Alien Metals Limited (AIM:UFO) Update on Mexico Projects

Alien Metals Limited (AIM: UFO), a global minerals exploration and development company, is pleased to update the market on its Mexican projects – San Celso and Donovan 2.

The Company has now received all laboratory analysis results for the recent limited drilling program on San Celso and Donovan 2. 7 holes were drilled for a total of 611 meters, 3 holes at San Celso for 201m and 4 holes at Donovan 2 for 410m. No significant intersections were returned for San Celso. An anomalous section was identified with a 1.87m interval in hole DONDD-A03 on Donovan 2 returning an assay of 0.33% Copper (“Cu”) with minor associated Lead (“Pb”) and Zinc (“Zn”) from a depth of 9.43m to 11.3m. The sample recovery in this section, along with the majority of the intersections of interest, was sub-standard for the industry, with returns of only 15-20% in the key areas. However, this anomaly is encouraging as further copper mineralisation has been identified at Donovan 2.

The Donovan 2 drilling, while not returning any significant mineralised intercepts, did identify a 34m zone of weakly anomalous zinc in hole DONDD-A04; this correlates with a similar zone in hole DON21-01 drilled in 2021. This could be an indication of weaker mineralisation close to a higher-grade orebody below and the Company is reviewing all data now available on the project to decide whether any future programs are warranted. A schematic geological interpretation in figure 5 below shows the current concept. Of particular note, is that the nearby San Nicolas deposit was discovered at a depth of 200m, so the target zone at Donovan 2 could be deeper than previously tested.

At San Celso, the local stakeholders have recently advised Alien that they will now not allow the Company to drill in the central licence, which is unfortunately the priority target area for future drilling. Subsequently, no further work will be done on the San Celso project until future access can be secured.

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: “While we are highly disappointed with the news from San Celso meaning we have not secured access to advance the project as previously planned, we are encouraged by the anomalous results from the Donovan 2 assays, even though they lack any single assays that investors may deem ‘economic’. Geologically, enough indicators are present for us to remain optimistic and they may provide vectors to a potentially larger zone of mineralisation. While we will continue to review the next phase of activity for these projects, the Company will continue to push forward with the Hancock Iron Ore Project and the Munni Munni Complex in Western Australia.”

Figure 1: Location of Alien’s projects, Mexico

Hole DONDD-A04 has a zone of elevated zinc from 161-195m with a high value of 468 g/t Zn and an average of 176 g/t Zn in conjunction with elevated values for magnesium and manganese as well which could be indicative of being close to a more economic body close by, either deeper or laterally. A comparable elevated zinc zone in hole DON-01 drilled in 2021 suggests presence of weak mineralisation at this level being sourced from deeper in the profile.

Figure 2: Copper anomalies in drill hole DONDD-A03, July 2022

Figure 3: Zinc anomalies in drill hole DONDD-A03, July 2022

Figure 4: Zinc anomalies in drill hole DONDD-A04, July 2022

Figure 5: Schematic interpretation of main geology around Hole DONDD-A04, July 2022

The Company is currently reviewing the next steps for these projects.

For further information please visit the Company’s website at, or contact:

Alien Metals Limited

Dan Smith, Non-executive Chairman

Email: [email protected]

Bill Brodie Good, CEO

Tel: +44 20 3811 2144

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