24 February
2025
Alien Metals Limited
("Alien" or the
"Company")
Advancements to Hancock West Tenement
Applications
Alien Metals Limited (AIM: UFO), a minerals
exploration and development company, is pleased to report progress on its highly prospective Hancock West
(Mallina) tenement applications advancing towards grant at the
Hancock flagship high-grade iron ore project in Newman, Western
Australia.
Highlights
·
The Hancock West applications (E47/5157 and
E47/5158) are currently in the Native Title referral
period.
· The
Nyiyaparli People, represented by the Karlka
Nyiyaparli Aboriginal Corporation RNTBC ("KNAC"), have consented to
two of the three applications in the existing Mining
Agreement.
· The
Native Title advertising (objection) period remains open, but
following discussions with KNAC, no objections are
anticipated.
·
E47/5157 and E47/5158 are considered to be prospective for
iron mineralisation with similar host geology to the existing
mineral resources at the Hancock Project. An initial field
reconnaisance mapping exercise, to confirm the propsectivity, will
commence as soon as practicable.
Robert Mosig, Technical Director,
commented:
"This ground is considered integral to the Company's
exploration efforts over the coming year, and it has been pleasing
to see the collaboration between all parties.
We
will continue to work with KNAC to deliver a timely exploration
outcome. Exploration success will have a positive outcome on the
high grade, flagship Hancock iron Ore Project for the benefit of
all parties."
The
High-Grade Hancock Iron Ore Project
The Hancock Iron Ore Project located
17km northwest of Newman, Western Australia, has a mineral resource
of 8.4Mt @ 60% Fe JORC (2012), including an Indicated Resource of
4.5Mt@ 60.2% Fe. It shows an average annualised EBITDA of A$39m, a
pre-tax NPV10 of A$146m and a pre-tax IRR of 133%, and an initial
low development Capital Cost of A$28m1.
Tenement Application Update
The Company currently has 3 tenement
applications (E47/5157, E47/5158 and E47/5159) lodged with the
Department of Energy, Mines, Industry Regulation and Safety
("DEMIRS"). Two of these applications, E47/5157 and E47/5158 are
now in the Native Title advertising period, and KNAC has confirmed
these tenements fall under the existing Mining Agreement (announced
14 December 2023, "Iron Ore
Company of Australia Executes Native Title Project Mining Agreement
for Hancock Project"). No objection regarding the
application and grant of E47/5157 and E47/5158 is anticipated
during the Native Title advertising period, which closes in April
2025.
The outcome of this work with KNAC,
seeks to ensure that the rights of the Nyiyaparli People are
respected and that the licences (E47/5157 and E47/5158) can be
granted without further delay, assuming no objections during the
Native Title advertising period. Once granted, this will result in
the opportunity for exploration for the Company and associated
benefits for the Nyiyaparli People, including cultural heritage and
environmental protection and management measures.
Following the anticipated grant of
E47/5157 and E47/5158, the Company will work with KNAC and the
Department of Energy, Mines, Industry Regulation and Safety
(DEMIRS) to access the ground as quickly as practicable to explore
for high grade, flagship, iron ore on these licences as quickly as
practicable.
Exploration Plans for the Hancock Iron Ore
Project
Based on a review of available
aerial imagery supported by GSWA 250k mapping, there is evidence
supporting the presence of significant strike lengths of Weeli
Wolli Formation BIF and Boolgeeda Iron Formation.
The Company is now planning
for:
·
a detailed mapping programme to be completed by
experienced iron ore geologists over Weeli Wolli Formation BIF
ridges, with a focus on delineating mineralisation boundaries
supported by a technical mapping report; and
·
exploration on E47/5157 and E47/5158 to
investigate is the extent of any iron mineralisation in the
Boolgeeda Iron Formation.
The application for E47/5159 is
currently the subject of negotiations with BHP Group Limited
("BHP") to finalise an access agreement as it overlies their
existing Miscellaneous Licence. This is a normal part of the
licence application process and will be completed as soon as
practicable. Upon agreement with BHP, application E47/5159 will
then be discussed with KNAC to formalise a Heritage Agreement as
part of the normal granting process.
While E47/5159 is considered
prospective for iron mineralisation, the advancement of the project
is not reliant on this single licence.
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 Limited 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).