Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to report that its joint venture partner, West Coast Silver Limited (ASX: WCE) (formerly Errawarra Resources Limited), has announced significant assay results from recent float and rock chip sampling at the Elizabeth Hill Silver Project (“Elizabeth Hill” or the “Project”) in the Pilbara region of Western Australia. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by WCE.
Highlights:
· Silver assays of up to 490 g/t Ag returned from float and rock chip sampling.
· Multiple samples returned elevated copper (up to 0.42% Cu) and gold (up to 0.19 g/t Au).
· Silver-rich float samples have been identified up to ~500m north and ~200m south of the historic Elizabeth Hill high-grade silver mine, indicating potential for new mineralised zones.
· Follow-up trenching and sampling works have commenced on site.
· A comprehensive near-mine and regional exploration targeting study is nearing completion.
Robert Mosig, Technical Director, commented:
“These latest assay results continue to validate the outstanding exploration potential at Elizabeth Hill. The scale and tenor of the silver mineralisation identified in areas away from the historic mine suggest the possibility of multiple new mineralised systems within the broader project area. With trenching now underway and a follow-up drill programme in planning, we are excited to see this momentum continue as our joint venture partner advances the project.”
The sampling program involved the collection of 115 rock chip samples, with assay results confirming anomalous silver, copper, and gold mineralisation in areas both north and south of the historic Elizabeth Hill high-grade silver mine. Notable assay results from the complete results, which are detailed in Appendix A of the announcement include:
· 25EW06-062: 490 g/t Ag, 0.03 g/t Au, 0.17% Cu
· 25EW06-057: 316 g/t Ag, 0.19 g/t Au, 0.11% Cu
· 25EW06-063: 276 g/t Ag, 0.13 g/t Au, 0.14% Cu
· 25EW06-025: 179 g/t Ag, 0.42% Cu
· 25EW06-064: 178 g/t Ag, 0.06% Cu
Figure 1 – Location of float sample assay results north and south of the historic Elizabeth high grade silver mine
These significant assay results-up to 490 g/t Ag, 0.19 g/t Au, and 0.42% Cu-occur in two key areas relative to the historic high-grade silver mine. A cluster of samples grading >100 g/t Ag are located over an area 200-500m north of the mine, while an isolated sample (170 g/t Ag) lies ~200 m to the south. The results suggest potential for additional new mineralised source areas and are possibly related to the north-south trending Munni Munni fault system.
Upcoming Works
Following on from the completion of its inaugural drilling campaign and building on its significant results, including 21 metres at 1,047g/t Ag from 10 metres in 25WCDD001, West Coast Silver has now commenced a systematic approach to further exploring Elizabeth Hill and the surrounding areas.
This includes:
· Trenching, mapping, and additional rock chip sampling, which has already commenced at site;
· Completion of near mine and regional targeting works, including prioritisation of targets (estimated completion 3-4 weeks); and
· Development of follow-on drill campaigns to the inaugural campaign, including consideration for air core, reverse circulation and additional diamond drilling.
Elizabeth Hill Silver Project Overview
Elizabeth Hill, one of Australia’s highest-grade silver projects, has a proven production history outlined below:
· High grades enable low processing tonnes: 1.2Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag)[1]
· Previous mining operation ceased abruptly in 2000 because of low silver prices (US$5/oz)[2] and a dispute between previous joint venture parties
· Simplistic historical processing technique: native silver was recovered via low-cost gravity separation due to high grades and large silver nugget sizing
· Significant untapped potential remains in and around the historic mine site, with limited, outdated drilling and geophysics deployed
· Tier-1 mining jurisdiction – located on a mining lease with processing facilities adjacent at the nearby Radio Hill
Figure 2 – Tenement Location
Lithium Joint Venture Update
West Coast Silver has advised that it has terminated its lithium joint venture with Alien Metals at Pinderi Hills to focus on its core silver exploration strategy. Alien retains 100% ownership of the lithium-prospective ground.
Competent Person’s Statement
The information in this announcement that relates to Drilling Results is based on information compiled by Mr Robert Mosig a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mosig is a Director of West Coast Silver Limited and a Director of Alien Metals Limited.
Mr Mosig has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and a Specialist under the 2015 Edition of the ‘Australasian Code for Public Reporting of technical assessments and valuations of mineral assets’.
Mr Mosig consents to the inclusion in the report of the matters based on his information and in the form and context in which it appears.
For further information, please visit the Company’s website at www.alienmetals.uk
