & Ni-PGM's at Pinderi Hills, Australia, 30 May
2024
Pinderi Hills Update -
Commencement of Exploration Work, 20 June 2024 (Lithium
focused)
Alien's Joint Venture
Partner Identifies 6km2 Li2O Soil Footprint at Pinderi
Hills, 27 August 2024 (Lithium focused)
For further
information, please visit the Company's
website at www.alienmetals.uk or contact:
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
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 its 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 offer 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).
Competent
Person's Statement
The information in this announcement that
relates to Exploration Results, is based on information compiled 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 document of the information in the form and
context in which it appears.