Alien Metals Limited - Mexico Exploration Update and 2019 Work Programme
PR Newswire
London, February 18
Trading Symbols
AIM: UFO
FWB: I3A1
18 February 2019
Alien Metals Ltd ("Alien" or "the Company")
Mexico Exploration Update and 2019 Work Programme
Alien Metals Limited, the AIM quoted mining exploration and development company, is pleased to announce an exploration update for its twelve wholly owned silver concessions in Zacatecas State, Mexico and details of its planned 2019 exploration programme. Within this portfolio are the Donovan 2 concession, which lies within close proximity of the San Nicolas copper zinc deposit, and the San Celso concession which consists of high-grade, low sulfidation epithermal veins.
Further to the Company's announcement of 26 September 2018, the Company undertook a comprehensive review of the asset portfolio in September 2018 which then prompted further prospecting and field mapping campaigns over the entire 1,500 hectare concession area in November and December 2018, as further detailed below.
Following this, the Company has now concluded that it believes the portfolio, held through its wholly owned subsidiary Compañia Minera Estrella de Plata SA de CV ("CMEP"), remains prospective and Alien will continue to discharge its obligations to the Mexican DGM ("Mines General Directorate").
The projects which the Company will initially prioritise in 2019 are:
Donovan 2: The project lies within close proximity of the San Nicolas copper zinc deposit, operated by Teck Resources Limited. A tranche of ground magnetic and induced polarisation ("IP") geophysics to investigate a regional magnetic anomaly has been completed. Field mapping and sampling identified the presence of pathfinder minerals, including anomalous values of copper and zinc which are consistent with the presence of volcanogenic massive sulphide ("VMS") mineralisation.
The geophysics programme comprised of 52.4 line-kilometres of magnetics and 2.6 line-kilometres of IP which highlighted several areas of interest. This initial programme is now being followed up with detailed trenching and mapping, which is intended to further test for alteration and mineralisation and to build confidence for the presence of a VMS system. The Company expects to complete this phase of exploration work in Q2 2019 and will announce the results when available.
San Celso: Prospecting and mapping work undertaken by the Company confirmed the presence of a number of major vein systems that have been previously exploited in parts during colonial times but none of which appear to have had systematic modern-day exploration.
Recent assay results, from surface, include:
| Sample ID | Ag (g/t) | Au (g/t) |
| 6901 | 500 | 0.01 |
| 6902 | 190 | 0.02 |
| 6904 | 309 | 0.30 |
| 6906 | 239 | 0.21 |
Geological mapping and sampling were completed by Company geologists in November 2018. Standards were inserted approximately every 15th sample in the sample suite and blanks were carefully inserted between mineralised vein samples. Samples were placed in high-density plastic bags and sealed with plastic ties. Samples were stored in a locked warehouse until company geologists delivered samples to ALS Global Preparation Facilities in Zacatecas City, Zacatecas State, Mexico.
The preliminary geochemical exploration work at San Celso continues to suggest mineralisation is indicative of a low sulphidation epithermal system. The Company believes there is considerable depth potential to the vein systems at San Celso, and will undertake an underground mapping and sampling campaign in 2019.
Dennis Edmonds, Chairman of Alien commented "The results of this recent work in Mexico validate the investment in the Mexican portfolio and provide exciting prospects for future work. At the same time, we continue to explore opportunities in other jurisdictions and commodities and look forward to updating investors in this regard during 2019."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please visit the Company's website atwww.alienmetals.uk, or contact:
| Alien Metals Limited Dennis Edmonds, Executive Chairman David Taylor, Company Secretary Tel: +44 (0)20 7887 6599 | Yellow Jersey PR Limited Felicity Winkles/Annabel Atkins Tel: +44 (0)774 884 3871 |
Notes to Editors
Alien Metals Limited, is an AIM quoted mining exploration and development company. Since the recomposition of the Board and company name change in 2018, Alien has focused on delivering its strategy of acquiring mining projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, where strong operational controls can be assured.
In addition to its acquisition led strategy, the Board has commenced a strategic review of the Company's established portfolio of silver exploration projects in Mexico covering an area of approximately 1,500 hectares, to identify opportunities for their development and/or monetisation.
Qualified Person
The information in this report that relates to exploration targets, exploration results, and other information of a technical nature has been reviewed by Dr Lex Lambeck Ph.D, a technical consultant to the Company. Dr Lambeck is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist, CPG-11734, with over 15 years of relevant experience in exploration and assessment of resource projects.
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are deemed forward-looking information.
This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions, including the availability of sufficient funds. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
