Alien Metals, dedicated to the exploration and development of the Hancock Iron Ore Project and the Pinderi Hills Project in Western Australia, has provided an update on the current activities at Pinderi Hills. The company, through its subsidiary Alien Metals Australia Pty Ltd, entered a joint venture with Errawarra Resources Ltd for the lithium rights at Pinderi Hills. Errawarra is conducting an initial work programme as part of its Stage 1 commitment, focusing primarily on lithium. This exploration will also gather data beneficial for analysing and targeting silver, base, and precious metals.
The ongoing work includes first-pass reconnaissance, mapping, and sampling. So far, 1017 samples have been collected from reconnaissance soil, stream sediment, and rock chip sampling. Photogrammetry over the NE portion of E47/4422 is complete, and an historical drone survey is being reprocessed to target pegmatites. Surface mapping and sampling of pegmatites are also underway. All samples have been sent to Australian Laboratory Services Perth for analysis, with results expected by the end of July 2024. Following the interpretation of these results, a follow-up programme is anticipated to begin in the fourth quarter of 2024.
Regarding the Hancock Iron Ore Project, Alien Metals is reviewing strategic funding options, including joint ventures and debt funding. The company is also working on obtaining approvals for the Hancock and Mallina projects to start exploration, aiming to increase resources and reserves from the current 8.4 Mt @ 60.20% Fe to between 20 and 50 Mt. Additionally, Alien Metals is fostering its partnership with the traditional owners, Karlka Nyiyaparli Aboriginal Corporation RNTBC, as development progresses. Plans for further heritage surveys in the second half of 2024 are in place, alongside discussions with various parties to initiate exploration work. Bulk sample collection for testing by end-users, such as steel mills, is also being planned. The engineering and transport logistics for mining, crushing, road haulage, and port loading are well advanced, moving towards a tender process.
Guy Robertson, Executive Director, stated that the exploration work through the Errawarra joint venture will yield significant data, aiding Alien’s plans to develop the high-grade Elizabeth Hills Silver Mine. As results are processed, the company will update the market on the next exploration phase. Robertson also highlighted ongoing negotiations with potential funding partners for the Hancock Project, aiming to significantly expand the iron ore resource in the fourth quarter of 2024, with additional exploration at the Mallina Target.
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.
