Acquisition agreement boosts Alien Metals' Hancock Development
Published by Joe Toft,
Editorial Assistant
Global Mining Review,
Alien Metals Ltd has announced that its wholly owned subsidiary, Iron Ore Company of Australia Pty Ltd (IOCA) has entered into an agreement with Mallina Exploration Pty Ltd to acquire a strategic tenement, currently under application with the Department of Mines, Industry Regulation and Safety DMRIS, Western Australia bounding the Hancock Project key to the development of the Project.
Alien also announces that it has applied directly for two additional exploration licences within the Hancock area, ELA47/4605 or 'Hancock West', and ELA47/4817 or 'Hancock Northwest', which provide future resource growth opportunities.
Bill Brodie Good, CEO of Alien Metals, commented:
"This is a key strategic acquisition of the tenement application located on the southwestern boundary of Hancock. This underlies the optimum route of the planned haul road to enable extraction of the iron ore from Hancock to market via the shortest and most unencumbered route. The farm-in commitment allows us to include the relevant geotechnical work required from us on the haul road. We therefore view this as coming well within our general Project budget. This is a further significant step in de-risking the Project and enabling us to have full control to get the Project into production.
"Coupling the recent mandate agreement with Anglo America along with this agreement allows us to continue to strengthen our position to be mining at Hancock next year."
Read the article online at: https://www.globalminingreview.com/mining/06092022/acquisition-agreement-boosts-alien-metals-hancock-development/
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