Business
Proposed Acquisition of highly-prospective license
Proposed Acquisition of highly-prospective license.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 6911A\n Alien Metals Limited\n 01 October 2020\n \n \n \n \n \n Trading Symbols\n \n \n AIM: UFO\n \n \n FWB: I3A1\n \n \n \n \n \n 01 October 2020\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 Link to full announcement including figures: \n http://www.rns-pdf.londonstockexchange.com/rns/6911A_1-2020-9-30.pdf\n \n \n \n \n \n \n \n \n Proposed Acquisition of highly-prospective license application surrounding Elizabeth Hill Silver Project\n \n \n and Munni Munni PGE deposit\n \n \n \n \n \n \n Alien Metals Ltd (LSE AIM:UFO) (\"Alien Metals\" or \"the Company\"), a minerals exploration and development company, is pleased to announce that it has agreed to acquire, subject to granting and ministerial consent, 117km2 of tenure adjacent to and surrounding the Company's Elizabeth Hill Silver Project in Western Australia along with associated historic technical data (the \"Transaction\"). The tenement ELA 47/4422 includes a range of precious and base metal prospects identified by previous operators. \n \n \n \n \n \n \n Highlights\n \n :\n \n \n - \n ELA 47/4422 includes priority prospects within 10km of the Company's Elizabeth Hill Silver Project, including:\n \n \n o \n \n Sunchaser\n \n : Located 5km west of the hundo copper mine and consisting of two Electro-Magnetic (EM) conductors. Previous Reverse Circulation (RC) drilling reportedly returned 6.1m @ 3.1% zinc from 28.4m depth. \n \n \n o \n \n Conquest\n \n : Copper-zinc-lead occurrences have been located on the surface in the immediate vicinity of two modelled EM conductors. Previous RC drilling returned 25m @ 0.52% copper from 144m depth.\n \n \n o \n \n Carver\n \n : Situated along the Maitland intrusion (which controls mineralisation at Sunchaser and Conquest), the prospect covers an area that appears to be a major conduit for fluids, identical to the structural setting proposed for the intrusion of the Radio Hill Layered Complex to the north west.\n \n \n o \n \n Munni Munni East\n \n : south of Elizabeth Hill, situated alongside the Munni Munni fault and host to mineralised gossans.\n \n \n - \n License includes southern extension of highly prospective fault structures, including the Munn...