Alien Metals to commence drilling of key Mexican silver assets

Highlights

• Alien has been granted all the necessary permissions to begin drilling on its 100% owned Los Campos and San Celso Silver Projects and the Donovan 2 Copper-Gold Project in Mexico.
• Drilling at the San Celso and Los Campos Silver Projects will target the mineralised vein systems previously exploited for their high-grade silver, where head-grades in excess of 1000 g/t silver (Ag) were historically reported.
• Drilling at the Donovan 2 Copper-Gold Project will target a potentially significant copper zone that has been associated with a previously reported surface anomaly of 3.34% copper (Cu).
• The Alien management team has fostered a strong relationship with the local community to gain the social license to operate, and plans to commence drilling as soon as the geological team is mobilised and a rig secured.

Bill Brodie Good, CEO and Technical Director of Alien Metals, commented: “We are extremely pleased to have all the statutory and local permits now in place for our three Mexico projects. The in-country team has worked tirelessly in very difficult conditions to get to this point. Subsequently, we are very excited to commence the drilling programmes as soon as possible. I hope to be on site to witness the first drill hole and work with the local team to support a successful programme.”

“By combining the three programmes into a single, larger programme, we will reduce the overall costs and complete the programme more quickly. The strong market dynamics for both silver and copper, coupled with the geological potential of these projects, provides Alien shareholders with very strong leverage to any drilling success, so we are keen to get the rods turning and generating results.”

Alien has been granted all the necessary statutory and local permits to be legally able to commence drilling on its Donovan 2, Los Campos and San Celso permits.

The San Celso and Los Campos projects both contain historic, very high-grade, underground silver mines, dating back more than a century. Both present the classical high-grade narrow vein epithermal mineralisation associated with the regional mineralised systems of the metallogenic belt that Zacatecas straddles. A detailed grid drilling programme has been planned for both projects to enable resource calculations in the future while these initial drill programmes will be as originally planned based on initial wide spaced holes within the more detailed grids to identify initial mineralisation thickness, grade and continuation. This method means the company can test both projects cost effectively as a first phase, to help next stage planning and targeting depending on the results, rather than only testing one of the two very prospective projects at the outset.

The Donovan 2 target is to locate the deep-seated source of the high-grade copper surface samples (up to 3.34% Cu) taken from the Los Alamos well. The Company feels that this has not been tested sufficiently to date, and is looking forward to being able to fully test this target.

Alien has fostered a strong relationship with the local community around these projects during the pandemic and is pleased that it is now able to push ahead with this significant next stage of exploration which it believes is crucial for further development of these projects, as maintaining the social license to operate is vital to Alien's approach to mineral exploration.

Alien plans to commence drilling imminently with signature of a drilling contract with a local but highly experienced drilling company, providing a very compact low impact track mounted drilling rig while its in-country team, led by Jose Luis, prepares to start the programme as soon as possible.

The company has also provided an update in relation to the binding heads of agreement (the agreement) with ASX listed Platina Resources Ltd, to conditionally acquire Platina's 30% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia. As per the 24 November 2021 and 21 January 2022 announcements due to further delays indicated from the authorities in Australia and with mutual consent from both parties, an extension to the settlement date to complete the satisfaction (or waiver) of the conditions precedent to the agreement has been made to 21 March 2022.

The company also advises that due to the same issue, it has had to make an extension to the settlement date for the agreement with AIM and ASX listed Artemis Resources Ltd to acquire its 70% joint venture interest in the Munni Munni Project as per the announcement of the 22 December 2021. This extension is until the 28 March 2022.

Read the article online at: https://www.globalminingreview.com/exploration-development/11022022/alien-metals-to-commence-drilling-of-key-mexican-silver-assets/