Business
Exploration Update
Exploration Update.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n Trading Symbols\n\nAIM: UFO\n\nFWB: I3A1\n\n6 August 2019\n\nAlien Metals Ltd(“Alien†or “the Companyâ€)\n\nExploration Update\n\nAlien Metals Limited, the AIM quoted mining exploration and development company, is pleased to announce an exploration update for its wholly owned Donovan 2, Los Campos and San Celso concessions in Zacatecas State, Mexico.\n\nHighlights\n\n\nSampling programmes completed at Donovan 2, Los Campos and San Celso\n\n98 surface samples taken across the three projects\n\nSamples sent to ALS Chemex de Mexico laboratory for analysis\n\n\nDan Smith, Chairman of Alien commented, “Given the increase in the silver price during 2019, the timing for a potential farm-out or joint-venture in respect of the Los Campos and San Celso projects is increasingly attractive. These short sampling programmes enrich and corroborate historic data, ensuring the Company is well-prepared to advance these projects. We will provide an update following receipt of the assay results, likely to be during the course of August.â€\n\nDonovan 2\n\nA ground mapping and sampling programme was commissioned during July 2019 to follow-up on previous work, and in particular as an initial effort to seek evidence to help localise the source of the float sample that returned 0.45 g/t Gold (“Auâ€) from the south western area of the concession coincident with the ground magnetic high in that same location.\n\nThis follow-up sampling work has resulted in 10 samples being taken and submitted to the lab for analysis.\n\nFinalisation of planning for the proposed induced polarity (IP) survey over the central ground magnetic anomaly along with surface sampling indicating this target to hold potential for Volcanic Massive Sulphide (VMS) type mineralisation, as identified in the announcement of 29 April 2019, is in the final stages and this work is intended to be carried out in the near future.\n\nThe results of the samples, together with the ongoing detailed review of historic data will inform the next phase of exploration at Donovan 2.\n\nThe locations of samples taken at Donovan 2 during July 2019 are set out here:\n\nhttp://www.alienmetals.uk/assets/img/190806_figure1.jpg\n\nLos Campos\n\nPrevious exploration activity at Los Campos highlighted the high-grade silver potential of the Los Campos project, which features a historic mine ...