REG - Alien Metals Limited - Pinderi Hills and Hancock Iron Ore Project Updates

Alien MetalsAnnouncement

20/06/2024 08:00

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RNS Number : 2028T  Alien Metals Limited  20 June 2024

Trading Symbols

AIM: UFO

FWB: I3A1

20 June 2024

Alien Metals Ltd

("Alien" or "the Company")

Pinderi Hills Update - Commencement of Exploration Work

Hancock Iron Ore Project - Update

Alien Metals (AIM: UFO) ("Alien" or "Company"), a company focused on the
exploration and development of the Hancock iron ore Project ("Hancock
Project") and the Pinderi Hills project ("Pinderi Hills" or "Project") in
Western Australia, is pleased to provide an update covering the activities and
exploration works currently being undertaken at the Project.

Highlights

Following the Company's announcement (AIM: 29 April 2024
(https://www.londonstockexchange.com/news-article/UFO/a-4m-farm-out-jv-for-lithium-rights-at-pinderi/16445794)
) detailing the joint venture ("JV") entered into by Alien, via its wholly
owned subsidiary Alien Metals Australia Pty Ltd, with Errawarra Resources Ltd
("Errawarra") in respect of the lithium rights on Pinderi Hills, Errawarra is
undertaking an initial work program as part of its Stage 1 commitment. Whilst
the focus of the exploration work is on lithium, utilising the expertise of
Errawarra, the data gathered from the fieldwork is also expected to provide
important information that will assist in the analysis and drill targeting for
silver, base, and precious metals at Pinderi Hills.

The work program to date has focused on first-pass reconnaissance, mapping and
sampling and comprises the following:

·    Reconnaissance soil (100m x 400m grid), stream sediment, and rock
chip sampling comprising 1,017 samples completed

·    Photogrammetry completed over the NE portion of E47/4422

·    A historical drone survey is being reprocessed to assist in the
targeting of pegmatites

·    Completing surface mapping and sampling of pegmatites

All samples have been dispatched to Australian Laboratory Services Perth
("ALS") for analysis with the full assay results anticipated to be available
by the end of July 2024. After all sample results are received and
interpreted, a follow-up program will be planned and is expected to be
implemented during Q4 2024.

 

Hancock Iron Ore Update

As previously announced (AIM: 30 May 2024
(https://www.londonstockexchange.com/news-article/UFO/independent-review-at-pinderi-hills/16495385)
), the Company is actively progressing with the ongoing review of strategic
funding options with regard to the Hancock Project, including possible funding
by way of joint venture and or debt funding.

In addition, Alien is focusing on:

·    Finalising approvals for the Hancock and Mallina projects to commence
exploration work with a strategy to increase existing resources and reserves
to 20 - 50 Mt. The current resource stands at 8.4Mt @ 60.20% Fe.

·    Continuing to build a positive, ongoing partnership with the
traditional owners, Karlka Nyiyaparli Aboriginal Corporation RNTBC, as the
mining development work progresses.

·    Planning further works on country heritage surveys in H2 2024.

·    Discussions with various parties and field analysis to start
exploration work.

·    Undertaking bulk sample collection for testing to end users e.g.
steel mills.

Engineering and transport logistic disciplines remain well advanced and scoped
for mining, crushing, road haulage, and port loading, with the intent to
further develop them and move towards a tender process.

 

Guy Robertson, Executive Director, commented:

"The Errawarra joint venture exploration work will provide significant data
for Alien as it continues to fast-track plans to develop the high-grade
Elizabeth Hills Silver Mine. As the results are processed, we will be able to
update the market with our plans for the next phase of exploration.

"As negotiations continue with potential funding partners with regards to the
Hancock Project, Alien is working hard on progressing developmental milestones
and expanding the existing iron ore resource significantly in Q4 2024 with
additional exploration at the Mallina Target west of the Hancock Mining
Lease."

For further information, please visit the Company's website at
www.alienmetals.uk (https://www.alienmetals.uk/) or contact:

 

Alien Metals Limited

Guy Roberston

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Robert Collins

Tel: +44 (0) 207 409 3494

 

WH Ireland Ltd (Joint Broker)

Harry Ansell / Katy Mitchell

Tel: +44 (0) 207 220 1666

 

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 its 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.

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