TPI provides its latest research note on Alien Metals Limited (AIM:UFO)

Alien has provided an update on assay results from its Phase 3 drilling programme at the Group’s Hancock Iron Ore project, part of its Hamersley Iron Ore Project in Western Australia.

With 17 of the 46 reverse circulation (‘RC’) holes returning high-grade intersections that enhance last month’s results from a series of bulk sample grabs which produced an average grade of 62.2% Fe along with a low level of impurities, this confirms not only the existence of significant extensions to the existing Inferred Resource but also contributes important in-fill data for the Ridge C and E-resources.

Alien’s consulting resource geologist is now reviewing all recently produced and existing drilling data to advise on any updates to the existing resource, while management plans its next phase of drilling that is expected to commence within the next two to three months with the aim of further increasing the existing resource as well as testing new target ridges.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Alien Metals Limited. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

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