-
21 May 2025 23:11:34
- Source: Sharecast
Trading Symbols
AIM: UFO
FWB: I3A1
21 May 2025
Alien Metals Limited
("Alien" or the "Company")
Hancock Continues to Grow with the Successful Granting of Two New Exploration Leases
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to announce that it has been awarded two new Exploration Leases that border the existing Mining Lease at its flagship Hancock Iron Ore Project in Newman, Western Australia (the "Hancock Project").
Highlights:
· Exploration Leases E47/5157 and E47/5158 have been granted with no Native Title objections.
· The two new Exploration Leases are adjacent to the existing Mining and Exploration Leases at the Hancock Project (refer to Figure 1) and expand the Company's exploration area by more than 50% from 41.0 km2 to 63.0km2.
· Works are proceeding to upgrade our exploration targets, including the imminent mobilisation of a team of geologists to site to further investigate the prospectivity of these two new Exploration Leases via a rock chip sampling and assay programme.
Figure 1: Hancock Project Tenement Summary
Christopher Maiolo, General Manager Project Development, commented:
"The successful grant of two new Exploration Leases adjacent to our flagship Hancock Project represents a strategic expansion of our footprint in the region. Importantly, no Native Title objections were received during the granting process.
"The high prospectivity of these two leases should not be underestimated. Our team has been working on an exploration plan in relation to these two new leases for some time, and we are looking forward to mobilising to site over the coming weeks to commence a rock chip sampling and assay programme across these two new leases which will feed into a new drill programme that should further grow the Hancock Project."
"The Company continues to work collaboratively with BHP Group Limited to finalise an Access Deed that will facilitate the issuance of E47/5159 in the coming period, further consolidating the Company's interests around the highly prospective tenements and enabling further expansion of exploration and development activities across the broader tenement package."
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 Project 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 one of Australia's largest PGM deposits, Munni Munni which hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium) and Gold. The Company has recently entered into a joint venture with Errawarra Resources Limited for the development of the Elizabeth Hill Silver Project, located near Karratha in the Pilbara, which consists of the Elizabeth Hill Mining Lease and explora5on tenements surrounding the historical silver mine which has produced some of Australia's highest-grade silver ore during the late 1990s.
Hancock Iron Ore Project
Table 1: Hancock Iron Ore Project Mineral Resource Table1
|
Classification Category |
Prospect |
Mass (Million Tonnes) |
Average Value |
|||||
|
Fe % |
SiO2 % |
Al2O3 % |
P % |
LOI % |
MnO % |
|||
|
INDICATED |
Sirius Ext. |
2.8 |
59.8 |
3.9 |
4.09 |
0.17 |
5.4 |
0.05 |
|
Ridge C |
0.7 |
60.9 |
4.9 |
3.27 |
0.12 |
3.7 |
0.03 |
|
|
Ridge E |
1.0 |
61.0 |
5.2 |
3.30 |
0.12 |
3.4 |
0.02 |
|
|
Sub Total - Indicated |
4.5 |
60.2 |
4.3 |
3.79 |
0.15 |
4.7 |
0.04 |
|
|
INFERRED |
Sirius Ext. |
3.1 |
59.6 |
4.6 |
3.99 |
0.17 |
5.2 |
0.05 |
|
Ridge C |
0.4 |
60.8 |
4.6 |
3.07 |
0.14 |
4.4 |
0.03 |
|
|
Ridge E |
0.3 |
59.8 |
4.9 |
3.64 |
0.17 |
5.0 |
0.02 |
|
|
Sub Total - Inferred |
3.8 |
59.7 |
4.6 |
3.88 |
0.17 |
5.1 |
0.05 |
|
|
TOTAL |
8.4 |
60.0 |
4.4 |
3.83 |
0.17 |
4.9 |
0.05 |
|
1. Refer to the Company's announcement on 8 February 2024 'Iron Ore Development Study delivers excellent project economics - NPV10 of A$146m with additional exploration potential'.
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