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.

() said an initial independent Scoping Study for the Hancock iron ore project has shown “exceptionally” strong returns are possible from a potential development.

The initial study showed that the current resource of 10.4 million tonnes will sustain an eight-year mine life, based on a mining rate of 1.25 million tonnes per year (Mtpa), and a pre-production capital estimate of less than US$30mln (GBP22mln).

The AIM-quoted company also reported that strip ratios were exceptionally low, about 1:1 on the Ridges deposits, and that operating costs are estimated to be below US$60 a tonne on a Free on Board (FOB) basis.

“We could not be more pleased with progress on the Hancock iron ore project to date,” said chief executive Bill Brodie Good.

() 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.

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.

We always knew that the iron ore ground held by () in Western Australia was highly prospective in terms of grade and location.

The remaining questions were: how much ore is there really there, and is it economic?

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.

“Having now defined continuous DSO grade iron ore over a strike length of 350 metres at the Sirius Extension alone, once all laboratory results are available management will have sufficient data to calculate a maiden JORC resource for the prospect.”

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.’