Alien Metals (UFO ) said it has now completed its acquisition of a 100% interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia.
The Munni Munni Project, which is home to the largest ultramafic intrusion in the West Pilbara, is subject to a joint venture between Artemis Resources and Platina Resources.
The Project is considered to be an advanced exploration project containing palladium and platinum group elements (PGE), in addition to significant quantities of other strategic metals including rhodium, nickel and copper, that is home to one of Australia’s largest PGE deposits.
Following its acquisition, Alien Metals believes that it could potentially extend the historic resource at the project and identify new mineralised systems in both untested additional PGE bearing reefs as well as the larger base metal system associated with the regional geology.
Over the last couple of months, the Company has been establishing a team of experts to assist with driving the Munni Munni Project forward. This has included specialists in PGE geology, processing and metallurgy, product marketing and offtake and investment finance.
Looking ahead, Alien Metals said it plans to commence on-ground exploration at Munni Munni as soon as possible, once all appropriate permitting is in place. This exploration work includes mapping and sampling at surface, follow-up trenching, in-fill, extension and exploration drilling on various targets both known and new, as well as looking at development options, it noted.
The company also explained to investors that the consolidation of the highly prospective Munni Munni and Elizabeth Hill project areas will occur for the first time in over 30 years.
Bill Brodie Good, Chief Executive Officer & Technical Director of Alien Metals, commented:
“With the completion of the Munni Munni acquisition, we have further enhanced our position in the West Pilbara region. The Company has now secured 100% of one of Australia’s largest undeveloped PGE projects at a time when global geopolitics has placed significant supply constraints on strategic metals like Palladium and Platinum. It is important to note that almost 60% of the historically defined contained metal at Munni Munni is Palladium. The security of supply for these critical minerals will become a key factor for global governments and industry.
Brodie Good commented: “We are now in a position to start technical work on the project and consolidate activities undertaken over the last 20 years to advance the project as a priority.
He added: “Additionally, we are excited to have a larger geological setting to incorporate aspects from the different locations of the intrusion into an overall project and concept.”
Also commenting, Alastair Clayton, Executive Director of Artemis Resources said: “We are pleased to become a significant shareholder of Alien Metals who have been able to consolidate for the first time in many years one of Australia’s largest PGE projects. Artemis is supportive of Alien’s plans to explore and develop what could become a major strategic metals project and we look forward to being a long-term shareholder of the Company.”
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