Alien Resources (UFO)

Thu, 6th Aug 2020 12:00

RNS Number : 3887V
Alien Metals Limited
06 August 2020





Trading Symbols

AIM: UFO

FWB: I3A1

6th August 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figures:



http://www.rns-pdf.londonstockexchange.com/rns/3887V_1-2020-8-6.pdf


Three Copper-Gold Drill Targets identified at Donovan 2


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to announce, following its last update of 20th July 2020, the details of its maiden exploration drilling program on the Donovan 2 Copper Gold Volcanic Massive Sulphide (VMS) project in Mexico.


Highlights:

- Three targets defined for a maiden drilling program at Donovan 2

- Two geophysical targets at Cerro de la Cruz with coincident geological features within a broad well-defined corridor

- One geological target with proven copper mineralisation from shallow historic underground workings and adjacent water hole samples at Los Alomos

- Targets identified by Alien Metals technical team and supporting world class geophysical consultants

- All targets are robust and require drilling to develop the project

- Six drill holes planned for 1,000 metres of drilling

- Work to commence as soon as possible


Bill Brodie Good, Technical Director of Alien Metals, commented:

"We have extensively reviewed all available data including some reinterpretation work as well as using one of our consultants experience and knowledge of the San Nicolas VMS deposit just down the road to lead us to this maiden drilling program which we feel now provides us with some exciting targets. The company will work as efficiently as possible to update the existing drill permission documentation and work to get the drilling started as soon as is safely possible under the current situation."


The Donovan 2 project is situated in a flat-lying area located about 45km south east of Zacatecas with excellent access and local infrastructure. The Teck Resources Limited San Nicolás VMS deposit lies within 24km of Donovan 2 and hosts a Measured and Indicated resource of 108.9Mt, with average grades of 1.16% Copper and 0.43g/t Gold.



Figure 1: Location of Donovan 2 project, Zacatecas State, Mexico


Alien Metals has to date completed surface mapping and sampling and two ground based geophysical surveys in the last couple of years. The work has identified numerous indications that a Volcanic Massive Sulphide (VMS) type Copper rich deposit is potentially present.


Further to a detailed review of all historic data and in-depth discussions with geophysical consultants used to date, the Company has designed the initial drill program to test the two identified prospects of Cerro de la Cruz and El Alomos. A total of six holes for 1,000 metres of drilling are planned, all diamond core drilling, with four holes at Cerro de la Cruz to test the defined magnetic and gravity anomalies and two holes at El Alomos to test the identified geological anomaly.




Figure 2: Location of prospects, Donovan 2, August 2020



Figure 3: Location of proposed drill holes in the two key target areas Cerro de la Cruz and Los Alomos, Donovan 2, August 2020


The Company feels that this maiden drilling program is the natural next phase of exploration for the project and is looking forward to reporting results to help further understand and work out the project potential.



VMS deposits occur throughout the world and throughout the geological time column in virtually every tectonic domain that has submarine volcanic rocks as an important constituent. VMS deposits are major sources of Copper and Zinc and contain significant quantities of Gold, Silver, Lead, Tin as well as minor amounts of other metals.


As a group, VMS deposits consist of massive accumulations of sulphide minerals (more than 60% sulphide minerals) which occur in lens-like or tabular bodies parallel to the volcanic stratigraphy or bedding. Teck's VMS San Nicolás deposit proximal to Donovan 2 is such a deposit.


They are usually underlain by a footwall stockwork of vein and stringer sulphide mineralization and hydrothermal alteration They may occur in any rock type, but the predominant hosts are volcanic rocks and fine-grained, clay-rich sediments. The deposits consist of ubiquitous iron sulphide (pyrite, pyrrhotite) with chalcopyrite, sphalerite, and galena as the principal economic minerals. Barite and cherty silica are common gangue accessory minerals.



For further information please visit the Company's website at www.alienmetals.uk

 

its very good And will tell you about all aliens assets
https://www.bigmarker.com/share-talk/Alien-Metals-PLC-Investor-Presentation-and-Q-A-Session

 

12 August 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figure:

http://www.rns-pdf.londonstockexchange.com/rns/8460V_1-2020-8-11.pdf


Appointment of North American Investment Bank for Donovan 2 Joint Venture Process


Alien Metals Ltd ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to announce the appointment of IBK Capital Corp ("IBK Capital") to assist Alien Metals with the project level funding and joint venture process for its Donovan 2 Copper-Gold project in Mexico.


IBK Capital is a Canadian based independent and privately-owned investment banking firm with significant experience in the mining sector. Its services include private placements of equity and debt instruments. IBK Capital has led, managed, and completed investment banking transactions with a combined value of Cdn$5.6 billion.


Alien Metals has been in discussions with several mining companies who have declared an interest in a joint venture partnership for the Donovan Project. The Company considers the appointment of a North American investment bank such as IBK Capital, with their extensive experience of such transactions, to be a prudent step in maximising the value of the project for all parties.


Bill Brodie Good, Technical Director of Alien Metals, commented:


"The appointment of IBK Capital takes place at a time of fantastic fundamentals for precious metals and copper. IBK Capital has an enviable track-record in accessing funding for many junior mining companies and we look forward to a long and fruitful relationship, starting with the Donovan 2 project."

 

ALIEN METALS LIMITED (UFO) NPV
Sell:0.46p Buy:0.48p 0.12p (31.94%)

 

RNS Number : 1117X
Alien Metals Limited
25 August 2020









Trading Symbols

AIM: UFO

FWB: I3A1


25th August 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figure:

http://www.rns-pdf.londonstockexchange.com/rns/1117X_1-2020-8-25.pdf


Maiden Exploration Targets Identified at Hamersley Iron Ore Projects


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to provide an update on the outcome of an extensive data review of the Hamersley Iron Ore Projects, including the generation of Maiden Exploration Targets and proposed next step exploration plans.


Highlights:

- Both tenements cover large areas of the Hamersley Group sediments which are prospective for deposits of high-grade direct shipping iron ore ("DSO"):

o Both tenements contain areas of high-grade iron ore mineralisation, as confirmed by recent and historic geological reconnaissance, sampling and sample analysis

o Both tenements have the potential to contain significant tonnages of mineralisation, subject to more detailed geological mapping, sampling and drilling

- Five priority prospects for follow up field exploration, including:

o The Sirius Extension prospect and Kalgan Prospect at E47/3954; and

o The BHP 19 and BHP 20 prospects at E47/3953, with a new exciting prospect (BHP 15) defined from historical research study

- Targeting and data review has led to Maiden Exploration Targets[1] across both projects, assumed to be high-grade DSO

- Planning for Alien's geological team to get on ground as soon as possible



Technical Director Bill Brodie Good said: "The Company is extremely pleased with the results and findings of the detailed data compilation, which helped identify maiden Exploration Targets for the Brockman Iron and Hancock Ranges projects. The field work undertaken last year replicated the high-grade DSO results previously recorded at the projects; our next objectives are to carry-out further exploration work, including a maiden drilling programme, to convert the Exploration Targets into JORC resources.


"The Company is excited about the potential to add significant value to the projects and looks forward to updating the market of progress in due course."


Figure 1: Location of the Brockman and Hancock Ranges Iron Ore projects within the prolific iron ore producing region of the Pilbara


The two projects are within the Hamersley Province of Western Australia, known as one of the premier iron ore producing regions of the world. The Brockman Project (E47/3953) is located in the west Hamersley Province, 100 kilometres ("km") northwest of the Rio Tinto iron ore mining town of Tom Price, and 90km west of the Tom Price to Dampier mine railway. The Hancock Ranges Project (E47/3954) is located in the east Hamersley Province, 15km north of the BHP iron ore mining town of Newman, and 20km west of the Newman to Port Hedland mine railway.


KBG Consultants Ltd (KBG) have completed a detailed compilation and review of all historic exploration work carried out on the two project areas including culminating in submitting a proposed a next stage exploration strategy based on the findings of the detailed review.


Over 600 public reports were reviewed covering both projects, with all relevant reports and maps compiled into a database for future reference. No fieldwork was done during this validation of the historic data, but all field locations were georeferenced as accurately as possible as part of the review.


Five priority prospects were identified and further studied and next stage exploration has been proposed for all of them. For the Brockman Project, three targets focus on the historic high-grade BHP prospects numbers 15, 19 and 20, which the Company has planned to follow-up with detailed grid-based surface mapping and sampling to support a maiden drilling programme. Two key targets in the Hancock Ranges Project are the Sirius Extension prospect, that has previously been drilled by Volta Mining (refer RNS dated September 20th, 2019 for further information), and the Kalgan Prospect in the north-north-west of the project, that the Company believes has excellent potential.



Figure 2: Location of proposed mapping traverses, BHP 20 Deposit, over geology and historic sampling, E47/3953, Alien Metals, August 2020



Figure 3: E47/3954 target areas showing historic sampling over geology, Alien Metals August 2020



Figure 4: Schematic Cross section of BHP20 deposit E47/3953, KBG, Feb 2020


Following the comprehensive historical data review and incorporating the prior sampling and drilling of Volta Mining with the sampling undertaken by Alien Metals in 2019, maiden Exploration Targets have been generated for both projects.


Table 1. Exploration Target estimates for the Brockman Iron and Hancock Ranges projects


Project

Prospect

Grade Range

Low case Tonnes (Mt)

High case Tonnes (Mt)

Brockman Iron

BHP20

50-63% Fe

7

33

Brockman Iron

BHP15

50-65% Fe

60

200

Hancock Ranges

Sirius Extension

56-63% Fe

5

15

TOTAL





74

245


Note: exploration data utilised in the model for the Exploration Targets included geological mapping, drill hole data, surface and rock-chip sampling, iron ore assay data from drilling and rock-chip sampling, and adjacent drilling and mapping of the mineralised iron ore formations.


Due to lack of drilling data (primarily at BHP 20 and BHP 19), there is currently insufficient information to allow for a resource estimate in accordance with the JORC Code (2012) guidelines. Management is currently working with the Company's geological consultants regarding next-stage exploration, leading into maiden drilling programmes.


Grade Range

The iron ore grade ranges are based on the minimum and maximum assayed grades from previous drilling and sampling programmes at the Brockman Iron and Hancock Ranges projects.


Tonnage Range

A specific gravity (SG) of three was used to calculate the tonnage ranges and are based on SG's used by neighbouring producers/developers within the Hammersley province, including Brockman Mining at their Sirius Project.



Finalisation of field programmes are being done with planning to get a team into the field as soon as possible.


Where the Company refers to previous Exploration Results it confirms that it is not aware of any new information or data that materially effects the information included in previous announcements and all material assumptions and technical parameters disclosed in those announcements continue to apply and have not materially changed.

 

Silver demand growing while supply declines 17 Jul 2020, 3:31 p.m.
As a physical commodity, silver is ultimately driven by supply and demand. Trends for the past few years show that demand for silver is growing, but supply is dropping at the same time. 2020 could see both of these issues exacerbated and the silver price continue to rise.

Total demand for silver grew by 0.4% to 991.8 million ounces in 2019. At the same time investment demand shot up by 12% to 186.1 million ounces. It shows a shift in sentiment which increasingly sees investors viewing silver as a safe haven investment opportunity rather than a simple industrial commodity.

Despite the growing demand, silver mining supply declined for the fourth consecutive year, falling by another 1%, in 2019.

Silver is generally mined as a by-product from mining for other industrial metals, such as copper and zinc. Its lower price per ounce makes it less profitable to mine, which can make it less of a goal for mining companies.

Silver has a smaller investment bullion market than gold, and instead reflects the industrial market more closely. This means that any change in industrial production can have a great impact on the silver price. More volatile than gold, silver has been described as 'gold on steroids'. For example, during the run on gold from 1970 to 1980, gold rose by 2,328%, whilst silver soared by 3,105%. Again, in the 2008 to 2011 run, gold climbed by 166% and silver by 448%.

During the coronavirus crisis, gold prices have been climbing overall and therefore many investors predict similar but more exaggerated moves from silver. Investment demand has certainly risen significantly since March, with demand regularly outstripping supply for silver coins and bars.

The effects of the pandemic are only escalating in the US, and the comparatively low price of silver may therefore see growing numbers of US investors turning to the popular safe haven. This would further add to current demand, and prices have been rising in the US since March

With some mines having to shut down, or reduce production due to the coronavirus, supply will likely fall again this year as well. With investment demand growing and industrial demand returning following shutdowns, the further demand outstrips supply, the more the price for silver will climb
Falling mining production, increasing investor demand and a possible post-pandemic industrial recovery could all push the price of silver bullion still higher. With gold forecast to nearly double in value in the next few years, more investors will turn to silver while the price remains low. As the ratio comes down however then silver could see significantly higher gains than gold even.

 

1 September 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


CEO Appointment and Grant of Share Options


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to announce the appointment of Technical Director, Bill Brodie Good, as CEO of the Company with immediate effect. Bill has been a director of Alien Metals since July 2019 and, in that time, has been heavily involved in the Company's technical and corporate activities.


Non-executive Chairman Dan Smith said: "I have been working closely with Bill now for over a year and I have been impressed with his commitment and focus to help drive the Company forward. By appointing Bill as the CEO, the Company is essentially formalising the role Bill has been fulfilling."


Additionally, the Company announces that following a recommendation of the Nomination & Remuneration Committee, it has granted options over the Common shares of the Company ("Options") to directors under the terms of the Company's EMI Share Option Plan, which also makes provision for the award of non-EMI share options, as set out below.


The Exercise Price premium as set out below, is by reference to the closing mid-market price of 0.41 pence on 28 August 2020, the day the agreement was reach to issue the Options, and ranges from 10% to 37%. Furthermore, based on the 30-day VWAP of 0.281 pence the premium ranges from 60% to 96%.

 

September 2020


Alien Metals Ltd

("Alien Metals" or "the Company")



PLACING TO RAISE £1.25 MILLION TO DRIVE EXPLORATION ACTIVITIES


Alien Metals Ltd ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to announce that it has conditionally raised £1,250,000, before expenses, in a Placing and Subscription of 227,272,727 new ordinary shares of no-par value ("Placing Shares") at a price of 0.55 pence per share (the "Issue Price") (the "Placing").


The proceeds from the Placing are earmarked for a range of exploration activities across the Company's portfolio, with immediate programmes to commence both in Mexico and Western Australia, subject to any Covid-19 related restrictions.


Highlights:

· Proceeds of the Placing to be utilised for high-impact exploration in Mexico and Australia

- Initial and infill drilling to define strike and depth potential and grades of known mineralised veins at the Los Camposand San Celso Silver Projects in Mexico following finalisation of drill permit applications

- Preliminary Scoping study on the San Celso Silver project

- Development of exploration work on Elizabeth Hill Silver project post acquisition to include detailed geological mapping and trenching programme followed by initial drilling

- Next stage drilling on the Donovan 2 copper-gold project to develop resource potential

- Initial drilling on highest priority targets of the Iron Ore projects in Australia

· Funds will also be used to evaluate strategic opportunities and to conduct detailed reviews on prospective new projects


THE PLACING


The Company is pleased to announce that it has conditionally raised £1,250,000 (before expenses), through a Placing and Subscription of 227,272,727 new ordinary shares of no-par value each in the capital of the Company (the "Placing Shares") at an issue price of 0.55 pence per share (the "Issue Price") (the "Placing").


The Issue Price represents a discount of approximately 36 per cent. to the closing mid-market price of 0.86p on 3 September 2020, and a premium of approximately 7.8 per cent. to the 10-day VWAP of 0.5569p up to the close of business on 3 September 2020, being the latest practicable date before this Announcement.


The Placing was arranged by Turner Pope Investments (TPI) Limited ("Turner Pope") and undertaken with a combination of certain new and existing investors.




Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:


"I am really pleased with the Placing result and ongoing strong support from Turner Pope Investments and its clients.


"The proceeds of this Placing will be utilised to fast-track activities at the high-grade Elizabeth Hill silver project, through a mixture of surface sampling and trenching programmes initially. With the strengthened silver price and strong demand outlook, the Company is well placed with a portfolio of high-grade projects that demand further exploration and development.


"We are eager to undertake a follow-up work programme at the Hamersley Iron Ore projects in the Pilbara region of Western Australia, which is planned to commence later this month.


"We will also continue to push for the award of drill permits in Mexico to pursue our maiden drilling programmes on both San Celso and Los Campos Silver projects.


"The Company looks forward to updating the market on a range of fronts in coming months."



USE OF PROCEEDS

The net proceeds secured from the Placing will be utilised towards exploration and development of the Company's assets, including the following activities subject to any Covid-19 related restrictions in the coming months:


Mexico


Placing proceeds will be used, following the receipt of the relevant drill permits, to fund maiden drill programmes at both the San Celso and Los Campos silver projects to start developing, via drilling initial resource data. Metallurgical testing will be factored in as well as, for San Celso, the objective of continuing to add strategic ground contiguous to the project to enhance its potential and ground holding. An initial scoping study is also envisaged for San Celso following first pass drilling results.


For the Donovan 2 gold and copper project additional funds will be allocated for follow up and in-fill drilling once the maiden drill programme has been completed along with some initial metallurgy and as required geotechnical studies to enhance the Company's knowledge and understanding of the potential of the project.


Alien will also continue to review other projects that would fit with the Company's strategy and experience within Mexico and surrounding jurisdictions as well.


Australia


Following finalisation of the digitisation of historical data, the Placing proceeds will be used to update resource modelling and undertake a comprehensive trenching and sampling programme at the Elizabeth Hill Silver project with possibility of some initial drilling to follow.Completion of the acquisition by the Company of the Elizabeth Hill Silver project is subject to the vendor's shareholder approval expected on 25 September 2020.


Assuming completion of the acquisition, as per the RNS dated 25 August 2020, the Company plans to follow-up on five priority prospects that were identified for next stage exploration. For the Brockman Project, three targets focus on the historic high-grade BHP prospects numbers 15, 19 and 20, which the Company has planned to follow-up with detailed grid-based surface mapping and sampling to support a maiden drilling programme. Two key targets in the Hancock Ranges Project are the Sirius Extension prospect, which has previously been drilled by Volta Mining (refer RNS dated 20 September 2019 for further information), and the Kalgan Prospect in the north-north-west of the project, which the Company believes has excellent potential.


Part of this current funding is also planned to be used for some initial scout drilling on the highest priority targets following the planned field mapping and sampling work.


Admission to trading on AIM


The Placing is conditional on Admission of the Placing Shares to trading on AIM and, following Admission, the Placing Shares will represent, in aggregate, approximately 8.6 per cent of the Company's enlarged issued share capital. The Placing Shares will rank pari passu with existing Ordinary Shares in issue and application will be made to the London Stock Exchange for the 227,272,727 Placing Shares to be admitted to trading on AIM. Admission of the Placing Shares is expected to become effective at 8:00 am on or around 11 September 2020.

Following Admission, the Company will have 2,633,718,222 Ordinary Shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 2,633,718,222 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Broker Warrants

In addition, Turner Pope has been issued with 12,000,000 warrants to subscribe for new Ordinary Shares at 0.6 pence, exercisable for a period of three years from Admission.

 

Bill Brodie Good, Technical Director of @AlienMetals (#UFO.L) Podcast - high-impact exploration in #Mexico and #Australia

– Development of exploration work on Elizabeth Hill #Silver project
– Next stage drilling on the Donovan 2 #copper-#gold project



https://www.share-talk.com/bill-brodie-good-technical-director-of-alien-metals-ufo-l-podcast/

 

Bill Brodie Good, Technical Director of Alien Metals (UFO.L) Podcast
abm September 6, 2020
On Friday we spoke with Bill Brodie Good, Technical Director of Alien Metals after they announced that it has conditionally raised £1,250,000, before expenses, in a Placing and Subscription of 227,272,727 new ordinary shares of no-par value (“Placing Shares”) at a price of 0.55 pence per share (the “Issue Price”) (the “Placing”).


The proceeds from the Placing are earmarked for a range of exploration activities across the Company’s portfolio, with immediate programmes to commence both in Mexico and Western Australia, subject to any Covid-19 related restrictions.



Highlights:

· Proceeds of the Placing to be utilised for high-impact exploration in Mexico and Australia

– Initial and infill drilling to define strike and depth potential and grades of known mineralised veins at the Los Campos and San Celso Silver Projects in Mexico following finalisation of drill permit applications

– Preliminary Scoping study on the San Celso Silver project

– Development of exploration work on Elizabeth Hill Silver project post acquisition to include detailed geological mapping and trenching programme followed by initial drilling

– Next stage drilling on the Donovan 2 copper-gold project to develop resource potential

– Initial drilling on highest priority targets of the Iron Ore projects in Australia

· Funds will also be used to evaluate strategic opportunities and to conduct detailed reviews on prospective new projects

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:

“I am really pleased with the Placing result and ongoing strong support from Turner Pope Investments and its clients.

“The proceeds of this Placing will be utilised to fast-track activities at the high-grade Elizabeth Hill silver project, through a mixture of surface sampling and trenching programmes initially. With the strengthened silver price and strong demand outlook, the Company is well placed with a portfolio of high-grade projects that demand further exploration and development.

“We are eager to undertake a follow-up work programme at the Hamersley Iron Ore projects in the Pilbara region of Western Australia, which is planned to commence later this month.

“We will also continue to push for the award of drill permits in Mexico to pursue our maiden drilling programmes on both San Celso and Los Campos Silver projects.

“The Company looks forward to updating the market on a range of fronts in coming months.”

 

https://www.yumpu.com/en/document/read/64099243/september-2020-alien-metals-presentation-final

 

RNS Number : 1732Z
Alien Metals Limited
16 September 2020





Trading Symbols

AIM: UFO

FWB: I3A1

16 September 2020


Alien Metals Ltd

("Alien" or "the Company")


http://www.rns-pdf.londonstockexchange.com/rns/1732Z_1-2020-9-16.pdf


Field work confirms high grade Silver at San Celso and Los Campos Silver projects, Mexico and

Strike length of Silver mineralisation extended through acquisition


Alien Metals Limited ("Alien Metals" or "Company"), the exploration and development company, is pleased to announce results of the recent sampling programmes on the San Celso and Los Campos silver projects in Mexico. The results show strong correlation with historic results, increasing confidence in future drilling programmes to be undertaken at San Celso and Los Campos. The Company has also signed final legal documentation to allow it to carry out exploration work with an option to acquire the Nueva Andromeda permit located contiguous to the east of the San Celso project area. Both of these events tie into the long-term development plans for these projects.


Highlights:

- Sampling programme results show excellent correlation with historic sampling

- Continued high-grade results across both projects

- Added detail for maiden drill campaign planning

- Option agreement signed for acquisition of highly prospective Nueva Andromeda permit adjacent to the San Celso project, expanding project footprint and mineralisation potential (increasing strike length to nearly 3000 metres ('m'))

o Permit hosts a continuation of the Andromeda vein, which runs into the San Celso project

o Andromeda vein has been mapped with historical workings for over 500m


Bill Brodie Good, Chief Executive Officer, commented:

"We are pleased to have completed further underground and surface sampling at San Celso and Los Campos. In total, 12 samples were collected across the projects as well as some surface reconnaissance on neighbouring ground on strike south of the San Celso project area with signs of further historic mining. The results further validate the high-grade underground grades; the continuity away from the historic workings encourages us to push ahead with the next stage drilling work. Recent heavy rains and underground conditions limited the extent of the sampling programmes, however we are looking forward to getting back on the ground in the near-term.

"With the acquisition of the Nueva Andromeda permit, we will enhance the potential of the San Celso project. We believe the combined project area hosts the potential to be a sizeable, high-grade silver project, and we are looking forward to being able to do further mapping and sampling over the Andromeda vein prior to the next stage of drilling."


Figure 1: Location of San Celso and Los Campos projects, Zacatecas Silver Belt, Mexico


San Celso (Silver)

Background


Located within the Zacatecas Silver belt of Mexico, the San Celso project is a highly prospective silver target in a favourable mineralised district. Previous exploration programmes at San Celso have highlighted the high-grade silver potential of the project.


Having located recently the details of the 2006 underground sampling undertaken on the San Celso and Las Christinitas historic mines, the Company was given significant encouragement for the project as they highlight the continuous high-grade nature of the historic workings and show that the mineralisation continues on strike and down dip within the historic mined areas. In 2006, the Company (as Arian Silver) collected a total of 438 samples from the San Celso and Las Cristinitas underground workings and surface dumps, and the three levels were accessible in the San Celso mine by approximately 130m of ladder. Of these, 265 chip-channel samples were from the Las Cristinitas workings. Assay results included a 4.65m interval at >1000 grams per tonne ('g/t') silver ('Ag') including 1.05m at 2,683 g/t Ag, 78.2 ounce per tonne ('Oz/t') Ag with an average of 460 g/t Ag from 60 samples > 200 g/t Ag from the La Christinitas vein and an average of 497 g/t Ag from 77 samples > 200 G/t Ag from the San Celso vein.


Update


The recent follow up underground sampling programme was designed to confirm previous sampling as well as infill certain gaps to get a complete picture and understanding of the main mineralisation. Four samples were taken underground from the San Celso historic mine area, at the 2,132m level.


The new assay results support the historic sampling with sample suite SC066 returning composite 0.9m at 477 g/t Ag (including sample SC066B that returned 950 g/t Ag from a 30 cm channel sample) compared to the 2006 sample result of 0.5m at 422 g/t Ag, while sample suite SC062 returned composite 1.4m at 225 g/t Ag compared to the 2006 sample results of 1.6m at 335 g/t Ag. The samples were taken as close to the originals as possible and confirm to Alien the high grade and economic widths of the Las Christinitas vein.


Surface reconnaissance was undertaken to the south east of the San Celso project boundary, which revealed more historic workings and continued high grade silver potential along strike. Alien is in the process of applying for the surrounding vacant areas.




Figure 2: Location and grade of samples (red, AgEq) with 2006 sampling results, San Celso Mine, San Celso Project, September 2020



Figure 3: Detailed location and silver results of underground samples, 2132 Level, San Celso Mine, September 2020



Los Campos (Silver)

Background


Located within the Zacatecas Silver belt of Mexico, previous exploration activity at Los Campos highlighted the high-grade silver potential of the project, which features a historic mine within the project area which records show was mined between 1883 until all work stopped in 1904. The mine achieved an average mine head grade of over 1,000 g/t Ag (32.2 oz/t Ag) in the early 1890s. The project is also situated adjacent to Endeavour Mining's (TSX:EDV) El Compas operating silver-gold mine.


Update


As at the San Celso project, Alien was keen to access and sample part of the historic underground mine to add knowledge and understanding of the mineralised systems to better plan and target a future drilling campaign.


The Company's exploration team attempted to access the underground workings at Los Campos, however they were unable to safely access historic adits due to recent torrential rain and unstable entry points. Alien intends to revisit the Los Campos project in the coming months to refurbish entry areas.


Further surface sampling and review work was carried out in the central southern area of the project, along the surface from historical workings. This returned some further excellent results associated with the main north-west/south-east trending workings, with a maximum result of 361 g/t Ag. These results support previous sampling and add further encouragement for the next stage of exploration and upcoming maiden drilling programme. Samples from smaller vein systems striking oblique to the main system returned background results helping to focus next stage onto the core known defined mineralised veins already identified.


Table 1 below summarises all results from the recent sampling programme for both project areas. Due to the number of samples submitted and the reconnaissance focused nature of the programme, Alien did not insert any standard or blank samples into the sample batch. The in-house sample QA/QC completed by ALS was deemed acceptable for the purposes of this work. All samples were analysed by Aqua Regia Digest with ICP finish for Au for 35 elements at ALS Zacatecas, Mexico.


Alien is now focussed on finalising necessary permitting to carry out maiden drill programmes on both projects as soon as possible.

 

Alastair Ford


10:58 Wed 16 Sep 2020

Follow Alastair on:

Investor deep dive

Alien Metals Ltd has a diverse portfolio of commodities

Alien Metals expands its silver footprint in Mexico with new ground around San Celso, as latest samples provide further encouragement
Alien Metals has a diverse portfolio of base and precious metals assets


Alien Metals Ltd (LON:UFO) has said the latest sampling programme conducted on the San Celso and Los Campos silver projects in Mexico has returned results that strongly correlate with historic work, increasing confidence in future drilling programmes to be undertaken at both, with the grades highly encouraging.

The company also said it has signed final legal documentation to allow it to carry out exploration work with an option to acquire the Nueva Andromeda permit located contiguous to the east of the San Celso project area.

Both of these events tie into the long-term development plans for these projects, and it is notable that Alien continues to increase its silver footprint in Mexico.

It is thought that the acquisition of the Nueva Andromeda permit will enhance the potential of San Celso, as the combined project area hosts the potential to be a sizeable, high-grade silver project.

"We are pleased to have completed further underground and surface sampling at San Celso and Los Campos,” Alien Metals' chief executive Bill Brodie Good said in a statement.

“In total, 12 samples were collected across the projects as well as some surface reconnaissance on neighbouring ground on strike south of the San Celso project area with signs of further historic mining. The results further validate the high-grade underground grades. The continuity away from the historic workings encourages us to push ahead with the next stage drilling work.”

 

22 September 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figures:



http://www.rns-pdf.londonstockexchange.com/rns/6498Z_1-2020-9-21.pdf


Next stage exploration underway at Hamersley Iron Ore Projects


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to advise that further to the RNS dated 25 August 2020, follow-up detailed geological mapping and sampling is underway at the Company's Hamersley Iron Ore Projects.


Highlights:

- Programme to validate recently announced Maiden Exploration Targets across both projects and will consist of:

o 4-5km of grid-based sampling across priority prospects; and

o Detailed mapping over exposed iron ore formations

o Drill access planning in the field

- Assay results from sampling expected late October

- Preparation of maiden drilling campaign to follow


Chief Executive Officer, Bill Brodie Good said: "The Company is extremely pleased with the results and findings of the recent detailed data compilation, which helped generate maiden Exploration Targets for both projects. The field work undertaken last year replicated the high-grade DSO results previously recorded at the projects and so our next objectives are to carry-out further exploration work, including an upcoming maiden drilling programme, to potentially convert the Exploration Targets into JORC compliant resources.


"We are very fortunate that we could quickly mobilise an experienced geological team into the field to carry out the planned exploration work. This will allow us to continue to develop these projects up the knowledge and value curve.


"The Company is excited about the potential to add significant value to the projects and developing next stage exploration from the outcome and looks forward to updating the market of progress in due course."


Figure 1: Location of the Brockman and Hancock Ranges Iron Ore projects within the prolific iron ore producing region of the Pilbara


Background


The two projects are within the Hamersley Province of Western Australia, known as one of the premier iron ore producing regions of the world. The Brockman Project (E47/3953) is located in the west Hamersley Province, 100 kilometres ("km") northwest of the Rio Tinto iron ore mining town of Tom Price, and 90km west of the Tom Price to Dampier mine railway. The Hancock Ranges Project (E47/3954) is located in the east Hamersley Province, 15km north of the BHP iron ore mining town of Newman, and 20km west of the Newman to Port Hedland mine railway.


As announced 25 August 2020, five priority prospects were identified with next stage exploration plans proposed. For the Brockman Project, three targets focus on the historic high-grade BHP prospects numbers 15, 19 and 20. Two key targets in the Hancock Ranges Project are the Sirius Extension prospect, that has previously been drilled by Volta Mining (refer RNS dated September 20, 2019 for further information), and the Kalgan Prospect in the north-west of the tenement, that the Company believes has excellent potential.


Update


The follow-up exploration programme is planned to take a couple of weeks and will focus on detailed grid-based surface mapping and sampling to better define the 5 priority areas being targeted for upcoming drill planning. Access for drilling will also be marked out while in the field to support the maiden drilling programme. The geological team will be self-sufficient camping within the tenements to enable maximum field time for the programme duration.



Figure 2: Field equipment set-up, Hamersley Exploration team


All samples generated will be despatched to Intertek Genalysis at Maddington, WA, and analysed for their Basic Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis used in the 2019 due diligence site visit and it will maintain consistency and comparability between these analyses.



Figure 3:Location of BHP historic deposits in relation to E47/3953 Brockman Project



Figure 4: Interpreted Geology of E47/3954 Hancock Ranges Project with main prospects



The Board of Alien continues to assess a range of mineral projects and opportunities, with particular focus on exploration projects with near term news flow and value creation.


For further information please visit the Company's website at www.alienmetals.uk,

 

RNS Number : 1633A
Alien Metals Limited
25 September 2020







Trading Symbols

AIM: UFO

FWB: I3A1


25th September 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


KMG Shareholders approve sale of High-Grade Elizabeth Hill Silver Project to Alien


Alien Metals Ltd (LSE AIM: UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to advise that further to the announcements of 10 August 2020 and 4 December 2019, the Shareholders of Karratha Metals Group Limited ("KMG") have, at an Extraordinary General Meeting held today, unanimously approved the sale of the Elizabeth Hill Silver project to Alien Metals ("Transaction"). Accordingly, as per the Acquisition Agreement the Company will be issuing 200,000,000 Common Shares ("New Ordinary Shares") and 50,000,000 warrants on the terms outlined in the announcement of 4 December 2019 as consideration for the acquisition. The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue and application has been made to the London Stock Exchange for 200,000,000 New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to become effective at 08.00 on or around 30 September 2020.

Following the issue of the New Ordinary Shares, the Company will have 3,021,122,389 ordinary shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 3,021,122,389 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Company and KMG will now work to have the Elizabeth Hill Licence transferred to Alien; this is expected to take approximately four weeks and the Company will make a further announcement once this is complete


Commenting on the results of the shareholder meeting, CEO Bill Brodie Good said: "This was the last remaining condition precedent to the acquisition of Elizabeth Hill. We look forward to completion taking place shortly, and I welcome all incoming KMG shareholders to the Company.


"We are ready to commence field work at Elizabeth Hill and execute on our exploration strategy to advance the project"


About the Elizabeth Hill Silver Project

The Elizabeth Hill Silver Project is situated approximately 45 km south of the town of Karratha in the 61,000 km2 Achaean Pilbara Block of the Pilbara Craton. The Project is well located, lying 40 km from the deep-water port at Dampier and 8 km from rail infrastructure. Grid power and groundwater are available on site, and the area has an abundant skilled workforce nearby.


High-grade silver was discovered during nickel-copper exploration by AGIP in 1987. Further exploration of the project by ASX-listed East Coast Minerals (now KMG) and Legend Mining Ltd (ASX-LEG) discovered a very rich silver deposit. Mineralisation is related to shear structures that are related to the Munni Munni Complex lying immediately to the west. Native silver and lesser amounts of silver sulphide minerals occur as both fine and coarse grains within a coarse-grained calcite vein stockwork.


The Project was mined between 1998 and 2000 via underground mining, primarily between the 62 m and 102 m levels. Silver production totalled approximately 16,800 tonnes of ore grading 2,195 g/t Ag (70.24 oz/t Ag) generating 1,170,000 ounces, including some very large specimens of native silver.


Refer to the RNS dated 4 December 2019 for full details of the Transaction (https://www.alienmetals.uk/news/alien-to-acquire-high-grade-historic-australian-silver-mine).



For further information please visit the Company's website at www.alienmetals.uk,

 

RNS Number : 3528A
Alien Metals Limited
29 September 2020


Trading Symbols

AIM: UFO

FWB: I3A1


29 September 2020

Alien Metals Ltd

("Alien" or "the Company")


Unaudited interim results for the six months ended 30 June 2020


Alien Metals Ltd ("Alien" or the "Company") is pleased to announce its financial results for the six months ended 30 June 2020.


Dan Smith, Chairman of Alien, commented: "The first half of 2020 has been a more challenging environment for exploration and development companies due to the Covid-19 health crisis. However, it is pleasing to report that Alien has been able to continue various workstreams for the Company across the asset portfolio. Key deliverables have included: completion of the IP Survey at the Donovan 2 copper-gold project, the acquisition of a 51% interest in the Hamersley iron ore projects, the undertaking of underground sampling at the Company's San Celso and Los Campos silver projects, and the completion of a detailed data compilation at Elizabeth Hill silver and the Hamersley projects ahead of upcoming work programmes.


The Company's strategy of identifying and acquiring brownfields exploration assets or opportunistic and counter-cyclical transactions has started to pay dividends. The silver price has strengthened considerably since earlier this year, which bodes well for our diversified high-grade silver portfolio, and the iron ore price has remained extremely resilient, with a robust outlook.


We have recently announced that the Company's Technical Director, Bill Brodie Good, has assumed the role of Chief Executive Officer, which demonstrates the commitment the Board has to progressing the project portfolio in a disciplined fashion.


Management looks forward to continuing the diversification and monetisation strategy of the Company's asset base, including through the identification and acquisition of complimentary project opportunities, and unlocking value in our existing assets, as has been demonstrated through the recently announced exclusivity agreement with Capstone Mining."


A copy of the Interim Report is available on the Company's website www.alienmetals.uk


Strategy

Alien Metals' objective is to create a multi-commodity portfolio of mining projects in jurisdictions with established mining communities, stable political backgrounds, and where strong operational controls can be assured.


The Group has operated in Mexico for over ten years, during which time it has established long-term relationships with local government, communities, and key stakeholders. The Company has retained consultants who have significant exploration and mining experience and have worked with the company for many years. Alien also has excellent contacts in Australia who are able to provide technical support for the current projects going forward.


Alien Metals' geological experts assess and identify projects for the potential to host significant economic mineralised systems. Wherever possible, the projects are acquired on a low-cost option basis whilst preliminary exploration is undertaken to assess the merits of further work.


The Company routinely evaluates mining projects in jurisdictions other than Mexico: during 2020, this included West Africa, Europe and Australia. Other than the Elizabeth Hill Silver Project, none of these evaluations has led to the Company making an acquisition as they have not reached the Company's criteria.


Where preliminary studies evidence sufficient mineralisation, increasingly comprehensive studies will be undertaken with a view to delineating a compliant mineral resource estimate in readiness of potential sale of the asset to a producing mining company, at which time a significant premium over its acquisition and development cost may be justified.


Financial highlights

As at 30 June 2020, the Company had total assets of US$1.6 million (2019: US$1.2 million), of which US$0.7 million (2019: US$0.4 million) was cash. The Company had total liabilities of US$0.1 million (2019: US$0.1 million), of which US$0.1 million were current liabilities (2019: US$0.1 million).


In the six months ended 30 June 2020 the Company made an operating loss of US$0.4 million (2019: US$0.6 million) and a loss per share of US$0.0003 (2019: US$0.0005). However, an amount of US$1.2 million before costs and expenses was raised through the private placings of shares, to further the Company's strategy.


Overview of operations

During 2020, the Group completed its initial high level exploration programme over its portfolio of mining concessions covering an area of over approximately 1,500 hectares, to develop and direct future exploration work.


As at 30 June 2020, the Company held 12 fully owned mining concessions in Mexico, a 51% interest in the Hamersley Iron ore projects in Australiaand is in the process of acquiring 100% of Elizabeth Hill Silver project in Australia. An initial LOI to acquire the Andromeda tenement adjacent to San Celso Project in Mexico is also in place.


Copper / gold project

Donovan 2 project

The Company's 750-hectare Donovan 2 flagship project is located to the southeast of Zacatecas city and in close proximity to Alien's portfolio of other wholly owned projects along the Mexican precious and base metals belt. The Teck Resources San Nicolás copper zinc deposit and Minera Frisco El Coronel gold mine are both located within 25km.


Alien Metals' preliminary exploration programme on this project, has identified several areas that exhibit pathfinder indicators of volcanogenic massive sulphide (VMS)-style mineralisation, and ground magnetic geophysics and induced polarisation have confirmed indications of sub-surface VMS-style mineralisation.

A maiden drilling programme is being finalised to fully test the main targets.


Silver projects

Elizabeth Hill (Option to acquire 100%)

The Elizabeth Hill project is situated approximately 45 km south of Karratha in the 61,000 km2 Achaean Pilbara Block of the Pilbara Craton. The Project is well located, lying 40 km from the deep-water port at Dampier and 8 km from rail infrastructure.


The Elizabeth Hill Silver Project was mined between 1998 and 2000 via underground mining, primarily between the 62 m and 102 m levels. Silver production totalled approximately 16,800 tonnes of ore grading 2,195 g/t Ag (70.24 oz/t Ag) generating 1,170,000 ounces Ag, including some very large specimens of native silver.


Los Campos project

The Los Campos project comprises four concessions covering an area of approximately 500 hectares and is located on the south side of the city of Zacatecas and bounds the Endeavour Silver El Compas gold mine. The property encompasses at least two known veins: the Los Campos vein and the San Rafael vein and is easily accessible by a short drive from the centre of the City of Zacatecas.


The Los Campos vein systems have been developed along a strike distance of over 3km and to depths exceeding 100m. Historic geological mapping and sampling has identified the potential for additional veins running either parallel or nearly parallel to the Los Campos vein.


San Celso project

The 88-hectare San Celso project is located in the historic mining district of Pánfilo Natera-Ojocaliente and is surrounded by other concessions to the south and west. It encompasses two veins: the San Celso and Las Cristinitas veins. Recent exploration carried out during 2019 and 2020 confirmed the high-grade potential of this project, with recently reviewed historic underground sampling in the San Celso mine included a 4.65m interval at >1,000 g/t Ag including 1.05m at 2,683 g/t Ag, 78.2 oz/t Ag.


As part of an ongoing portfolio review, Alien is in the process of relinquishing the other historically held tenements in Mexico. Following a detailed review of these tenements, the Company felt they are low priority and do not warrant further expenditure. The tenements dropped will be Donovan 1, Africana and Navidad.


Iron Ore Projects

Hancock Ranges Project - 51%

The Hancock Ranges Iron Ore Project. E47/3954, is within 20kms of the Newman township and borders licences held by Fortescue Metals Group, Hancock Prospecting, BHP Billiton (Mount Whaleback), Hope Downs and Brockman Mining.


The License has been subject to historical exploration by Rio Tinto plc, BHP Group plc, and more recently Volta Mining Limited, where drilling intercepted mineralisation within the Brockman Iron Formation including 126m @ 60.28% Fe from surface (Hole 14SERC004).


Brockman Iron Project - 51%

This tenement hosts part of the historic BHP Deposit 20 iron ore target and the historic BHP Deposit 19 Fe target sits on the south-eastern boundary.


This tenement is dominated by the Brockman Iron Formation which underlies the majority of the tenement area. Recent alluvial cover is prevalent and covers the indicated Brockman Iron Formation.

BHP, as part of their much larger regional programme, identified these two 'deposits' from a combination of mapping and surface rock chip sampling. This sampling was undertaken by BHP at both the 19 and 20 prospects and the samples were analysed for a standard suit of iron ore related elements. The average iron content of four rock-chip samples from prospect 19 was 62% Fe and the average for five samples from prospect 20 was 63.3% Fe.


Future outlook

The Company is looking towards further advancing its existing portfolio of prospective silver and copper/gold projects in Mexico and silver and iron ore projects in Australia, as well as seeking joint venture opportunities. Reviews are ongoing for adding projects to the Company portfolio and also finding partners for existing projects to support future work and development.


Post balance sheet events


On 23 July 2020, Mark Culbert was appointed an independent non-executive director of the Company.


On 1 September 2020, Bill Brodie Good, the Company's Technical Director since his appointment on 23 July 2019, was appointed as the Company's Chief Executive Officer.


On 4 September 2020, the Company raised £1,250,000 (before costs), in a placing and subscription of 227,272,727 new ordinary shares at a price of 0.55 pence per share. The shares were admitted to trading on AIM on 11 September 2020.


On 9 September 2020, the Company entered into an Exclusivity Agreement in respect of the potential farm out of an interest in its Donovan 2 Copper-Gold project in Mexico. The Exclusivity Agreement is with the mid-tier North American mining company Capstone Mining Corp, providing for a 45-day period for Capstone to undertake due diligence.


On 14 September 2020, the Company announced that it had issued in aggregate, 92,812,500 new ordinary shares following the exercising of unlisted warrants, raising £234,217.


On 18 September 2020, the Company announced that it had issued in aggregate, 72,291,667 new ordinary shares following the exercising of unlisted warrants, raising £103,625.


On 22 September 2020, the Company announced that follow up exploration was commencing at the Company's 51% owned Hamersley Iron Ore projects. The exploration programme will target 5 priority targets across the two projects and will consist of grid-based sampling and detailed mapping.


On 25 September 2020, the Company announced that it had issued in aggregate 22,300,000 new ordinary shares following the exercise of unlisted warrants and options, raising £38,250.

 

01 October 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figures: http://www.rns-pdf.londonstockexchange.com/rns/6911A_1-2020-9-30.pdf


Proposed Acquisition of highly-prospective license application surrounding Elizabeth Hill Silver Project and Munni Munni PGE deposit


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to announce that it has agreed to acquire, subject to granting and ministerial consent, 117km2 of tenure adjacent to and surrounding the Company's Elizabeth Hill Silver Project in Western Australia along with associated historic technical data (the "Transaction"). The tenement ELA 47/4422 includes a range of precious and base metal prospects identified by previous operators.


Highlights:

- ELA 47/4422 includes priority prospects within 10km of the Company's Elizabeth Hill Silver Project, including:

o Sunchaser: Located 5km west of the hundo copper mine and consisting of two Electro-Magnetic (EM) conductors. Previous Reverse Circulation (RC) drilling reportedly returned 6.1m @ 3.1% zinc from 28.4m depth.

o Conquest: Copper-zinc-lead occurrences have been located on the surface in the immediate vicinity of two modelled EM conductors. Previous RC drilling returned 25m @ 0.52% copper from 144m depth.

o Carver: Situated along the Maitland intrusion (which controls mineralisation at Sunchaser and Conquest), the prospect covers an area that appears to be a major conduit for fluids, identical to the structural setting proposed for the intrusion of the Radio Hill Layered Complex to the north west.

o Munni Munni East: south of Elizabeth Hill, situated alongside the Munni Munni fault and host to mineralised gossans.

- License includes southern extension of highly prospective fault structures, including the Munni Munni fault which controls the mineralisation of the Munni Munni Platinum Group Elements (PGE) project (2.1moz PGEs) (refer RNS 4 December 2019)

- Transaction includes the acquisition of all available historical technical data including ~600 historical soil samples ready for assaying

o Soil samples have been despatched to ALS Global in Perth for full assay suite analysis

- Planning for Alien's geological team to get on ground as soon as possible to commence trenching/costeaning, further mapping and grid based soil sampling


Technical Director Bill Brodie Good said: "We are thrilled about the conditional acquisition of this license as it adds considerable exploration potential to the Company's portfolio, with numerous new and exciting targets to develop. It adds significant tenure to the Elizabeth Hill Silver Project area allowing us to work from a central location on several different targets and commodities having a range of known prospects that are prospective for precious and base metals. We know that some of these are almost walk up targets and with the extensive data acquisition we hope to uncover more prospects to develop. This area has been quite neglected for many years and the Company is keen to get on the ground and make new discoveries."



Figure 1: Location of the Elizabeth Hill Silver Project, Western Australia


ELA 47/4422

ELA 47/4422 is a 117km2 tenement which wraps around the Elizabeth Hill Silver mine on all sides and includes a portion of the Munni Munni intrusive complex to the south and southwest (Figure 2). The highly prospective Munni Munni fault strikes north-south through the tenement and into the Elizabeth Hill ML on which the Elizabeth Hill Silver deposit is associated with. This structure also appears to be associated with the Munni Munni East prospect and remains to be fully tested. ELA 47/4422 is an Exploration License Application that will be granted following completion of the standard Native Title process which is expected to take around 4 months. Following this and 12 months from the date of grant, Alien will apply for the transfer of the Licence to its wholly owned subsidiary subject to Ministerial approval. Alien is able to undertake exploration work during this period.


Local Geology

The geology of ELA 47/4422 partly covers areas of the lower part of the Munni Munni Intrusive Complex, at the contact of a basalt and ultramafic sequence hosted within two distinct gneisses, the Archean Nallana Formation and granitoid country rocks. The Munni Munni Complex is exposed over a surface area of 8 km by 14 km and has a stratigraphic thickness of over five kilometres. Aeromagnetic and gravity data indicate that the complex continues a further 16 km to the southwest beneath a cover of Proterozoic sediments.


The Complex comprises mainly ultramafic and mafic rock types that exhibit differentiation and layering features. The Elizabeth Hill silver mineralisation is located at the base of the complex, within pyroxenitic sequences immediately overlying basement granites.



The Munni Munni fault is a major north-south regional structure with a horizontal displacement in excess of 500 m, along which the Elizabeth Hill Mineralisation has been intersected over only a 100 m north-south zone along the boundary of the fault. There are also several cross-cutting faults and structures that represent excellent trap sites for potential mineralised orebodies.



Figure 2: Elizabeth Hill Silver Project and ELA47/4422 over simplified geology and showing main known prospects


Once the Company is able to review and process the historic data on these new areas it will be in a position to start prioritising the numerous prospects available and at the same time prepare next stage exploration programs to move them up the knowledge curve. Below is a brief summary of the main known prospects that have had more advanced exploration carried out on them to date:


Sunchaser

Located 5km west north west of the Whundo copper mine this prospect consists of two separate EM conductors which may be consistent with the presence of massive sulphides. The conductors are approximately 75m below surface and each has an estimated strike length greater than 100m. Gossans have been identified on the surface in the immediate area of the conductors.


In 2007, Fox Resources Limited intersected a 5.4m zone of massive sulphide mineralisation from 28.4m down hole depth with assays returning 6.1m @ 3.1% zinc (and 1.1m @ 5.2% zinc). (source: Fox Resources announcement dated 1 June 2007)


Conquest

Located 4km west of the Whundo copper mine, Conquest consists of two EM conductors which may be consistent with the presence of massive sulphides. Copper-zinc-lead occurrences have been located on surface in the immediate vicinity of the modelled conductors. Previously drilled by Fox Resources in 2007 drilling intersected 25m @ 0.52% copper, from 144m depth down hole. (source: East Coast Minerals announcement 30 January 2009)


Carver

Based on the work of previous project operators, the Company believes the Carver anomaly is located within an extensional zone of deformation produced by the intersection of the two major lineations within the Central Pilbara Block. This area was a major conduit for mineralised fluids, identical to the structural setting proposed for the intrusion of the Radio Hill Layered Complex to the north west.


The geological nature of this prospect suggests the potential for the identification of Copper, Nickel & Cobalt mineralisation.


Munni Munni East

Munni Munni East is situated about 5km south west of the Elizabeth Hill silver mine, on the east side of the north-trending Munni Munni fault. The prospect is highly prospective for hosting precious metals (PGE/gold) and/or base metals and is associated with the overall mineralisation of the intrusion where the PGE mineralisation is hosted by the Websterite Zone and is associated with an interval of copper-nickel sulphide accumulation. The PGE layer has been defined over a strike length of more than 7.5 km (in 1990) and to a depth of 600 m and remained open along strike and down dip.



Exploration Plans

Following completion of the Transaction, Alien Metal's plans to systematically explore ELA 47/4422 in conjunction with the planned upcoming trenching/costeaning program at the Elizabeth Hill silver mine. This is expected to cover the minimum work programme under the Licence. Future programs include:

- 1200m of trenching/costeaning

- Full database review of all the new historical information acquired as part of the acquisition

- Full suite assay of nearly 600 soil samples taken across the tenement to the east and north of the Elizabeth Hill Silver Project (M47/342) historically but never analysed

- Prioritising of the numerous know and potentially new prospects generated from the database review

- Exploration program design on priority prospects based on individual requirements


Transaction Terms

The key terms of the Transaction are as follows and are payable on announcement:

(a) ~A$40,000 cash; and

(b) The issue of 37,357,190 ordinary shares in the Company at a deemed issue price of 0.55p per Share.



Accordingly, the Company will be issuing 37,357,190 Common Shares ("New Ordinary Shares") as consideration for the Transaction. The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue and application has been made to the London Stock Exchange for 37,357,190 New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to become effective at 08.00 on or around 7 October 2020.

Following the issue of the New Ordinary Shares, the Company will have 3,058,479,579 ordinary shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 3,058,479,579 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.


For further information please visit the Company's website at www.alienmetals.uk, or contact:

 

Alien Metals builds its silver position around Elizabeth Hill, adding to the huge upside that’s already in place
Alien Metals has a diverse portfolio of assets in Australia and Mexico


Shares in Alien Metals Ltd (LON:UFO) jumped by more than 6% in morning trade after the company announced that had added more than 100 square kilometres of ground to its already highly prospective Elizabeth Hill silver project in Western Australia.

The company completed its acquisition of Elizabeth Hill on 25 September, and has moved swiftly to consolidate its landholding in an area known to be highly prospective for several different metals.

The new ground is thought to contain as much as three million ounces of unmined silver relatively near to the surface, with further potential at depth.

It’s also highly prospective for copper and zinc, and contains structures that are linked to the two million ounce Munni Munni platinum and palladium project across the tenement line.

As such, it’s a pretty good addition to an already highly attractive portfolio and represents the kind of sure-footed deal-making Alien has been able to pull off ever since the new management took over last year.

It’s no coincidence either that as the prospectivity of the portfolio has improved - with favoured metals like silver and iron ore playing a prominent role – the company’s market capitalisation has also jumped.

Investors warmed to the can-do attitude of Alien as soon as the first of the new deals began coming, but it wasn’t until the silver price really took off in the early summer of this year that it really became clear how much value there might be inside the company.

The shares have gone up by almost seven times since the early part of July, even as the silver price has jumped somewhat more moderately, from around US$12.00 per ounce in March to the current price of just under US$23.00.

Amazing what a bit of momentum can do.

But the market isn’t just trading on sentiment alone. There are real hard numbers to digest too. At Elizabeth Hill there’s already a track record of historic production, with grades running at almost 2,200 grams per tonne. Given that silver can be economic at as low as 300 grams per tonne in certain circumstances, there’s clearly a huge amount of room for manoeuvre and margin here.

What’s more, back-of-the-envelope calculations value the silver in the ground at the new acquisition at around US$100mln, and although such calculations don’t have the value of a full discounted model behind them, it’s not hard to see why the market has been getting behind the company and has now pushed the valuation up towards £20mln.

What’s more, there’s huge exploration upside on the new ground to be had as well, in the copper and zinc on at least two other areas of known mineralisation.

All of which would be enough to build a company around on its own. But Alien isn’t just about Elizabeth Hill. It’s also got a sizeable silver portfolio in Mexico, on which much progress has been made of late, as well as the Hancock and Brockman iron ore projects, which are also in Australia.

So, hardy surprising to see the company on the move, and don’t be surprised if there’s plenty more share price action to come.

 

9th October 2020


Alien Metals Ltd

("Alien Metals" or "the Company")


Link to full announcement including figures:

http://www.rns-pdf.londonstockexchange.com/rns/5615B_1-2020-10-8.pdf


Successful completion of mapping and sampling programs at Hamersley Iron Ore Projects


Alien Metals Ltd (LSE AIM:UFO) ("Alien Metals" or "the Company"), a minerals exploration and development company, is pleased to advise that further to the RNS dated 20th September 2020, the Company's technical team has successfully completed the follow-up detailed geological mapping and sampling programme at the Company's Hamersley Iron Ore Projects.


Highlights:

- Detailed geological mapping and sampling completed over four of the five priority prospects targeted as part of the site visit

o Field observations indicate that the BHP 19 and BHP 20 prospects may be part of same larger system

o Additional prospective iron ore units mapped at the Brockman Iron project

- Programme has been successful in validating previously announced Maiden Exploration Targets across both projects

- 95 samples were taken across the projects, with assay results expected late October 2020

- Final results from sample assays and detailed mapping to assist with preparation of maiden drilling campaign


Chief Executive Officer, Bill Brodie Good said: "The findings from the recently completed field programme are extremely pleasing and further validate the Company's exploration targets. The field work has expanded upon the previous site visit, with the validation of recent research and the potential increase in projected DSO mineralisation within both tenements. It should be noted that the field team advised how busy both areas were in terms of neighbouring companies working in the region which further encourages us to push on with both projects.


"The Company's technical team is compiling and finalising the geological mapping across the Hamersley projects which will give us valuable information ahead of maiden drilling programmes. With over 90 samples collected from only 4 prospects in a few days we are very encouraged and look forward to some excellent analytical results to complement the visible interpretations made by the team. We are already considering the follow up program to cover the 5th target not reached yet which in itself still has great potential."


Figure 1: Location of the Brockman and Hancock Ranges Iron Ore projects within the prolific iron ore producing region of the Pilbara


The two projects are within the Hamersley Province of Western Australia, known as one of the premier iron ore producing regions of the world. The Brockman Project (E47/3953) is located in the west Hamersley Province, 100 kilometres ("km") northwest of the Rio Tinto iron ore mining town of Tom Price, and 90km west of the Tom Price to Dampier mine railway. The Hancock Ranges Project (E47/3954) is located in the east Hamersley Province, 15km north of the BHP iron ore mining town of Newman, and 20km west of the Newman to Port Hedland mine railway.


2 of the priority prospects in the Brockman Project were covered by detailed traverses across and along strike of the prospects with over 50 samples taken and some more detailed mapping of the main units completed. Initial interpretations are excellent with indications of the presence of a larger amount of the mineralised Brockman Iron Formation than originally thought.


Figure 2: Massive banded iron formation (BIF) located at the Brockman Iron project, October 2020


The 2 main prospects in the Hancock Project were covered as well with some helicopter support to transport the team directly into areas of the Kalgan prospect to maximise field time against travel time and over 40 further samples were taken with more detailed and positive mapping carried out.



Figure 3: Helicopter support for access to Kalgan Prospect, Hancock Prospect, October 2020


All samples generated have been despatched to Intertek Genalysis at Maddington, WA, and analysed for their Basic Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis used in the 2019 due diligence site visit and it will maintain consistency and comparability between these analyses

 

Alien Metals Limited NPV (UFO)
Sell: 0.83pBuy:0.87p0.04 (+5.00%)