LONDON (Alliance News) – Alien Metals Ltd on Monday said surface mapping at the Donovan 2 concession supports mineralisation on multiple targets.
The volcanogenic massive sulphide mineralisation at Donovan 2, in Mexico, is open along strike, Alien said, with the mapping of a low-lying outcrop suggesting a further alteration.
Sample assays have shown grades of up to 3.3% copper and 0.3% zinc, and ongoing mapping of historic mining works have shown copper mineralisation, Alien said.
“The district surrounding Donovan 2 is staked by Mexican and Canadian base and precious metal producers,” noted Chief Executive Peter Taylor.
“We are delighted to be rubbing shoulders with these mining companies and look forward to updating the market with the gravity survey, further assays and drilling results.”
Shares more than doubled on Monday morning, quoted at 0.40 pence per share, having set a new 52-week high of 0.44p in earlier trade.
By George Collard; [email protected]
Original Article: https://www.morningstar.co.uk/uk/news/AN_1556530755551249400/alien-metals-shares-surge-as-it-finds-mineralisation-in-mexico.aspx
