GCIAlien Metals set to commence drilling at its key Mexican Silver and Gold Targets
Alien Metals (UFO ) is now set to commence drilling on its 100% owned Los Campos and San Celso Silver Projects and the Donovan 2 Copper-Gold Projects in Mexico, following receipt all of the necessary stator and local permits.
Drilling at the San Celso and Los Campos Silver Projects will target the mineralised vein systems previously exploited for their high-grade silver, where head-grades in excess of 1,000 g/t silver were historically reported, whereas drilling at the Donovan 2 Cu-Au Project will target a potentially significant copper zone that has been associated with a previously reported surface anomaly of 3.34% Cu.
Figure 1: Location of Alien’s projects, Mexico.
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San Celso and Los Campos projects
The San Celso and Los Campos projects both contain historic, very high-grade, underground silver mines, dating back more than a century.
Both present the classical high-grade narrow vein epithermal mineralisation associated with the regional mineralised systems of the metallogenic belt that Zacatecas straddles.
A detailed grid drilling programme has been planned for both projects to enable resource calculations in the future while these initial drill programmes will be as originally planned based on initial wide spaced holes within the more detailed grids to identify initial mineralisation thickness, grade and continuation.
This method means the Company can test both projects cost effectively as a first phase, to help next stage planning and targeting depending on the results, rather than only testing one of the two very prospective projects at the outset.
Figure 2: Schematic showing NW trending high-grade silver vein system preliminary drill locations, Los Campos, Zacatecas, Mexico, February 2022
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Figure 3: Schematic showing targeting high-grade silver vein systems preliminary drill locations, San Celso, Zacatecas, Mexico, February 2022
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Donovan 2
The Donovan 2 target is to locate the deep-seated source of the high-grade copper surface samples (up to 3.34% Cu) taken from the Los Alamos well.
The Company feels that this has not been tested sufficiently to date, and is looking forward to being able to fully test this target.
Figure 4: Schematic showing drilling targeting the Los Alamos prospect Copper Target, Donovan 2,
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Alien plans to commence drilling imminently with signature of a drilling contract with a local but highly experienced drilling company, providing a very compact low impact track mounted drilling rig (Figure 5) while its in-country team, led by Jose Luis, prepares to start the programme as soon as possible.
Figure 5: Compact track mounted diamond core drilling machine (MAROOKA TEC 1000-HQ)
A picture containing sky, truck, outdoor, transport
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Munni Munni Project Update
The Company has had to make an extension to the settlement date for the Binding Heads of Agreement with AIM and ASX listed Artemis Resources Limited (AIM/ASX: ARV) (‘ARV’ [FOLLOW]) to acquire its 70% joint venture interest in the Munni Munni Project as per the announcement of the 22 December 2021. This new extension runs until 28 March 2022.
The Company has also extended the Binding Heads of Agreement with ASX listed Platina Resources Ltd, to conditionally acquire Platina’s 30% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia ('Munni Munni Project'). Due to further delays indicated from the authorities in Australia, and with mutual consent from both parties, the settlement date to complete the conditions precedent to the Agreement has been extended to 21 March 2022.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: “We are extremely pleased to have all the statutory and local permits now in place for our three Mexico projects. The in-country team has worked tirelessly in very difficult conditions to get to this point. Subsequently, we are very excited to commence the drilling programmes as soon as possible. I hope to be on site to witness the first drill hole and work with the local team to support a successful programme.
“By combining the three programmes into a single, larger programme, we will reduce the overall costs and complete the programme more quickly. The strong market dynamics for both silver and copper, coupled with the geological potential of these projects, provides Alien shareholders with very strong leverage to any drilling success, so we are keen to get the rods turning and generating results.”
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