Alien Metals Ltd has a diverse portfolio of commodities to develop

Alien Metals Ltd is an exploration and mining project developer with a focus on precious and base metal commodities.

The company has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets, including two recent acquisitions in 2019. These include the Brockman and Hancock Ranges high grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver project, both located in the Pilbara region, in Western Australia.

() will announce the results of a scoping study on the Hancock iron ore project in the Pilbara region of Western Australia on October 19.

The announcement and a subsequent live webinar will provide more details on the project. Last month, Alien Metals revealed a maiden JORC-compliant inferred resource of 10.4 million tonnes at 60.4% iron: 7.8 million tonnes at 60.1% iron at the Sirius Extension target and 2.6 million tonnes at 61.5% iron at the Ridges targets.

READ: Alien Metals reveals maiden inferred resource of 10.4Mt for Hancock iron ore project

Alien increased its interest in Hancock to 90% in May 2021.

Alien Metals Ltd (LSE:UFO) said drilling at its Elizabeth Hill silver project in the Pilbara region of Western Australia continued to produce visible indications of mineralisation.

Visible sulphides and native silver have been observed in core and RC chips, which Alien believes points to a larger polymetallic halo around the original high-grade silver deposit.

Alien Metals Ltd (LSE:UFO) booked a loss of US$816,000 for the six months to June 2021, as exploration and evaluation work continued across the company’s broad portfolio of base and precious metals assets.

As at the end of June cash and cash equivalents stood at US$3.3mln.

Broker Turner Pope has said that there is “quite significant potential for an upward reassessment” of the valuation of Alien Metals Ltd (LSE:UFO), after drill results from the Hancock iron ore property in Australia showed clear potential for a direct shipping ore operation.

“With the project potentially firming up as a standalone operation, selected results include 47 metres at 61.5% iron from two metres and 78 metres at 61.2% iron from one metre,” said Turner Pope.

Alien Metals Limited’s (LON:UFO) technical director Bill Brodie Good joins Proactive to discuss the announcement of their maiden inferred resource estimate of more than 10 million tonnes for the Hancock iron ore project in the Pilbara region of Western Australia.

The company reported an inferred JORC-compliant resource of 10.4 million tonnes (Mt) at 60.4% iron, including 7.8Mt at 60.1% at the Sirius Extension target, 1.5Mt at 61.2% at the Ridge E target and 1.1Mt at 61.9% iron at the Ridge C target. These three targets form part of the Western Ridges prospect.

Brodie Good explains that with ‘only a quarter of the Western Ridges targets tested to date, there is considerable scope to grow the DSO resource over the next 6 months.’