Alien Metals Limited

Earnings Release • Aug 11, 2021

National Storage Mechanism | Additional information

RNS Number : 1959I

Alien Metals Limited

11 August 2021

Trading Symbols

AIM: UFO

FWB: I3A1

11 August 2021

Alien Metals Ltd

("Alien" or "the Company")

Hancock Iron Ore Project firming up as standalone DSO operation

Follow the link to view the announcement in full including all figures: http://www.rns-pdf.londonstockexchange.com/rns/1959I_1-2021-8-10.pdf

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to update the market on the Hancock Iron Ore Project in the Pilbara region of Western Australia.

Highlights

·    Initial Assay results from the second phase of Reverse Circulation (RC) resource drilling have demonstrated significant widths of direct shipping ore (DSO) grade intersections from surface at the Sirius Extension Project

·    All intersections from the Sirius Extension Project clearly point to a contiguous DSO grade deposit with best initial results from the second phase drill program including:

o  47m @ 61.50 % Fe in hole AM21RC002 001 from 2m           

o  78m @ 61.20 % Fe in hole AM21RC002 002 from 1m           

o  25m @ 61.50 % Fe in hole AM21RC002 003 from surface           

o  88m @ 60.60 % Fe in hole AM21RC002 004 from 1m           

o  29m @ 59.60 % Fe in hole AM21RC002 005 from 12m                

o  19m @ 59.30 % Fe in hole AM21RC002 006 from 15m

o  68m @ 58.50 % Fe in hole AM21RC002 007 from 11m              

·    With the continued strong results from the Sirius Extension Project, maiden resource estimation work and mining studies have commenced with initial results anticipated in the September quarter

·    Further drilling at the Western Ridges Project is being planned as a third phase program; management's expectation is that this will deliver a zone to contain a potential second resource

The second phase of drilling was designed to in-fill the maiden drilling at the Sirius Extension Project. We are now confident that the current drill spacing is sufficient to enable the delineation of a maiden JORC resource to be calculated. The laboratory results received to date have further confirmed the excellent potential of the Sirius prospect.

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:

"Our Hancock Iron Ore Project is shaping up to be a significant development opportunity for Alien. We have now defined DSO grade iron ore over a strike length of 350 metres at the Sirius Extension Prospect alone and we now have nearly all the data to calculate a maiden JORC resource at Sirius."

"In parallel to this work the Company has already engaged specialisist mining consultants, Mining Plus, to deliver a high level scoping study for the Sirius Extension prospect. Mining Plus has extensive experience with similar DSO grade projects that have recently transitioned from explorer to producer in Western Australia; this provides valuable data as a benchmark for Alien and will provide robustness to the financial model, even at this preliminary stage. Alien is highly encouraged by the early review work and looks forward to providing an update in due course."

"In addition to the Sirius Extension prosect and the yet to be resource drilled Western Ridges, significant potential still remains at Hancock, with only 15% of the tenement tested to date."

John Battista, Principal Mining Consultant, Mining Plus, commented:

"Based on our conceptual study-level work to date, the Hancock project has the potential to be developed into a niche direct-shipping iron ore producer in the heart of the world-famous Pilbara region of Western Australia."

Figure 1: Location of Hancock Iron Ore Project, Western Australia

Figure 2: Summary drilling results to date, Sirius Extension, Hancock Tenement, August 2021

Figure 3: Section AM21L03, Sirius Extension, August 2021

Alien used the industry standard of inserting 5% Certified Reference Material (CRM) samples and 5% duplicate samples at source. The CRMs are sourced from Geostats Pty Ltd, Perth, WA, a global leader in the manufacture and sale of CRMs. All samples generated were dispatched to Intertek Genalysis at Maddington, Perth, WA, and analysed for their Standard Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis and laboratory used in all Alien's analysis work on these projects to date to maintain consistency and comparability between all analyses.

The Company notes that we are still waiting on the laboratory results of 3 holes from the Sirius Extension Prospect phase 2 drilling as well as all the Western Ridge prospect holes and are hoping to receive these in the coming couple of weeks.

Figure 4 below shows the Company's untested target ridges outline for the remainder of the Hancock tenement and plans are already afoot to start testing these targets as well.

Figure 4: Target areas for further ground reconnaissance, Hancock Tenement, Hamersley Iron Ore Project, August 2021

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

(via St-James' Corporate Services, Company Secretary)

Tel: +44 20 7796 8644

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

Turner Pope Investments (TPI) Limited (Broker)

Andrew Thacker / James Pope

Tel: +44 (0) 20 3657 0050

Yellow Jersey PR (Financial PR)

Sarah Hollins / Joe Burgess / Matthew McHale

[email protected]

Tel: +44 (0) 20 3004 9512

Notes to Editors

Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.

In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and increased its holding to 90% in May 2021 while in 2020 acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.

The Company also holds two silver projects, San Celso and Los Santos, located in Zacatecas State, Mexico's largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company holds a Copper Gold project in the same region, Donovan 2.

The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.

In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically.

Qualified Person

The information in this report which relates to Exploration Targets, Exploration Results and Mineral Resources or Ore Reserves is based on information compiled by Mr. Allen Maynard, who is a Member of the Australian Institute of Geosciences ("AIG"), a Corporate Member of the Australasian Institute of Mining & Metallurgy ("AusIMM") and independent consultant to the Company. Mr. Maynard is the Director and principal geologist of Al Maynard & Associates Pty Ltd and has over 40 continuous years of exploration and mining experience in a variety of mineral deposit styles. Mr. Maynard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves" (JORC Code). Mr. Maynard consents to inclusion in the report of the matters based on this information in the form and context in which it appears.

Glossary:

Reverse Circulation Drilling - Often referred to as RC drilling, is a method of drilling which uses dual wall drill rods that consist of an outer drill rod with an inner tube. These hollow inner tubes allow the drill cuttings to be transported back to the surface in a continuous, steady flow. Drill results using this method with adequate QA/QC can be used in Mineral Resource Calculations

DSO - Direct Shipping Ore

XRF - X-ray fluorescence, used for elemental analysis and chemical analysis, particularly in the investigation of metals in the resource industry.

QA/QC - Quality Assurance/Quality Control - This is the combination of quality assurance, the process or set of processes used to measure and assure the quality of a product, and quality control, the process of ensuring products and services meet consumer expectations. In this case an independent verification of the laboratory analysis result.

Fe - Iron

Al - Aluminium

Ca - Calcium

K - Potassium

Mg - Magnesium

Mn - Manganese

Na - Sodium

P - Potassium

S - Sulphur

Si - Silica

Appendix 1

Table 1: Summary interim results 2nd Drilling phase, Sirius Extension, Hancock Tenement, Hamersley Iron Ore Project, August 2021

Hole Nbr	From (m)	To (m)	Fe %
AM21RC002_001	2	3	57.48
AM21RC002_001	3	4	59.02
AM21RC002_001	4	5	54.8
AM21RC002_001	5	6	56.88
AM21RC002_001	6	7	61.42
AM21RC002_001	7	8	60.87
AM21RC002_001	8	9	61.43
AM21RC002_001	9	10	61.55
AM21RC002_001	10	11	62.09
AM21RC002_001	11	12	57.28
AM21RC002_001	12	13	58.25
AM21RC002_001	13	14	57.59
AM21RC002_001	14	15	57.32
AM21RC002_001	15	16	59.49
AM21RC002_001	16	17	61.69
AM21RC002_001	17	18	61.73
AM21RC002_001	18	19	63.07
AM21RC002_001	19	20	62.9
AM21RC002_001	20	21	63.77
AM21RC002_001	21	22	63.76
AM21RC002_001	22	23	63.49
AM21RC002_001	23	24	62.98
AM21RC002_001	24	25	63.4
AM21RC002_001	25	26	63.76
AM21RC002_001	26	27	63.34
AM21RC002_001	27	28	63.07
AM21RC002_001	28	29	63.84
AM21RC002_001	29	30	63.65
AM21RC002_001	30	31	63.85
AM21RC002_001	31	32	63.86
AM21RC002_001	32	33	63.24
AM21RC002_001	33	34	63.37
AM21RC002_001	34	35	63.15
AM21RC002_001	35	36	63.17
AM21RC002_001	36	37	62.89
AM21RC002_001	37	38	62.62
AM21RC002_001	38	39	63.14
AM21RC002_001	39	40	63.08
AM21RC002_001	40	41	62.93
AM21RC002_001	41	42	62.96
AM21RC002_001	42	43	62.35
AM21RC002_001	43	44	61.5
AM21RC002_001	44	45	61.58
AM21RC002_001	45	46	61.57
AM21RC002_001	46	47	61.62
AM21RC002_001	47	48	59.96
AM21RC002_001	48	49	54.77
AM21RC002_002	1	2	60.94
AM21RC002_002	2	3	63.4
AM21RC002_002	3	4	59.17
AM21RC002_002	4	5	60.5
AM21RC002_002	5	6	61.21
AM21RC002_002	6	7	57.71
AM21RC002_002	7	8	59.06
AM21RC002_002	8	9	61.5
AM21RC002_002	9	10	61.98
AM21RC002_002	10	11	62.76
AM21RC002_002	11	12	61.7
AM21RC002_002	12	13	58.89
AM21RC002_002	13	14	57.19
AM21RC002_002	14	15	58.95
AM21RC002_002	15	16	55.41
AM21RC002_002	16	17	56.34
AM21RC002_002	17	18	47.7
AM21RC002_002	18	19	62.39
AM21RC002_002	19	20	63.15
AM21RC002_002	20	21	61.44
AM21RC002_002	21	22	61.31
AM21RC002_002	22	23	59.8
AM21RC002_002	23	24	62.51
AM21RC002_002	24	25	62.39
AM21RC002_002	25	26	61.11
AM21RC002_002	26	27	62.53
AM21RC002_002	27	28	61.8
AM21RC002_002	28	29	59.26
AM21RC002_002	29	30	61.46
AM21RC002_002	30	31	60.26
AM21RC002_002	31	32	60.8
AM21RC002_002	32	33	61.19
AM21RC002_002	33	34	61.24
AM21RC002_002	34	35	61.48
AM21RC002_002	35	36	61.88
AM21RC002_002	36	37	62.06
AM21RC002_002	37	38	61.81
AM21RC002_002	38	39	62.25
AM21RC002_002	39	40	61.51
AM21RC002_002	40	41	60.89
AM21RC002_002	41	42	60.79
AM21RC002_002	42	43	55.69
AM21RC002_002	43	44	59.66
AM21RC002_002	44	45	60.54
AM21RC002_002	45	46	60.83
AM21RC002_002	46	47	59.73
AM21RC002_002	47	48	59.71
AM21RC002_002	48	49	60.03
AM21RC002_002	49	50	59.21
AM21RC002_002	50	51	60.22
AM21RC002_002	51	52	60.05
AM21RC002_002	52	53	60.16
AM21RC002_002	53	54	59.24
AM21RC002_002	54	55	59.48
AM21RC002_002	55	56	59.5
AM21RC002_002	56	57	59.75
AM21RC002_002	57	58	59.96
AM21RC002_002	58	59	60.43
AM21RC002_002	59	60	60.74
AM21RC002_002	60	61	60.77
AM21RC002_002	61	62	60.31
AM21RC002_002	62	63	58.59
AM21RC002_002	63	64	59.14
AM21RC002_002	64	65	60.09
AM21RC002_002	65	66	59.35
AM21RC002_002	66	67	59.27
AM21RC002_002	67	68	59.73
AM21RC002_002	68	69	59.88
AM21RC002_002	69	70	59.32
AM21RC002_002	70	71	60.1
AM21RC002_002	71	72	60.02
AM21RC002_002	72	73	59.97
AM21RC002_002	73	74	60.2
AM21RC002_002	74	75	60.34
AM21RC002_002	75	76	60.25
AM21RC002_002	76	77	60.75
AM21RC002_002	77	78	60.11
AM21RC002_002	78	79	60.2
AM21RC002_003	0	1	61.2
AM21RC002_003	1	2	50.81
AM21RC002_003	2	3	61.19
AM21RC002_003	3	4	62.68
AM21RC002_003	4	5	54.13
AM21RC002_003	5	6	55.64
AM21RC002_003	6	7	62.18
AM21RC002_003	7	8	62.12
AM21RC002_003	8	9	59.02
AM21RC002_003	9	10	60.93
AM21RC002_003	10	11	62.27
AM21RC002_003	11	12	64.19
AM21RC002_003	12	13	60.07
AM21RC002_003	13	14	58.82
AM21RC002_003	14	15	64.42
AM21RC002_003	15	16	64.49
AM21RC002_003	16	17	65.7
AM21RC002_003	17	18	64.95
AM21RC002_003	18	19	64.79
AM21RC002_003	19	20	64.92
AM21RC002_003	20	21	65.11
AM21RC002_003	21	22	61.84
AM21RC002_003	22	23	63.3
AM21RC002_003	23	24	62.45
AM21RC002_003	24	25	59.96
AM21RC002_004	1	2	50.55
AM21RC002_004	2	3	55.69
AM21RC002_004	3	4	61.63
AM21RC002_004	4	5	57.97
AM21RC002_004	5	6	56.9
AM21RC002_004	6	7	60.86
AM21RC002_004	7	8	60.35
AM21RC002_004	8	9	60.01
AM21RC002_004	9	10	61.58
AM21RC002_004	10	11	60.44
AM21RC002_004	11	12	60.97
AM21RC002_004	12	13	61.77
AM21RC002_004	13	14	61.67
AM21RC002_004	14	15	62.98
AM21RC002_004	15	16	62.05
AM21RC002_004	16	17	61.63
AM21RC002_004	17	18	61.71
AM21RC002_004	18	19	62.12
AM21RC002_004	19	20	60.88
AM21RC002_004	20	21	56.04
AM21RC002_004	21	22	60.99
AM21RC002_004	22	23	58.62
AM21RC002_004	23	24	56.91
AM21RC002_004	24	25	59.42
AM21RC002_004	25	26	57.88
AM21RC002_004	26	27	57.91
AM21RC002_004	27	28	57.98
AM21RC002_004	28	29	58.61
AM21RC002_004	29	30	58.85
AM21RC002_004	30	31	58.62
AM21RC002_004	31	32	58.19
AM21RC002_004	32	33	58.3
AM21RC002_004	33	34	58.35
AM21RC002_004	34	35	59.44
AM21RC002_004	35	36	58.56
AM21RC002_004	36	37	60.4
AM21RC002_004	37	38	59.67
AM21RC002_004	38	39	59.75
AM21RC002_004	39	40	62.5
AM21RC002_004	40	41	63.12
AM21RC002_004	41	42	54.91
AM21RC002_004	42	43	59.69
AM21RC002_004	43	44	61.36
AM21RC002_004	44	45	62.02
AM21RC002_004	45	46	61.51
AM21RC002_004	46	47	61.79
AM21RC002_004	47	48	61.2
AM21RC002_004	48	49	60.5
AM21RC002_004	49	50	62.99
AM21RC002_004	50	51	63.62
AM21RC002_004	51	52	63.61
AM21RC002_004	52	53	62.99
AM21RC002_004	53	54	61.95
AM21RC002_004	54	55	61.82
AM21RC002_004	55	56	61.01
AM21RC002_004	56	57	62.33
AM21RC002_004	57	58	60.21
AM21RC002_004	58	59	61.85
AM21RC002_004	59	60	61.31
AM21RC002_004	60	61	61.66
AM21RC002_004	61	62	61.52
AM21RC002_004	62	63	62.13
AM21RC002_004	63	64	62.08
AM21RC002_004	64	65	62.18
AM21RC002_004	65	66	61.35
AM21RC002_004	66	67	61.63
AM21RC002_004	67	68	60.67
AM21RC002_004	68	69	60.02
AM21RC002_004	69	70	61.15
AM21RC002_004	70	71	61.61
AM21RC002_004	71	72	61.6
AM21RC002_004	72	73	62.22
AM21RC002_004	73	74	62.76
AM21RC002_004	74	75	62.22
AM21RC002_004	75	76	64.04
AM21RC002_004	76	77	62.93
AM21RC002_004	77	78	62.64
AM21RC002_004	78	79	62.31
AM21RC002_004	79	80	62.42
AM21RC002_004	80	81	62.88
AM21RC002_004	81	82	63
AM21RC002_004	82	83	63.62
AM21RC002_004	83	84	63.6
AM21RC002_004	84	85	63.05
AM21RC002_004	85	86	60.3
AM21RC002_004	86	87	57.62
AM21RC002_004	87	88	57.34
AM21RC002_004	88	89	54.73
AM21RC002_005	12	13	59.85
AM21RC002_005	13	14	61.9
AM21RC002_005	14	15	59.28
AM21RC002_005	15	16	54.91
AM21RC002_005	16	17	52.13
AM21RC002_005	17	18	62.48
AM21RC002_005	18	19	61.08
AM21RC002_005	19	20	61.91
AM21RC002_005	20	21	61.65
AM21RC002_005	21	22	62.23
AM21RC002_005	22	23	59.69
AM21RC002_005	23	24	43.89
AM21RC002_005	24	25	57.79
AM21RC002_005	25	26	58.92
AM21RC002_005	26	27	61.3
AM21RC002_005	27	28	61.01
AM21RC002_005	28	29	64.25
AM21RC002_005	29	30	63.62
AM21RC002_005	30	31	62.69
AM21RC002_005	31	32	63.95
AM21RC002_005	32	33	59.61
AM21RC002_005	33	34	60.68
AM21RC002_005	34	35	62.76
AM21RC002_005	35	36	60.68
AM21RC002_005	36	37	52.7
AM21RC002_005	37	38	53.18
AM21RC002_005	38	39	60.17
AM21RC002_005	39	40	60.85
AM21RC002_005	40	41	62.94
AM21RC002_006	15	16	60.9
AM21RC002_006	16	17	58.96
AM21RC002_006	17	18	56.4
AM21RC002_006	18	19	54.38
AM21RC002_006	19	20	58.89
AM21RC002_006	20	21	60.35
AM21RC002_006	21	22	47.84
AM21RC002_006	22	23	57.72
AM21RC002_006	23	24	61.82
AM21RC002_006	24	25	63.32
AM21RC002_006	25	26	64.09
AM21RC002_006	26	27	62.7
AM21RC002_006	27	28	64.2
AM21RC002_006	28	29	62.05
AM21RC002_006	29	30	60.53
AM21RC002_006	30	31	46.56
AM21RC002_006	31	32	61.01
AM21RC002_006	32	33	63.19
AM21RC002_006	33	34	61.55
AM21RC002_007	11	12	59.78
AM21RC002_007	12	13	58.71
AM21RC002_007	13	14	61.23
AM21RC002_007	14	15	62.49
AM21RC002_007	15	16	61.47
AM21RC002_007	16	17	61.53
AM21RC002_007	17	18	58.39
AM21RC002_007	18	19	60.32
AM21RC002_007	19	20	62.74
AM21RC002_007	20	21	61.93
AM21RC002_007	21	22	59.43
AM21RC002_007	22	23	62.68
AM21RC002_007	23	24	58.84
AM21RC002_007	24	25	62.53
AM21RC002_007	25	26	60.39
AM21RC002_007	26	27	59.77
AM21RC002_007	27	28	59.53
AM21RC002_007	28	29	58.47
AM21RC002_007	29	30	56.08
AM21RC002_007	30	31	60.12
AM21RC002_007	31	32	59.07
AM21RC002_007	32	33	57.23
AM21RC002_007	33	34	51.74
AM21RC002_007	34	35	56.51
AM21RC002_007	35	36	58.17
AM21RC002_007	36	37	57.21
AM21RC002_007	37	38	57.58
AM21RC002_007	38	39	55.71
AM21RC002_007	39	40	54.63
AM21RC002_007	40	41	56.79
AM21RC002_007	41	42	58.91
AM21RC002_007	42	43	56.19
AM21RC002_007	43	44	60.25
AM21RC002_007	44	45	59.21
AM21RC002_007	45	46	57.77
AM21RC002_007	46	47	59
AM21RC002_007	47	48	56.05
AM21RC002_007	48	49	58.08
AM21RC002_007	49	50	57.17
AM21RC002_007	50	51	55.19
AM21RC002_007	51	52	53.65
AM21RC002_007	52	53	55.94
AM21RC002_007	53	54	57.32
AM21RC002_007	54	55	56.13
AM21RC002_007	55	56	55.91
AM21RC002_007	56	57	56.62
AM21RC002_007	57	58	58.1
AM21RC002_007	58	59	58.37
AM21RC002_007	59	60	52.48
AM21RC002_007	60	61	55.21
AM21RC002_007	61	62	58.13
AM21RC002_007	62	63	58.35
AM21RC002_007	63	64	58.38
AM21RC002_007	64	65	57.74
AM21RC002_007	65	66	58.25
AM21RC002_007	66	67	60.42
AM21RC002_007	67	68	61.29
AM21RC002_007	68	69	62.56
AM21RC002_007	69	70	63.18
AM21RC002_007	70	71	63.17
AM21RC002_007	71	72	58.6
AM21RC002_007	72	73	54.84
AM21RC002_007	73	74	59.03
AM21RC002_007	74	75	57.78
AM21RC002_007	75	76	60.84
AM21RC002_007	76	77	60.74
AM21RC002_007	77	78	59.71
AM21RC002_007	78	79	57.88

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