REG - Alien Metals Limited - Heritage Agreement signed for Vivash Gorge

Alien MetalsAnnouncement

10/10/2023 07:00

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RNS Number : 4781P  Alien Metals Limited  10 October 2023

 

Trading Symbols

AIM: UFO

FWB: I3A1

10 October 2023

 

 

Alien Metals Ltd

("Alien" or "the Company")

 

Heritage Agreement signed for Vivash Gorge Exploration Licence supports
expanding Iron Ore footprint

 

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company,
is pleased to announce its subsidiary company Iron Ore Company of Australia
Pty Ltd ("IOCA") has executed a Heritage Agreement ("HPA") with the PKKP
Aboriginal Corporation RNTBC  ("PKKP AC") associated with its exploration
licence at its 100% owned Vivash Gorge Project ("Vivash"), in the Pilbara
Region, Western Australia.

Highlights:

·   IOCA has entered into the HPA with PKKP AC for its exploration licence
E 47/3071 ("the Licence"). The purpose of the HPA is to facilitate IOCA's
exploration of the Licence co-operatively with the Puutu Kunti Kurrama and
Pinikura people while ensuring best practice protection of their cultural
heritage.

·   The Puutu Kunti Kurrama and Pinikura People are the Common Law Holders
over native title determination that spans the Vivash tenement.

·  The HPA is the first step in the Company's engagement with PKKP
Traditional Owners in relation to the Vivash Project and their endeavours for
long-term collaboration, cooperation and agreed protection measures for areas
of cultural importance to the PKKP people and, inter alia, to provide the
basis for the Company undertaking the required heritage surveys.-

·   Execution of the HPA allows IOCA to begin engaging with PKKP AC to
arrange heritage surveys as part of planning exploration campaigns at the
Vivash Prospect looking for potentially new prospects of Iron Ore resource.

Troy Whittaker, Chief Executive Officer commented:

"The Company and its Board would like to thank the PKKP Aboriginal Corporation
and its Board of PKKP Directors for their support in execution of the HPA.

"The Vivash Gorge prospect is an important part of the Company's strategy to
develop and expand its Iron Ore operations in the Pilbara Region, Western
Australia. Execution of this HPA allows the Company to unlock this strategic
tenement that sits within close proximity to proven large scale production
mines like Fortescue's Eliwana and Rio Tinto's Brockman 4."

 

Further Information

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

Figure 2: Vivash Gorge Tenements

Vivash Gorge

 

Vivash Gorge covers ~47km(2) of highly prospective ground within the vicinity
of proven resources. Detailed geological mapping has been completed by
previous explorers, providing the Company with good base geological maps to
build on. No prior exploration work has been conducted on the central area of
the tenement, which will be the focus of the Company's exploration.
Neighbouring Fortescue Metals Group (FMG) has defined high grade DSO iron ore
mineral resources of:

·  28Mt @ 58.8% Fe which abuts the eastern tenement boundary, with close
proximity drilling returning high grade results which include 70m @ 60.5% Fe
from surface (and only 60mtrs east of the IOCA tenement boundary), and

·   96Mt @ 58.7% Fe within short proximity to the northeast of the tenement
boundary.

Importantly, these deposits sit within the same stratigraphy that is contained
within the Vivash Gorge tenement and the resource at Vivash Gorge SW (non
IOCA) appears likely to continue into the Vivash Gorge tenement (see figure
three). As a result, the Company believes that the area has the potential to
host high grade iron ore.

Figure 3: FMG Historical drilling in the vicinity of Vivash Gorge

 

 

For further information please visit the Company's website
at www.alienmetals.uk (https://www.alienmetals.uk/) or contact:

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish   Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd

Harry Ansell / Katy Mitchell   Tel +44 (0) 207 220 1666

 

BlytheRay (Financial PR)

Tim Blythe / Megan Ray / Said Izagaren   Tel: +44 (0) 20 7138 3204

 

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Notes to Editors:

Alien Metals Ltd is a mineral exploration and development Company listed on
the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is
on delivering a near term direct shipping iron ore operation at the Hancock
Project in the Pilbara region of Western Australia.

In 2019, the Company acquired 51% of the Brockman and Hancock Ranges
high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved
to 90% legal and beneficial ownership. In May 2023, the Company also acquired
100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement.
The new tenement adjoins the Company's existing Hancock tenement, giving the
entire Hancock project direct access to the Great Northern Highway.

The Company also acquired 100% of the Vivash Gorge Iron Ore project in the
west Pilbara in July 2022.

The Company owns 100% of the Elizabeth Hill Silver Project, which consists of
the Elizabeth Hill Historic Mining Lease and the 115km(2) exploration tenement
around the mine.

In March 2022 the Company acquired 100% of the former joint venture interest
in the broader Pinderi Hills tenement group in the West Pilbara, Western
Australia. This includes the Munni Munni Platinum Group Metals Project, one of
Australia's major underexplored PGE and base metals projects. Munni Munni
holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold,
Rhodium. The Pinderi hills tenement group also has significant Nickel and
Copper prospectivity.

The Company also holds silver, copper and base metal projects in Mexico,
however is currently looking at the best way to divest these for the benefit
of shareholders.

 

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