Business
Capstone to commence drill program at Donovan 2
Capstone to commence drill program at Donovan 2.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 4655L\n Alien Metals Limited\n 13 January 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Trading Symbols\n \n \n AIM: UFO\n \n \n FWB: I3A1\n \n \n 13 January 2021\n \n \n \n \n \n \n Alien Metals Ltd \n \n \n \n \n (\"Alien Metals\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n Capstone to shortly commence 2,500m drill program at Donovan 2 Cu-Au Project\n \n \n \n \n \n \n \n \n \n Follow the link to view the announcement in full including all figures: \n \n http://www.rns-pdf.londonstockexchange.com/rns/4655L_1-2021-1-12.pdf\n \n \n \n \n \n Alien Metals Ltd (AlienMetals or the Company), a minerals exploration and development company, is pleased to announce that since executing the earn-in agreement (Agreement) with Capstone Mining Corp (Capstone) (TSX: CS) over its Donovan 2 Copper-Gold project (the Project) in Mexico (Transaction), Capstone have completed their initial 2020 obligation of exploration expenditures and will advance to the next phase of the Agreement. \n \n \n \n \n \n Pursuant to the terms of the Agreement, Capstone can acquire a 65% interest in Donovan 2 through committed expenditure and cash payments totalling ~US$3.9million. Capstone can move to an 80% interest in the Project through free-carrying Alien to completion of a prefeasibility study. \n \n \n \n \n \n The core of the work carried out by Capstone in late-2020 was to complete a detailed close spaced surface Induced Polarisation (IP) geophysical survey across the majority of the tenement, as announced by Alien Metals on 13 November 2020, to both add infill detail to the northern anomaly already defined by Alien and as an extension to historic geophysical work undertaken by Alien. This work was successfully completed in December 2020 with the final reporting and interpretation currently being completed.\n \n \n \n \n \n Capstone have indicated that they have planned an initial 2,500m drilling program as part of their required $450,000 USD expenditure commitment for 2021. Drill locations will be finalised following interpretation of the IP report, with provisional planning well underway.\n \n \n \n \n \n Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:\n \n \n \n \n \n ...