Alien Metals provides Hancock assay result update

Highlights

• Extensions to the existing inferred resource have been identified from the Phase 3 drilling programme:
  • 46 RC holes for 1146 m were drilled to target extensions to known deposits and infill drilling on existing JORC inferred resource of 10.4 million t at 60.4% iron (Fe).
• 17 of the 46 RC holes returned excellent high-grade intersections.
• Results include 9 m at 62.2% Fe including 4 m at 64.3% Fe in hole 003_13, 8 m at 63.3% Fe in hole 003_14 and 7 m at 63.3% Fe in hole 003_18.
• Excellent infill and extension results from Ridge C and E resources.
• Consistent grades of over 60% Fe with low levels of deleterious elements.

Bill Brodie Good, CEO and Technical Director of Alien Metals, commented: “We are again delighted 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 under-standing of the high-grade units' spatial relationship in the ridge systems.

“With these great results, Howard Baker is reviewing the resource while the team and I are already planning the next phase of drilling. This will hopefully begin in a couple of months' time with the aim of increasing the existing resource as well as testing new target ridges. The diamond drill core is currently being processed in Perth and, once all results are received, will be incorporated into the overall dataset for development purposes.

“Development work to get to shovel ready 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 while ALS laboratory continue to work on the bulk sample.”

As announced on 11 November 2021 and 12 January 2022, the RC drilling that was completed at the end of 2021 comprised a total of 46 holes for 1146 m, with just over half of the drilling taking place on Ridges C and E. This drilling 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 testing a further 650 m along strike, while 4 holes were drilled to update the Ridge C resource with a couple of initial test holes extending the strike potential by a further 350 m.

Read the article online at: https://www.globalminingreview.com/exploration-development/03032022/alien-metals-provides-hancock-assay-result-update/