Alien Metals (UFO ) announced that preparations have begun to optimise the Phase 3 drilling programme on the Hancock Iron Ore Project which is anticipated to be completed in 4Q21.
The global minerals exploration and development firm said these preparations follow final laboratory assay results from the second phase of drilling which have now been received.
The Phase 2 drilling has ‘clearly defined significant widths of direct shipping ore (DSO) from surface’ at the Sirius Extension Prospect and the Western Ridges Prospect with all intersections from the Sirius Extension Project pointing to a contiguous DSO grade deposit.
The results will be included in the maiden resource estimation work and mining studies that Alien recently started. Initial results from these programmes are expected next month.
To date, significant intersections from the Western Ridges Prospect include, inter alia, 10m @ 58.37% of iron, 10m @ 60.20% of iron, 11m @ 59.46% of iron and 10m @ 60.32% of iron.
“We are now confident that the current drill spacing is sufficient to enable the delineation of a maiden JORC resource to be calculated for the Sirius Extension Prospect,” said the firm.
Alien said the “excellent results” confirm its initial pXRF readings and that it is “excited to push ahead with a third drilling program to in-fill existing DSO grade intersections, mainly on ridge C and E, to potentially enable a second DSO grade resource to be calculated.
Figure 1: Location of Hancock Iron Ore Project, Western Australia
(Source: Alien Metals)
The next drilling phase at Hancock, in the Pilbara region of Western Australia, is designed to target the delineation of a maiden resource estimate at the Western Ridges Prospect.
Bill Brodie Good, CEO & Technical Director of Alien Metals commented: “At each new step the Hancock tenement is shaping up to be a significant development opportunity for Alien.
He said Alien has now defined “a robust DSO grade iron ore orebody” at the Sirius Extension Prospect and that the Company is looking to bring this project online as soon as is practical.
“We also believe that the Western Ridges Prospect provides a significant opportunity to open a second front on the potential development schedule within this outstanding tenement.”
Figure 2: Significant drilling results to date, Sirius Extension, Hancock Tenement, August 2021
[Source: Alien Metals]
John Battista, Principal Mining Consultant, Mining Plus, said “Based on our conceptual study-level work to date, the Hancock project has the potential to be developed into a niche direct-shipping iron ore producer in the heart of the world-famous Pilbara region of Western Australia.”
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In recent weeks, Alien has received ‘encouraging’ initial results from its drilling program at the Hancock Iron Ore project, widening its understanding of the mineralisation of the area.
Today’s news also follows Alien’s recent execution of a conditional Share Sale Agreement which increased its effective interest in the Hamersley Iron Ore Direct Shipping Ore Project.
With Alien having acquired a more meaningful stake in the Hamersley project (from 51% interest to over 90%) in addition to the continued high price of iron ore and high demand Alien said it expects to drive Hamersley forward while continuing to deal with the necessary paperwork for maiden drilling on the highly prospective Brockman Licence further west.
Iron ore prices have risen to record highs with expectations building that benchmark prices could get to $200 a tonne which would beat the $194 hit more than a decade ago. As a result of the solid prices, Alien Metals believes its iron ore projects will deliver significant value.
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