Alien Metals (UFO ) will recommence its reverse circulation (RC) drilling programme at the Hancock Iron Ore project which forms part of its Hamersley Iron Ore Project, “in the coming days.”
The programme totals ~1,400 metres and is aimed to increase geological confidence in the existing JORC compliant Inferred Mineral Resource Estimate (MRE) of 10.4Mt @ 60.4% Fe.
“Following on from our initial maiden JORC resource and positive scoping study work, we are delighted to be going back out into the field at Hancock to undertake this important infill drilling at the Western Ridges orebodies,” said Bill Brodie Good, CEO and Technical Director.
Commenting, he added: “Additionally, we will also undertake new exploration drilling to commence our expansion of the resource potential of the project. Having Three Rivers Drilling back to do the RC drilling is very positive, and we are excited to carry out diamond core drilling as well, both from the resource update and mining study development perspective.”
Alien said it is planning to potentially upgrade a portion of the Inferred resource to the Indicated category at the Ridge C and E deposits.The programme is also designed to also test extension mineralisation on the existing ridges as well as untested ridges to the south.
In addition to the RC drilling, a diamond drill rig is planned to drill up to 650m in 7 holes, to further support MRE confidence levels, as well as to provide material for early metallurgical and commutation testing as part of ongoing mining studies, the company told investors.
The Company noted that handheld XRF readings will be expected in the coming weeks from 60+ rock chip samples collected during a recent field reconnaissance programme at the site.
With an estimated 10 to 12-week turnaround for the laboratories to process any samples in Western Australia, Alien said this method is acceptable to aid in finalising this drilling phase.
The Company highlighted to investors that drilling on the Brockman tenement is also still a priority, with a follow up field mapping and sampling programme planned prior to finalising a drilling programme, along with getting the necessary permission to drill within the tenement.
“This work will develop alongside Lloyd Edmunds’ operational development work and the Company is excited to continue to push this significant project forward,” said Brodie Good.
Last week, Alien Metals announced that it had raised gross proceeds of around £3.5m which the company says will enable it to deliver its work programme over the next 6-12 months.
The global minerals exploration and development company raised c.£3.5m at 0.85p representing a discount of approximately 21.3% to the closing price on Wednesday.
Specifically, Alien Metals has undertaken the £3.5m placing to progress its corporate and operational strategy, which includes progressing Phase 3 infill and extensional drilling on the Hancock Iron Ore Project and putting plans in place to move the project towards mining.
The funds will also aid ongoing exploration around the Elizabeth Hill Silver project, further exploration drilling in Mexico; early stage exploration on regional tenements including Munni Munni North and resource drilling at the Brockman Iron Ore Project and for working capital.
In recent weeks, an initial independent scoping study for the Hancock Iron Ore Project demonstrated the potential of exceptionally strong returns from a potential development.
In October, Alien announced that it was advancing the Hancock Iron Ore Project by engaging the mining consultancy firm Mining Plus to carry out a scoping study at the project area.
Following the results from the Scoping Study, which Alien described as ‘exceptional’, the Company has begun planning the next stages of development with the appointment of a highly experienced iron ore operations manager to commence the permitting process.
Last month, Alien noted that ongoing drilling at the Elizabeth Hill Silver Project had continued to produce visible sulphides and silver and was providing “excellent geological information.”
In September, Alien said it was “extremely encouraged” by the initial findings of its inaugural drilling program at the Elizabeth Hill Silver Project in the Pilbara Region of Western Australia.
This inaugural program was designed to test some of the historic drilling undertaken over 20 years ago for quality control (QA/QC) purposes, but also to test the Company’s belief that the historical silver ore body forms part of a much larger and widespread mineralised system.
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