26 November
2024
Alien Metals Ltd
("Alien" or the
"Company")
Western Australian Government Awards
Exploration Incentive Scheme Grant for Pinderi
Hills
Alien Metals Ltd (AIM: UFO), a minerals
exploration and development company, is pleased to report that it has been successfully awarded a grant of up to
A$120,000 by the Western Australian State Government to co-fund
three proposed deep diamond core holes at the Pinderi Hills
Project, 50km south of Karratha, Western
Australia.
Highlights:
· The
grant, up to A$120,000, is to co-fund exploration diamond core
drilling at Pinderi Hills
· The
applications are assessed through a competitive process that
rewards innovative and scientifically meritorious drilling
programmes
· The
drilling proposed is targeting the basal units of the Munni Munni
ultramafic intrusion in areas with no previous exploration drilling
under alluvial cover
· The
basal units are considered highly prospective for Cu, Ni, PGMs and
Ag
Robert Mosig, Technical Director,
commented:
"We have always considered the Munni Munni intrusion to be
highly prospective for precious and base metals, and so it is
pleasing to see that the Company's application has been judged
against its peers and was successful.
"The benefits of drilling these holes will be of long-term use
to the Company as they will add immense geological knowledge to the
lower, highly prospective, ultramafic units. This proposed
drilling, in under-explored areas which are also under alluvial
cover, will enable the Company to accelerate its geological
understanding and exploration models in its vision of finding new,
significant, precious metal mineralisation at Pinderi
Hills."
About Pinderi Hills1
The Pinderi Hills Project is an area
of exploration and mining licenses covering ~180km2 of
highly prospective terrain in the West Pilbara region of Western
Australia. The ground is highly prospective for Ag and Cu-Ni-PGM
sulphide deposits in mafic/ultramafic complexes. The West Pilbara
region has seen several significant discoveries in recent times
with the giant lithium discovery at Andover, partly owned by the
Chilean company, Sociedad Química y Minera de Chile SA, (NYSE: SQM)
("SQM"), and the De Grey Mining Ltd +10Moz Hemi Gold Project being
the standout discoveries.
The project area also contains the
high-grade Elizabeth Hill Silver Mine which was Australia's
highest-grade silver mine at the time it was mined between 1999 to
2000. The Company also has a lithium joint venture with ASX-listed
lithium specialists, Errawarra Resources Limited, which has
identified a 6km2 LiO2 footprint within the
project area.
The
EIS programme
The Co-funded Exploration Drilling
Programme is part of the Western Australian State Government-funded
Exploration Incentive Scheme ("EIS"). It is a competitive programme
that awards grants to co-fund innovative exploration drilling
projects within Western Australia. The Company was successful in
its application and is eligible for up to A$120,000 to cover up to
half of the drilling costs of three deep diamond core drill
holes.
For further information on the EIS,
please refer to
www.dmp.wa.gov.au/Petroleum/Exploration-Incentive-Scheme-2251.aspx
Drilling at Pinderi Hills
The proposed diamond core drilling
is up to three holes targeting the more prospective basal units of
the Munni Munni intrusion in areas under transported cover with no
soil geochemistry nor electromagnetic testing over these lower
portions (Figure 1). The
eastern side of the Munni Munni intrusion basal units are anomalous
for Ag, PGM, Cu and Ni, along the line of Judy's Reef. These
planned holes will test the geology and structural interpretation
and the modelled extension of Judy's reef extension under areas of
transported cover where there has been no previous
exploration.
For further
information, please visit the Company's
website at www.alienmetals.uk or contact:
Strand Hanson
(Financial and Nominated Adviser)
James Harris / James Dance / Robert
Collins
Tel: +44 (0) 207 409 3494
Zeus Capital Limited
(Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 203 829 5000
CMC Markets (Joint
Broker)
Douglas Crippen
Tel: +44 (0) 203 003 8632
Yellow Jersey
(Financial PR)
Charles Goodwin / Shivantha Thambirajah / Zara
McKinlay
Tel: +44 (0) 203 004 9512
Notes to
Editors
Alien Metals Ltd is a mining exploration and
development company listed on the AIM market of the London Stock
Exchange (AIM: UFO). The Company's focus is on delivering a
profitable direct shipping iron ore operation from it 90% Hancock
iron ore project in the central Pilbara region of Western
Australia. The Hancock tenements currently
contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe
and offers significant exploration upside which is targeted to
deliver a mining operation of 2Mtpa for 10 years.
These Hancock Project tenements have direct access to the Great Northern Highway, which
provides an essential export route to export facilities at Port
Hedland, from where more than 500Mt of iron ore is exported
annually (30% of global production). The Company also has an
interest in two iron ore exploration projects Brockman and Vivash,
located in the West Pilbara.
The Company owns the Elizabeth Hill
Silver Project, located near Karratha in the Pilbara, which
consists of the Elizabeth Hill Mining Lease and exploration
tenements surrounding the historical silver mine which has produced
some of Australia's highest-grade silver ore during the late
1990's. The Company also owns one of Australia's largest PGM
deposits, Munni Munni which hosts a deposit containing a historic
resource of 2.2Moz PGM (Palladium, Platinum, Gold, and Rhodium).
Competent
Person's Statement
The information in this announcement that
relates to Exploration Results, is based on information compiled by
Mr. Bradley Toms who is the Exploration Manager and a full time
employee of Alien Metals Ltd. Mr. Toms is a Member of The
Australian Institute of Geoscientists and has sufficient experience
which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity that he is
undertaking, to qualify as Competent Person as defined in the 2012
Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves". Mr. Toms consents to
the inclusion in the document of the information in the form and
context in which it appears. Mr Toms has declared that he holds
Performance Rights in the Company.