Alien Metals (UFO ) said it has identified further high-grade ridge targets at the Hancock Iron Ore Project, which forms part of the group’s Hamersley Iron Ore Project in Western Australia.
Bill Brodie Good, Chief Executive and Technical Director of Alien Metals told investors that ongoing exploration across the Hancock Project continues to deliver “outstanding results.”
Results from a recent rock chip sampling programme conducted at part of Phase 3 drilling at Hancock has confirmed the potential for further DSO grade of iron mineralisation at surface.
During the programme, 67 rock chip samples were taken across newly identified target areas with 25 samples returning assays of greater than 60% Fe and with an average grade of 63%.
As a result, the exploration programme has highlighted the excellent continuity of potential high-grade zones with at least five new high-grade ridge targets defined, Alien explained.
In total, over 3km strike length of new drill targets have been identified with the results further supporting the Company’s belief of repeat high-grade ridges across the Hancock Project.
The Group added that none of these newly identified targets have yet been drill tested.
Alien believes the similarity of the extensions is also ‘highly encouraging’ and it is now planning the next phase of drilling to turn these surface targets into potential new resources.
Shares in Alien Metals were trading 6.45% higher this morning at 0.825p following the news.
“To have identified further potential high-grade ridges is very encouraging and, once the weather permits, we will aim to continue our programme of drill testing,” said Brodie Good.
The company highlighted that the deleterious elements from the results are also all within acceptable range to not affect the overall grade and potential of these targets at Hancock.
Alien said it is “very pleased” with this continued positive exploration work and that it will continue to develop all these targets as well as new untested ground in the coming months.
It noted that maiden drilling on the Brockman tenement is now in final planning and the Company hopes to carry out its maiden drilling on Brockman in the coming months.
Brodie Good added that the company’s iron ore assets in Australia are now progressing “very rapidly.” He detailed: “At Hancock, the bulk sample testing is nearing completion and the work programme to secure the necessary permits in getting the project shovel-ready remains ongoing. Across at the Brockman Project, planning of our maiden drill programme has been completed and we are looking forward to testing the project during the next field season.”
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