TIDMUFO
RNS Number : 3473B
Alien Metals Limited
30 January 2020
Trading Symbols
AIM: UFO
FWB: I3A1
30th January 2020
Alien Metals Ltd
("Alien" or "the Company")
Please follow link for full announcement including images:
http://www.rns-pdf.londonstockexchange.com/rns/3473B_1-2020-1-29.pdf
Successful site visit confirms development potential of Mexican
Silver Portfolio
Alien Metals Ltd ("Alien Metals" or "Company"), the minerals
exploration and development company, is pleased to announce that
the Company's Technical Director, Bill Brodie Good, has just
completed a successful site visit to Alien's Mexican assets. During
this visit, Bill and the Alien technical team, reviewed the
Company's projects and their current stage of development, and
began planning work for the next phase of development. Meetings
were also held with potential JV partners in-country.
Highlights:
- Site visit reconfirms exploration and development potential of Los Campos and San Celso
o Potential further development can be achieved at Los Campos
using modern mining methods
o San Celso offers great potential to contain an economic silver
resource
- Plans for detailed exploration drill programmes for the Los
Campos and San Celso silver exploration projects were finalised
- Completion of submission to SEMARNAT, the Environmental
Ministry of Mexico, as per Mexican regulations, of drill programmes
to obtain drill permits
- Discussions with various drilling companies are in progress and quotes have been requested
- Meetings conducted with potential Joint Venture partners in country
- Successful strategy and technical meeting with Alien's Mexican technical team
- Underground site visit at Endeavour Silvers' El Compas mine,
highlighting potential conditions and methods for Los Campos and
San Celso projects
- Endeavours plant at El Compas is currently operating at 40-50%
capacity, providing a potential opportunity for toll treating
arrangements
Bill Brodie Good, Technical Director, commented:
"I had an excellent trip to Mexico where I not only gained a
better understanding of the Company's projects, but also of the
exploration and mining mentality, and capacity, of the Zacatecas
region. Additionally, I spent valuable face to face time with our
in-country technical team and I look forward to continuing to work
with them.
"I would also like to thank the team at Endeavour Silver who
graciously took myself and my team underground at their El Compas
silver/gold underground mine. It was excellent to see the orebody
in-situ and understand their mining and processing methods. As the
deposit has comparable mineralisation, and potentially deposit
style, to Alien's Los Campos project only a few kilometres away the
visit added a lot of insight into the potential of Los Campos and
discussions with the technical team were also of great value.
"I look forward to updating the market on our Donovan 2 copper
gold project shortly as well."
San Celso (Silver)
Further to the site visit and discussions with the technical
team it is apparent that San Celso offers great potential to
contain an economic silver resource. Extensive ore grade material
is present at surface in both historic mine dumps and in various
adits. Being at a slightly higher elevation than the surrounding
area there appears to be little or no water in the old workings
and, as these workings were sampled and mapped in 2006, a provision
to re-enter the workings to carry out updated sampling and mapping
is currently being planned. Should this go ahead it would aid in
finalising initial drill positions and add a lot of valuable
information on the mineralisation grade, width and potential.
It should be noted that there is a large skilled workforce with
extensive underground mining experience in the region, including
the Alien in-country technical team, hence this work can be carried
out in-house which will ensure excellent quality of work and cost
effective program as well.
The mineralised samples at surface suggest that the historic
miners only removed and processed the exceptionally high
grade/bonanza grade ore, both due to ease of extraction of the
silver and to minimise the amount of material they had to mine. The
presence of what looks like a furnace/smelter type structure on the
surface also suggests they had extensive native silver as warranted
by producing concentrate on site. From the historical sampling to
date this is a feasible assumption, however, the Company wants to
confirm this with the planned phases of work.
Image: Float sample at surface of main mineralised vein (from
visual inspection, not analysed), San Celso, January 2020
Alien has outlined a comprehensive grid based drilling plan to
cover all eventualities whilst ensuring that each drill hole can be
used in a resource estimation in the future as the drilling will be
based on the grid pattern and proximity of the holes, rather than
commencing with a few random drill holes that are not necessarily
compatible with a future resource estimate. In total, 47 angled
holes for 3,250m are proposed by way of staged successive programs,
with an average depth of 70m per hole to intersect the target veins
and mineralised zone perpendicular to trend of the mineralised
units. Once permission is granted and underground sampling and
mapping has been completed, Alien will, subject to the availability
of additional funding, look to commence with four to six strategic
holes as an initial programme to further define the potential of
the mineralisation and ensure each follow up hole adds significant
knowledge and value to the project.
Image: Historic Open pit workings looking east with old Smelter
in background, San Celso, January 2020
Los Campos (Silver)
The Los Campos tenement is located to the south of the edge of
the urban area of Quadalupe, an extension of Zacatecas city. There
are a series of long narrow 'open pits' that follow the mineralised
vein systems as well as several deep vertical shafts for
underground access. With modern local mining methods favouring
decline development for underground mining and the topography of
the tenement in relation to the mineralisation, its apparent that
access to the historic workings and potential further development
of this project could be done by driving one or more declines into
the system from the lower slopes of the structure straight into the
system.
Image: View of Los Campos project from Zacatecas showing trend
of historic workings over mineralised veins, January 2020
Alien will continue with the drill program planning as the
current state of the underground workings are not known given there
is no reference to anyone having been in them for many years.
Therefore as previously announced, the focus is still on getting
the permission to drill from surface from Semnarat.
Further to a visit to Tecmin Drilling in Fresnillo, Alien has
requested a quote for this initial drilling. It should be noted
that Tecmin Drilling has received certification from Semnarat for
their environmentally positive work which supports the Company's
application further. Locally based, it would also be able to manage
the work much more efficiently than companies based elsewhere in
Mexico.
Alien is continuing discussions with a range of parties
regarding potential joint venture opportunities on these projects,
however no binding agreements have been reached to date.
Alien have also been presented with other projects in Mexico
while in country and are currently reviewing them.
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited First Equity Limited (Joint -
Bill Brodie Good, Technical Broker)
Director Jason Robertson
David Taylor, Company Secretary Tel +44 (0)20 7374 2212
Tel: +44 (0)20 7887 6599
Beaumont Cornish Limited (Nomad) Novum Securities Limited (Joint
James Biddle/ Roland Cornish - Broker)
www.beaumontcornish.com Jon Belliss
Tel: +44 (0) 207 628 3396 Tel +44 (0)20 7399 9425
Blytheweigh (Financial PR)
Megan Ray/Rachael Brooks
Tel: +44 (0) 207 138 3204
Notes to Editors
Alien Metals Ltd is an AIM quoted mining exploration and
development company. Since the restructure of the company in 2018,
Alien has focused on delivering its strategy of acquiring mining
projects which demonstrate significant development upside, in
jurisdictions with established infrastructure and mining codes, and
where strong operational controls can be assured.
In addition to progressing its acquisition-led strategy,
following the strategic review of its portfolio of projects in
Mexico during 2018-19, the Company has identified exploration
targets across its 12 mining concessions in Zacatecas, Mexico,
which it is working to advance systematically.
Qualified Person
The information in this report that relates to exploration
targets, exploration results, and other information of a technical
nature has been reviewed by Dr Lex Lambeck Ph.D, a technical
consultant to the Company. Dr Lambeck is a Member of the American
Institute of Professional Geologists and a Certified Professional
Geologist, CPG-11734, with over 15 years of relevant experience in
exploration and assessment of resource projects.
Forward-Looking Information
This press release contains certain "forward-looking
information". All statements, other than statements of historical
fact that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future are deemed forward-looking information.
This forward-looking information reflects the current
expectations or beliefs of the Company based on information
currently available to the Company as well as certain assumptions,
including the availability of sufficient funds. Forward-looking
information is subject to a number of significant risks and
uncertainties and other factors that may cause the actual results
of the Company to differ materially from those discussed in the
forward-looking information, and even if such actual results are
realised or substantially realised, there can be no assurance that
they will have the expected consequences to, or effects on the
Company.
Any forward-looking information speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
Glossary:
g/t - Gram per ton
Ag - Silver
Adit - a horizontal or inclined passage leading into a mine for
the purposes of access or drainage.
Shaft - Vertical passage that gives access to underground mining
area
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCBLMRTMTMTBMM
(END) Dow Jones Newswires
January 30, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Alien Metals (LSE:UFO)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Alien Metals (LSE:UFO)
Storico
Da Apr 2023 a Apr 2024
