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Alien Metals Ltd - London-based minerals exploration and development business - Completes a reverse circulation drilling programme at the Elizabeth Hill silver project and Munni Munni PGE project, located in the west Pilbara of Western Australia. Says the sulphides observed in drill holes at Elizabeth Hill and Munni Munni confirm continuation of mineralising structures. Notes the initial portable X-ray fluorescence results indicate above background concentrations of both base metals and silver. Expects priority samples to be assayed in due course.
Chair Rod McIllree says: ‘This extensional exploration drilling at depth and along strike of known metal occurrences strengthens the teams understanding of the geology and mineralised system as well as proving the expanded potential of Australia’s highest grade historical silver mine. In addition, new ideas have been tested for base metal concentrations along the main Munni Munni fault on which the Elizabeth Hill silver deposit also sits.’
Current stock price: 0.38 pence, down 4.5% on Wednesday in London
12-month change: down 51%
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