Alien Metals unveils two robust targets at Donovan 2 site
(AIM:UFO ) has unveiled to investors “highly successful” final results of its induced polarisation survey at the Donovan 2 copper-gold project in Mexico.
The AIM-listed firm said that it has identified two robust drill targets associated with previously outlined geological corridors at the project which is located in a major mining province.
The site lies within 24km of Teck Resources’ San Nicolás VMS deposit and hosts a measured and indicated resource of 108.9Mt with average grades of 1.16% copper and 0.43g/t gold.
A “strong” IP anomaly was identified in the North zone prospect as well as high grade copper float samples of up to 3% copper from the central east anomaly.
Shares in Alien Metals were trading 5.71% higher at 0.0925p during morning trading.
Both robust drill targets will be incorporated into the group’s drilling plan, which is currently being processed, this morning’s statement outlined.
“The incorporation of promising results from IP, Gravity and Magnetic surveys has defined these anomalies,” said Bill Brodie Good, Technical Director of Alien Metals.
A slightly weaker magnetic anomaly, coincident with previous geophysical and rock chip sampling to date was also identified by the group’s geophysical consultants.
“We are very encouraged by the results and are excited to prove up the potential of this project as holding significant mineralisation,” added Brodie Good.
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