Alien Metals Ltd (LSE AIM: UFO), a global mineral exploration and development company, is pleased to update the market on its high-grade silver and copper-gold projects. Zacatecas, Mexico.
Alien has obtained all the necessary authorizations to start drilling on its Los
Campos and San Celso and Donovan 2 silver projects Copper-Gold Project in Mexico
Drilling at the San Celso and Los Campos silver projects will target mineralized vein systems previously mined for their high-grade silver, where grades greater than 1,000 g/t silver have been reported historically
Drilling at Donovan 2 Cu-Au project will target a potentially significant copper zone that has been associated with a previously reported surface anomaly of 3.34% Cu
Alien’s management team has had a strong relationship with the local community to secure the social license to operate and plans to begin drilling as soon as the geological team is mobilized and a pad is secured.
Bill BrodieGoodCEO and CTO of Alien Metalscommented: “We are extremely pleased to have all legal and local permits now in place for our three Mexico projects. The local team worked tirelessly in very difficult conditions to get here. Going forward, we are very pleased to begin drilling programs as soon as possible. I hope to be there to witness the first drill hole and work with the local team to support a successful program.
“By combining the three programs into one larger program, we will reduce overall costs and complete the program faster. The strong market momentum for silver and copper, coupled with the geological potential of these projects, provides Alien shareholders with very significant leverage for any drilling success, so we look forward to spinning rods and generating results.
Alien has obtained all necessary statutory and local permits to be able to legally begin drilling on its Donovan 2, Los Campos and San Celso permit. The San Celso and Los Campos both projects contain historic, ultra-high-grade underground silver mines dating back more than a century. Both exhibit the classic high-grade, narrow-vein epithermal mineralization associated with regional metallogenic belt mineralized systems that Zacatecas overlaps. A detailed grid drill program has been planned for both projects to enable future resource calculations, while these initial drill programs will be as originally planned based on initial spaced holes in the grids. more detailed to identify the initial thickness, grade and continuation of mineralization. This method means that the Company can cost-effectively test both projects in a first phase, to facilitate planning and targeting of the next phase according to the results, rather than testing only one of the two very promising projects in the departure. The objective of Donovan 2 is to locate the deep source of high-grade copper surface samples (up to 3.34% Cu) taken from the Los Alamos Good.
The Company feels that this has not been sufficiently tested to date and looks forward to being able to fully test this lens. Alien has maintained a strong relationship with the local community around these projects during the pandemic and looks forward to now being able to move forward with this important next stage of exploration which it believes is crucial for the further development of these projects, as maintaining the social license to operate is essential to Alien’s approach to mineral exploration. Alien plans to start drilling imminently with the signing of a drilling contract with a local but highly experienced drilling company, providing a very compact, low impact crawler drilling rig while its team in the country, led by Jose Luis, is preparing to start the program as soon as possible.
The Company may also provide an update to the market regarding the Master Binding Agreement (the “Agreement”) with the listed ASX Platinum Resources Limited (ACN 119 007 939) (ASX: PGM) (“Platina”), to conditionally acquire Platina’s 30% joint venture interest in the Munni Munni Platinum Group Metals and gold project in the Western Pilbara, Western Australia (‘Project Munni Munni’). According to November 24, 2021 and January 21, 2022 announcements due to further delays indicated by the authorities in Australia and by mutual agreement of both parties, an extension of the settlement-delivery date to complete the fulfillment (or waiver) of the conditions precedent to the Agreement has been made for March 21, 2022.
The Company also informs that due to the same issue, it had to extend the settlement date of the main binding agreements with listed AIM and ASX Artemis Resources Limited (AIM/ASX: ARV) (“ARV”) to acquire its 70% interest in the joint venture Munni Munni Project according to the announcement of December 22, 2021. This extension is until March 28, 2022.
Tel: +44 (0)203 811 2144
Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange (LSE: UFO). The company is focused on precious and base metals, with its operations located in proven mining jurisdictions and it has embarked on an acquisition strategy led by a high quality geological team to build a strong portfolio of diversified assets . In 2019, the Company acquired 51% of the high-grade iron ore projects (Direct Shipping Ore) from Brockman and Hancock Ranges and with a conditional agreement to increase its stake to 90% in May 2021 also set up. In 2020, the Company is committed to acquiring 100% of the Elizabeth Hill Money Projectwhich includes the Elizabeth Hill Historic Silver Mine Mining Lease and the 150 km2 exploration concession around the mine. The Company also owns two silver projects, San Celso and Los Camposlocated in the state of Zacatecas, Mexico, from Mexico the largest silver-producing state, which produced more than 190 million ounces of silver in 2018 alone, representing 45% of the country’s total silver production Mexico for that year. The Company also holds a Copper Gold project in the same region, Donovan 2. In November and December 2021the company has entered into two main binding agreements with ASX listed Platinum Resources Ltd. and Artemis Resources Limited to acquire 100% of the joint venture’s current interest in Munni Munni Platinum Group Metals and gold project in the Western Pilbara, Western Australiaone of australia large under-explored PGE and base metal projects. Munni Munni holds a historical deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold, Rhodium. The Company also obtained an exploration permit in Greenland end of 2020, which surrounds the world-class Citronen zinc-lead deposit.