Alien Metals (UFO ) has reported further significant high iron ore assay results from its Phase 3 drilling programme at the Hancock Iron Ore project, part of its Hamersley Iron Ore Project.
The minerals exploration and development company said further extensions to the existing inferred resource previously found have been identified from the phase 3 drilling programme.
In total, 46 reverse circulation holes were drilled for 1,146m targeting extensions to known deposits and infill drilling on existing JORC inferred Resource of 10.4Mt @ 60.4% of iron (Fe).
Out of these holes, 17 holes returned ‘excellent’ high grade intersections, it reported. The results included 9 metres at 62.2% of iron including 4m at 64.3% of iron in hole 003_13; 8m at 63.3% of iron in hole 003_14; and 7 metres at 63.3% of iron in hole 003_18, respectively.
Alien returned ‘excellent’ in-fill and extension results from Ridge C and E resources and witnessed consistent grades of over 60% of iron with low levels of deleterious elements.
As previously reported, the RC drilling that was completed at the end of 2021 comprised a total of 46 holes for 1,146m, with just over half of the drilling taking place on Ridges C and E.
Alien Metals explained that drilling was focused on identifying extensions of the mineral resource along strike as well as increasing drilling density for future resource reclassification.
Of the 28 holes drilled on Ridge E, 18 drill holes were designed to increase the geological knowledge within the current resource as well as to test a further 650m along strike.
In addition, 4 holes were also drilled to update the Ridge C resource with a couple of initial test holes extending the strike potential by a further 350m. A further 4 exploratory holes in the newly defined Ridge F and 6 in Ridge G were also drilled to complete this drill programme.
Overall, the Company said it is ‘extremely pleased’ with the overall results of this campaign and it believes the results have added further tonnage to the resource while at the same time ‘continuing to enhance the high grade nature of the project with continued excellent results.’
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: “We are again really pleased with the outcome of this third drilling programme at Hancock with some excellent high grade intersections adding more confidence to our existing resource as well as assisting in our understanding of the high grade units spatial relationship in the ridge systems.”
He stated: “With these great results, Howard Baker is reviewing the resource while the team and I are already planning the next phase of drilling to kick off hopefully in a couple of months time with the aim of increasing the existing resource as well as testing new target ridges.
Alien Metal’s diamond drill core is currently being processed in Perth, and once all results have been received, it will be incorporated into the overall dataset for development purposes.
“Development work is also pushing ahead really well with an imminent third party survey to start to work up the specifics for the haul road intersection with the Great Northern Highway and discussions with several possible offtake partners also progressing,” added Brodie Good.
Alien Metals is nearing the completion of its acquisition of the Munni Munni project after it unveiled on Monday that it had received a key approval from the Australian Government.
The firm received a ‘no objection’ letter from the Australian Foreign Investment Review Board, a key condition precedent to the acquisition of the platinum group metals and gold project.
The Munni Munni Project is adjacent to Alien Metal’s Elizabeth Hill project which it said already hosts potential for further significant silver, copper, nickel and PGE mineralisation.
In November and December 2021, Alien entered into two agreements with ASX-listed Platina Resources and Artemis Resources to acquire 100% of their current joint venture interests.
The Munni Munni Project hosts the largest ultramafic intrusion in the West Pilbara and is one of the biggest undeveloped primary Platinum Group Elements (‘PGE’) Resources in Australia.
Munni Munni has already been subject to considerable historical expenditure, which led to the delineation of over 2Moz of precious metal with potential for more along strike and at depth.
The Group believes that a robust demand for Platinum Group Elements (PGEs) via the transition to electric vehicles will lead to projects like Munni Munni being in high demand.
The ‘no objection’ from FIRB stands as one of the key conditions precedent to the acquisition. Following this, the Company plans to satisfy the remaining conditions ‘in the coming weeks.’
Brodie Good said Alien is now finalising the outstanding aspects to the conditions precedent “to be able to complete soonest and start working in earnest on this very exciting project.”
Follow News & Updates from Alien Metals: