TIDMUFO
RNS Number : 3482B
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 figures and
images:
http://www.rns-pdf.londonstockexchange.com/rns/3482B_1-2020-1-29.pdf
IP Survey at Donovan 2 copper-gold project to commence in coming
weeks
Alien Metals Ltd ("Alien Metals" or "Company") the exploration
and development company is pleased to provide an update on the
Company's Donovan 2, copper-gold project. In addition to the recent
successful visit to the Company's silver project portfolio, the
Alien technical team carried out a site visit to Donovan 2,
followed by an exploration strategy session including future work
programs.
Highlights:
- The Donovan 2 copper-gold project contains a prospective
Volcanic Massive Sulphide ('VMS') target, identified by previous
sampling and mapping programmes
- A ground magnetics Induced Polarisation (IP) survey plan has
been finalised and an updated quote has been received for the VMS
target in order to generate high-priority drill targets
- Discussions with various drilling companies are in progress
with quotes requested for possible next stage work on Donovan 2
- Successful site visit and technical review at Donovan 2 during
recent trip improves confidence in interpreted VMS style
mineralisation
Bill Brodie Good, Technical Director, commented:
"A site visit to the Donovan 2 Copper Gold project confirmed
that the planned next stage of work will be a ground based IP
survey to aid in defining a coherent drill targets and discussions
are already underway with drilling companies to carry out follow up
work."
"Additionally, surface float samples have showed from visible
inspection on site excellent sulphide and copper content which
further supports Donovan 2 as a highly prospective target."
Donovan 2 Copper-Gold (Cu/Au)
The Donovan 2 project is situated in a flat lying area of mainly
crops with excellent access and local infrastructure, located about
45km south east of Zacatecas. With no apparent in-situ outcrop the
planned ground magnetic Induced Polarisation (IP) Survey is
critical to identify the underlying source of the surface float
samples containing significant copper mineralisation. The value of
utilising IP was further confirmed through discussions with a major
Mexican base metals mining company who utilise IP as an effective
exploration tool in this region for copper and gold
exploration.
A couple of copper and sulphide bearing float samples (see
below) were located during the site visit sourced from a hand dug
water well located right over the ground magnetic anomaly defined
from work performed by the Company in 2019. It is interpreted that
these float samples were from the well rather than having been
transported from elsewhere.
Figure: Ground magnetic survey anomaly with proposed IP lines
perpendicular (green), Donovan 2, January 2020
An updated quote from TMC EXPLORACION, S. R.L. de C.V., who
carried out the ground magnetic and initial IP work for Alien in
2019, has been received and Alien hope to commission the work
soonest.
Image: Copper bearing float sample, Donovan 2, January 2020
The Teck Resources Limited San Nicolás VMS deposit lies within
24km of Donovan 2 and reports a National Instrument 43-101
compliant Measured and Indicated resource of 108.9Mt averaging
grades including 1.16% Cu and 0.43g/t Au.
Alien is continuing discussions with a range of parties
regarding potential joint venture opportunities on this project,
however no binding agreements have been reached to date.
Alien has 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:
Cu - Copper
Au - Gold
Mt - Million tons
Volcanic Massive Sulphide (VMS) - Volcanogenic massive sulphide
ore deposits, also known as VMS ore deposits, are a type of metal
ore deposit, mainly copper-zinc bearing, which are associated with
and created by volcanic-associated hydrothermal events in submarine
environments.
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
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