Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced through its wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd the first batch of assay results from its recent resource definition drilling programme at the Company’s 90% owned Hancock Iron Ore Project, Pilbara Region, Western Australia.
Highlights
· 13 diamond core holes drilled during April 2023 for a total of 1049 metres (“m“) at the Company’s Sirius Extension Deposit. This infill campaign increased the total density of the drilling activities to date at the Sirus Extension Deposit allowing the Company to target Resource upgrades from Inferred to Indicated which should then support future Reserve reclassifications
· The initial batch of assay results for the first two (23IHD003 and 23IHD006) holes have been received, with highlights that include:
o from Drill Hole 23IHD003
§ 26.9m @ 60.03% iron (“Fe“) from 13.9m including a high grade intercept of 12m @ 61.2% Fe from 28.8m, and
§ 16.1m @ 59.75% Fe from 46.9m including a high grade intercept of 9.9m @ 61.03% Fe
o from Drill Hole 23IHD006
§ 49.0m @ 59.29% Fe from 14.0m including high grade intercepts of 8m @ 60.70% Fe from 17m, 9.0m @ 61.51% Fe from 36.0m and 12.0m @ 60.58% Fe from 51.0m
· Consistent grades of over 60% Fe with low levels of deleterious elements that meets, and in some places exceeds, the Company’s current resource model
· The high grade, direct ship ore results further reinforces the Company’s confidence in the Hancock Project
· This phase of in-fill drilling will be included in future Mineral Resource Estimates and Mining studies which the Company expects will result in increased Mining Reserves.
Troy Whittaker, Chief Executive Officer commented:
“These initial results from the recent Sirius Extension drilling campaign reinforce the potential of the Hancock Project. These results mirror or exceed that of the Company’s resource model and we look forward to announcing the balance of the results that will support the next phase in the development of this Project in the coming weeks.”