Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to report the results of the recently completed surface mapping and sampling program carried out on its newly acquired Nueva Andromeda permit, strategically contiguous to the San Celso silver project in Zacatecas State, Mexico.
· Surface Sample Results including:
o 734 g/t Silver (“Ag”)
o 488 g/t Ag
o 270 g/t Ag and
o 1.93% Zinc (“Zn”)
· Numerous historic mine workings located
· Potential for increased silver resource at San Celso
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
“We are very pleased with the results of this sampling and mapping program, which are greatly encouraging for the potential of the project. We were particularly pleased to see that the results confirm our interpretation that there is a continuation of silver and base metals mineralisation and historic mining within the Nueva Andromeda permit area, with the total strike length now increased by a further 20-30% for the San Celso Project.
“The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides and hence are very similar to the mineralisation seen in the San Celso veins to the north. All samples were taken from the surface as float associated with various size dumps from the historic mining in the area.”
Figure 1: Location of Nueva Andromeda Permit in relation to San Celso with projected mineralised systems, Alien, March 2021
Figure 2: Summary of sampling results, Nueva Andromeda Permit, San Celso Project, March 2021
Table 1 below lists the details of the seven samples taken in this brief program along with the results. Of note, coincident with the significant silver results, of which all samples were strongly anomalous with a maximum of 734 g/t Ag from sample 9203, 488 g/t Ag from sample 9209 and sample 9210 returning 270 g/t Ag, there are also three samples that returned significant gold up to 0.44 g/t Au, as well as a significant zinc anomaly up to 19,350 g/t Zn (1.93% Zn) from sample 9206 while still returning 163 g/t Ag. The samples are all composed of quartz and carbonate dominant vein material with varying amounts of sulphides, hence they are very similar to the mineralisation seen in the San Celso vein systems to the north.
The Company is extremely pleased with these initial results which, as expected, add exciting potential to the overall San Celso project. A detailed review of all data from the project has been done and a plan to attempt to access the historic underground workings in this area are being prepared to further increase knowledge and add sampling information, while work continues on obtaining the drilling permit grant.
Table 1: Sample information, Nueva Andromeda Permit, March 2021
|Sample Nbr||Easting||Northing||Lithology||Alteration||Sample type||Ag ppm||Au g/t (Gold)||Zn g/t|
Figure 3: Silver results, maiden Nueva Andromeda permit sampling, Alien, March 2021
Figure 4: Nueva Andromeda vein sample, March 2021
The Board of Alien continues to assess a range of mineral projects and opportunities, with particular focus on exploration projects with near term news flow and value creation.
For further information please visit the Company’s website at www.alienmetals.uk, or contact:
|Alien Metals LimitedBill Brodie Good, CEO & Technical DirectorSt-James’ Corporate Services, Company Secretary|
Tel: +44 20 7796 8644
|Turner Pope Investments (TPI) Limited (Joint Broker)Andy Thacker / Zoe AlexanderTel +44 (0)20 3657 0050|
|Beaumont Cornish Limited (Nomad)James Biddle/ Roland Cornishwww.beaumontcornish.comTel: +44 (0) 207 628 3396||First Equity Limited (Joint Broker) Jason Robertson Tel +44 (0)20 7374 2212|
|Yellow Jersey PR (Financial PR)Sarah Hollins / Joe Burgess / Matthew McHale[email protected]Tel: +44 (0) 20 3004 9512|
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company’s focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.
In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in 2020 acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.
The Company also holds two silver projects located in Zacatecas State, Mexico’s largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company’s Donovan 2 Copper Gold project in the same region is currently under an Earn-in agreement with Capstone Mining Corp. of Canada.
The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically.
The information in this report that relates to exploration targets, exploration results, and other information of a technical nature has been reviewed by Dr Lex Lambeck Ph.D, a technical consultant to the Company. Dr Lambeck is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist, CPG-11734, with over 15 years of relevant experience in exploration and assessment of resource projects.
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are deemed forward-looking information.
This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions, including the availability of sufficient funds. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.