Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has provided an update on its exploration activities at the Elizabeth Hill project, historically Australia’s highest-grade silver deposit. It along with the Munni Munni PGM prospect lies within the Company’s Pinderi Hills province, a unified significant tenement holding of 180 square kilometres (“km2“) south of Karratha, a major Western Australian mining and industrial hub.
After months of historic data compilation, site visits and geological review of the consolidated historical exploration and drill data within the Pinderi Hills area, Alien is pleased to report that the results should enable the Company to further showcase and develop the potential of the Pinderi Hills precinct for base metals, platinum, palladium and silver.
Highlights:
· Pinderi Hills consists of significant known silver (“Ag“) at Elizabeth Hill and Platinum Group Elements (“PGE“) deposit at Munni Munni.
· In addition, various other historical exploration targets for nickel (“Ni”), copper (“Cu“) and other base metals have been identified.
· Due to low historical base metals prices, previous exploration activities have focused on precious metals, PGE’s, gold (“Au“) and Ag.
· A detailed review of historical data on the Elizabeth Hill mining lease, which was focused on native silver metal discoveries, supports a significant opportunity for high-grade polymetallic mineralisation. The key base metals (see AIM: 20 February 2023 for significant Silver results) results of this review, include:
o 1 metre (“m“) @ 3.98% Cu, 12 troy ounces (“ozt“) Ag, 0.95% Ni from 35m in EC002
o 1m @ 3.5% Cu, 125ozt Ag, 0.58% Ni from 2m in UGD063
o 5.2m @ 2.18% Ni, 166ozt Ag, 0.76% Cu from 3m in UGD069
o 1.05m @ 1.90% Ni, 114ozt Ag, 1.25% Cu, from 5.05m in UGD072
· Some of these results extend outside of the known mineralisation zones and support potential extensions to the silver resource envelope.
· The Company intends to undertake focused exploration activities on additional base metal targets and has commissioned detailed aerial reconnaissance over the Pinderi Hills area and updates will be provided in due course.
Troy Whittaker, Alien Metals Chief Executive Officer commented:
“Whilst our priority remains the development of the Hancock Iron Ore Project, it is pleasing to see the detailed work by the geology team to continue focusing on valuable nickel, copper and other base metals targets that have been overlooked by previous explorers. The Elizabeth Hill Silver Mine is part of the greater opportunity the Company must make in identifying significant new discoveries in the unique multi-commodity, mineral-rich province of the Pinderi Hills. We are excited by the variety of potential exploration targets and we look forward to providing further updates for this area as these works progress.”
Further Information
The Pinderi Hills Precinct
The Elizabeth Hill Silver Mine and deposit is a valuable part of the Pinderi Hills project area. The Company is the first single entity to own and consolidate the Munni Munni, Ni-PGM project, Elizabeth Hill project and the surrounding area (Pinderi Hills) into a single unified coherent tenement holding.
The Pinderi Hills precinct consists of 180.2 km2 of adjoining tenements that the Company has in the region.
The Company’s geologists and consultants have spent considerable time and effort reviewing historical internal and external data, along with reports to allow the Company to interpret the entire area as a cohesive geological package.
The Pinderi Hills area incorporates:
1. Elizabeth Hill: The known, major silver deposit at the Elizabeth Hill Mine Site, which has a non-compliant JORC 2004 Resource estimate of 4.05 million ounces (“Moz“) Ag at greater than 200 g/t Ag, and produced 1.2 Moz silver at 2,195 grams per tonne (“g/t“) Ag (70.24 Oz/t Ag) from 1999-2000.
2. Munni Munni: The Munni Munni PGE deposit historic JORC 2004 Resource estimate implied 24 million tonnes (“Mt“) @ 2.9g/t PGE and gold for 2.2Moz PGE and gold consisting of 1.14Moz Pd, 0.83Moz Pt, 152Koz Au and 76Koz rhodium.
3. Several other deposits that are prospective for Platinum (“Pt“), Palladium (“Pd“), Rhodium (“Rh“), Ag, Ni, Cu, Pb, Zn, all of which are metals that are required to support the push into renewable energy across the world.
The Pinderi Hills project has several distinct geological targets, with the geological and structural being modelled and future exploration is being evaluated and prioritised.
Elizabeth Hill Project
Elizabeth Hill was an operating underground silver mine between 1998 and 2000. During this time, it produced 1.17 Moz silver from exceptionally high-grade silver ores. It is located just 40 kilometres (“km“) from the mining hub of Karratha in Western Australia, roughly 1,500km north of Perth and serviced by sealed roads and multiple commercial flights daily.
The silver orebody is located predominantly in pyroxenite in the basal ultramafic zone of the Munni Munni Ultramafic Complex. The mineralised zone typically has a width of 15-20m, with the high-grade core averaging about 3m.
After extensive geological work and reviewing the existing data, it can be concluded that Elizabeth Hill has significant potential to support polymetallic deposits. The geological review included a review of primary assay data and validation of all drill holes and assays whilst implementing a secure and industry-standard software platform to host the Company’s geological datasets.
The highlights identified were:
· Copper
o 0.4m @ 4.7% Cu, 26ozt Ag, 1.55% Ni from 1.6m in UGD041
o 0.4m @ 4% Cu, 799ozt Ag, 0.8% Ni from 3m in UGD069
o 1m @ 3.98% Cu, 12ozt Ag, 0.95% Ni from 35m in EC002
o 1m @ 3.5% Cu, 125ozt Ag, 1.06% Zn, 0.58% Ni, 0.68% Pb from 2m in UGD063
· Nickel
o 0.9m @ 2.95% Ni, 65ozt Ag, 0.15% Cu from 5.1m in UGD073
o 5.2m @ 2.18% Ni, 166ozt Ag, 0.76% Cu, 0.28% Zn from 3m in UGD069
o 1.05m @ 1.90% Ni, 114ozt Ag, 1.25% Cu, from 5.05m in UGD072
· Lead
o 0.4m @ 9.7% Pb from 1.2m in UGC82406
o 1m @ 4.8% Pb from 11.9m in UGD022
o 1m @ 3.8% Pb from 91m in EC028
o 1.1m @ 3.1% Pb from 8.6m in UGD060
o 1.2m @ 2.05% Pb and 723ozt Ag from 0m in UGD072
· Zinc
o 1m @ 2.85% Zn, 13ozt Ag, 0.16%Pb from 0m in UGC82057
o 0.95m @ 2.70%, Zn, 0.48% Pb from 4.9m in UGD055
o 1.1m @ 2.65% Zn, 5ozt Ag from 9m in UGD042
o 1m @ 1.06% Zn, 326ozt Ag, 0.5% Pb from 2m in UGD063
A historical Sub-Audio Magnetics (“SAM“) survey was conducted over licence of the Elizabeth Hill mining lease. This type of survey is useful for detecting faults and fractures in the local geological environment.
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 delivering a profitable, long life direct shipping iron ore operation based out of the Pilbara in Western Australia. In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved to 90% legal and beneficial ownership. The Company also acquired 100% of the Vivash Gorge Iron Ore project in the west Pilbara in July 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Mining Lease and the 115km2 exploration tenement around the mine.
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 4E PGM: Palladium, Platinum, Gold, Rhodium.
In May 2023, the Company acquired 100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement. The new tenement adjoins the Company’s existing Hancock tenement, giving the entire Hancock project direct access to the Great Northern Highway.
The Company also holds silver, copper and base metal projects in various locations around the world however is currently looking at the best way to divest these for the benefit of shareholders.
