Alien Metals Limited (LSE AIM:UFO), a global minerals exploration and development company, is pleased to update the market on its Mexican projects – San Celso and Donovan 2.
The Company has now received all laboratory analysis results for the recent limited drilling program on San Celso and Donovan 2. 7 holes were drilled for a total of 611 meters, 3 holes at San Celso for 201m and 4 holes at Donovan 2 for 410m. No significant intersections were returned for San Celso. An anomalous section was identified with a 1.87m interval in hole DONDD-A03 on Donovan 2 returning an assay of 0.33% Copper (“Cu”) with minor associated Lead (“Pb”) and Zinc (“Zn”) from a depth of 9.43m to 11.3m. The sample recovery in this section, along with the majority of the intersections of interest, was sub-standard for the industry, with returns of only 15-20% in the key areas. However, this anomaly is encouraging as further copper mineralisation has been identified at Donovan 2.
The Donovan 2 drilling, while not returning any significant mineralised intercepts, did identify a 34m zone of weakly anomalous zinc in hole DONDD-A04; this correlates with a similar zone in hole DON21- 01 drilled in 2021. This could be an indication of weaker mineralisation close to a higher-grade orebody below and the Company is reviewing all data now available on the project to decide whether any future programs are warranted. A schematic geological interpretation in figure 5 below shows the current concept. Of particular note, is that the nearby San Nicolas deposit was discovered at a depth of 200m, so the target zone at Donovan 2 could be deeper than previously tested.
At San Celso, the local stakeholders have recently advised Alien that they will now not allow the Company to drill in the central licence, which is unfortunately the priority target area for future drilling. Subsequently, no further work will be done on the San Celso project until future access can be secured.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: “While we are highly disappointed with the news from San Celso meaning we have not secured access to advance the project as previously planned, we are encouraged by the anomalous results from the Donovan 2 assays, even though they lack any single assays that investors may deem ‘economic’. Geologically, enough indicators are present for us to remain optimistic and they may provide vectors to a potentially larger zone of mineralisation. While we will continue to review the next phase of activity for these projects, the Company will continue to push forward with the Hancock Iron Ore Project and the Munni Munni Complex in Western Australia.”
Hole DONDD-A04 has a zone of elevated zinc from 161-195m with a high value of 468 g/t Zn and an average of 176 g/t Zn in conjunction with elevated values for magnesium and manganese as well which could be indicative of being close to a more economic body close by, either deeper or laterally. A comparable elevated zinc zone in hole DON-01 drilled in 2021 suggests presence of weak mineralisation at this level being sourced from deeper in the profile.
For further information please visit the Company’s website at www.alienmetals.uk, or contact:
Alien Metals Limited
Dan Smith, Non-executive Chairman Email: [email protected]
Bill Brodie Good, CEO Tel: +44 20 3811 2144
Beaumont Cornish Limited (Nomad) James Biddle / Roland Cornish www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope Tel: +44 (0) 20 3657 0050
WH Ireland Ltd (Joint Broker) Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR) Sarah Hollins / James Lingfield [email protected] Tel: +44 (0) 20 3004 9512
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 precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets. In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and with a conditional agreement to increase its interest to 90% in May 2021 also being put in place. The Company also acquired 100% the Vivash Gorge Iron Ore Project from Zenith Minerals in May 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the 115km2 exploration tenement around the mine. The Company also holds two silver projects, San Celso and Los Campos, located in Zacatecas State, Mexico, Mexico’s largest silver producing state, which produced over 190m Oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company also holds a Copper Gold project in the same region, Donovan 2.
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 PGM3: Palladium, Platinum, Gold, Rhodium.
Competent Person’s Statement – Exploration Results
The information in this announcement that relates to Exploration Targets, Exploration Results and Mineral Resources 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.
Original Article: https://www.alienmetals.uk/wp-content/uploads/Final-Drilling-Results-RNS-01082022.pdf
