TIDMUFO
RNS Number : 0894Y
Alien Metals Limited
02 May 2023
Trading Symbols
AIM: UFO
FWB: I3A1
02 May 2023
Alien Metals Ltd
("Alien" or "the Company")
Resource definition drilling completed at Hancock Project -
Sirius Extension
Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration
and development company, is pleased to announce that its wholly
owned subsidiary Iron Ore Company of Australia Pty Ltd (IOCA) has
completed its latest resource definition drilling program at it's
flagship Hancock Iron Ore Project ("Hancock"), situated in the
prolific iron ore producing region of the Pilbara, Western
Australia
Infill diamond core drilling has been completed at the Company's
high grade Sirius Deposit. The Sirius Deposit (Sirius) is a key
element of IOCA's production plans. Of the Companys 4.2mt Mining
Inventory (see announcement 26 April 2023), Sirius accounts for
2.3mt.
Highlights
-- Drilling program consisted of 13 Diamond Coreholes for a total of 1048.9m.
-- Excellent high grade results returned from the handheld
portable XRF (pXRF) readings recorded across all holes.
-- Core is scheduled to be taken to the Laboratory imminently
and the Company will update the market on those assay results as
they become available.
-- Drilling supports further confidence in the Hancock Project Ore Resources and Reserves
-- Given the high conversion rates of Ridges C and E (associated
tenement targets) it is expected that Sirius will be upgraded to an
Ore Reserve, after the requisite Mineral Resource Estimates and
mining studies are completed.
Rod McIllree, Executive Director, commented:
"Completion of this phase of drilling is positive step in the
Companys transition from explorer to developer and operator. Given
the high conversion rate we have seen on Ridges C and E, we are
confident of a further upgrade to the Ore Reserves once assay
results have been received and our and external geological experts
update the model."
"In the very near term, we are looking forward to updating the
market on the significant progress we have made in relation to the
Hancock Project. We are currently in the process of finalising
preferred tenders for the project capital and operational works,
which secures cost certainties and will allow us to finalise and
update the feasibility and financial model and metrics for the
project."
Figure 1: Location of Hancock Iron Ore Project, Western
Australia
This drilling program executed 13 diamond core holes with a
combined program of 1048.9m in total. Core recovery across the
program has been excellent and the geological information has
improved both geological and structural knowledge of the high grade
ore zones. This, is now in addition to the 21 holes and 2082.5m
previously drilled at Sirius . All holes have been logged for both
geology and rock structure. Two of the holes were designed by
consultant geotechnical geologists and drilled to provide
geotechnical information that will aid in the optimisation and
refinement of the currently designed open pit at the Sirius
Extension.
Figure 2: Location of Sirius Extension
Throughout drilling, the team collected core pXRF readings to
guide the drilling program and provide preliminary data (see in
Figure 7). These pXRF measurements support the anticipated high
grade iron ore as predicted by the current Mineral Resource Model.
The Company is confident that Inferred Resources within Sirius will
be upgraded to Indicated category after Labatory results are
received, and the requisite modelling and QAQC procedures
completed.
Table 1: Diamond drilling infill summary, Hancock Iron Ore
Project, May 2023
Hole number Easting (GDA94) Northing (GDA94) Dip Azi Depth
23IHD001 779369 7429840 -50 190 63.8
---------------- ----------------- ---- ---- ------
23IHD002 779398 7429790 -50 10 93.8
---------------- ----------------- ---- ---- ------
23IHD003 779461 7429859 -45 190 83
---------------- ----------------- ---- ---- ------
23IHD004 779494 7429812 -50 190 59.1
---------------- ----------------- ---- ---- ------
23IHD005 779507 7429855 -53 190 118.9
---------------- ----------------- ---- ---- ------
23IHD006 779561 7429819 -43 170 89.80
---------------- ----------------- ---- ---- ------
23IHD007 779583 7429856 -50 190 142.7
---------------- ----------------- ---- ---- ------
23IHD008 779525 7429800 -60 30 110
---------------- ----------------- ---- ---- ------
23IHD009 779660 7429775 -50 190 61.6
---------------- ----------------- ---- ---- ------
23IHD010 779707 7429738 -40 30 70
------------- ---------------- ----------------- ---- ---- ------
23IHD011 779734 7429754 -50 190 55
---------------- ----------------- ---- ---- ------
23IHD012 779731 7429758 -50 10 40
---------------- ----------------- ---- ---- ------
23IHD013 779660 7429775 -60 10 61.2
---------------- ----------------- ---- ---- ------
Figure 3: Location of infill diamond drilling, Hancock Iron Ore
Project, May 2023
Now that drilling has been completed, the team will begin
processing the core before dispatching the samples to a laboratory
in Perth for analysis.
Figure 5: High grade pXRF results on core from hole 23IHD001 and
23IHD004, Hancock Iron Ore Project, May 2023. The above hole
23IHD001 shows 12.3m of interpreted high grade core logged with
pXRF up to 67.3%
Figure 6: Core logging at Sirius drill site, Hancock Iron Ore
Project, May 2023
High grade pXRF results were identified across the drilling
campaign. Evidence as shown in figure 7 from hole 23IHD007, located
in the northern section of the resource and drilled southward
indicate the hole has intercepted high grade iron ore.
Figure 7: pXRF results on core from hole 23IHD007, Hancock Iron
Ore Project, May 2023
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Notes to Editors:
Alien Metals Ltd is a mining exploration and development Company
listed on the AIM market of the London Stock Exchange (LSE: UFO).
The Company's focus is on delivering a profitable, long life direct
shipping iron ore operation based out of the Pilbara in Western
Australia. In 2019, the Company acquired 51% of the Brockman and
Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects
and in December 2022 moved to 90% legal and beneficial ownership.
The Company also acquired 100% of the Vivash Gorge Iron Ore project
in the west Pilbara in July 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project,
which consists of the Elizabeth Hill Historic Mining Lease and the
115km(2) exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint
venture interest in the Munni Munni Platinum Group Metals and Gold
Project in the West Pilbara, Western Australia, one of Australia's
major underexplored PGE and base metals projects. Munni Munni holds
a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium.
The Company also holds silver, copper and base metal projects in
various locations around the world however is currently looking at
the best way to divest these for the benefit of shareholders.
Competent Person Statement
The information in this announcement that relates to Exploration
Results, is based on information compiled by Mr. Bradley Toms who
is the Exploration Manager and a full time employee of Alien Metals
Ltd. Mr. Toms is a Member of The Australian Institute of
Geoscientists and has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity that he is undertaking, to qualify as Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr. Toms consents to the inclusion in the document of
the information in the form and context in which it appears. Mr
Toms has declared that he holds Performance Rights in the
Company.
Glossary
DSO - Direct Shipping Ore
Fe - Iron
FID - Financial Investment Decision
Mining Proposal - A document submitted to the local state
authority for approval by the Department of Mines, Industry
Regulation and Safety (DMIRS), that is required before any mining
operations can commence.
Mineral Resource - a concentration or occurrence of solid or
liquid material of economic interest in or on the Earth's crust in
such form, grade (or quality), and quantity that there are
reasonable prospects for eventual economic extraction. The
location, quantity, grade (or quality), continuity and other
geological characteristics of a Mineral Resource are known,
estimated or interpreted from specific geological evidence and
knowledge, including sampling. Mineral Resources are sub-divided,
in order of increasing geological confidence, into Inferred,
Indicated and Measured categories.
Mineral resource classification - is the classification of
mineral resources based on an increasing level of geological
knowledge and confidence.
Mining Schedule - the sequencing of operations and the
assignment of equipment and people, to ensure that the intended
sequencing and production targets are realized
Mt - Million Tonnes
Ore Reserves - the parts of a Mineral Resource that can, at
present, be economically mined
pXRF - handheld portable XRF machine. XRF (X-ray fluorescence)
is a non-destructive analytical technique used to determine the
elemental composition of materials. XRF analyzers determine the
chemistry of a sample by measuring the fluorescent (or secondary)
X-ray emitted from a sample when it is excited by a primary X-ray
source.
Reverse Circulation Drilling - Often referred to as RC drilling,
is a method of drilling which uses dual wall drill rods that
consist of an outer drill rod with an inner tube. These hollow
inner tubes allow the drill cuttings to be transported back to the
surface in a continuous, steady flow. Drill results using this
method with adequate QA/QC can be used in Mineral Resource
Calculations
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLMZGGKNZLGFZG
(END) Dow Jones Newswires
May 02, 2023 03:20 ET (07:20 GMT)
Alien Metals (LSE:UFO)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Alien Metals (LSE:UFO)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
