Alien Metals Limited – Exploration Update – Gold Found at Donovan 2

Alien Metals Limited – Exploration Update – Gold Found at Donovan 2

Alien 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.

Highlights

  • Donovan 2: Detailed surface mapping and sampling:
    • Further work undertaken at surface to support identification of VMS ore deposit
    • Channel sample assays up to 1.15% Copper (“Cu”) (11,500 parts per million (ppm)) in historic workings
    • Float samples up to 0.45 ppm Gold (“Au”) (0.45 grams per tonne)
    • High-grade mineralisation continued to be discovered in historic workings which are open along strike
    • Further indications of a geological signature of a buried volcanic hosted massive sulphide system at depth
    • Planned ground induced polarisation (IP) geophysical survey to be completed across the main magnetic anomalies to better understand and define the northwest mineralised trend for first phase of drilling
  • Following a review of all the Company’s concessions in Mexico, in addition to Donovan 2, prioritisation for Q3 2019 has been given to:
    • Follow up exploration work at Los Campos and San Celso
    • Planning of detailed surface mapping and sampling in combination with additional underground sampling of historic workings to identify robust drill targets.
    • IP geophysical survey to be completed on the Los Campos concession in conjunction with a surface sampling and mapping program.

Peter Taylor CEO of Alien commented: “The presence of gold at Donovan 2 comes as no surprise given the Minera Frisco El Coronel gold mine is within ten kilometres of the project. With further exploration planned at Los Campos where the project adjoins Endeavour Silver’s El Compas gold mine and at San Celso, the subject of the company’s original AIM listing, Alien is delivering on its strategy of putting money into the ground and increasing confidence in the assets to potential joint venture partners.”

Surface Exploration, Donovan 2

Subsequent to the Company’s announcement on 29 April 2019, Alien‘s geologists have completed additional surface mapping and surface sampling including sampling of shallow historic workings. The samples consisted of channel samples (continuous chip samples across and perpendicular to mineralisation) and float samples. These samples are continuing to provide valuable information to build on geological knowledge and aid in exploration planning.

Highlighted float and channel samples

Sample IDSample TypeCu (ppm)Au (ppm)
6909Float1000.45
6912Channel11,500<0.005
6914Channel10,800<0.005
6916Float12,100<0.005
6917Float16,200<0.005

Alien Metals completed a small gravity survey over the high magnetic and IP results which it reported in its announcement on 18 February 2019. The results of the small-scale gravity survey were inconclusive, with both high and low readings recorded. To expand the target area based on the success of the IP survey discussed in the Company’s announcement April 29th 2019, additional IP work is now planned across the anomalous ground magnetic target. The aim of the IP survey is to better test and define the known extent, dip and strike of the regional north west structure that was identified (RNS 18 February 2019). It should be noted that the general strike of the main magnetic anomaly is coincident with the regional NW/SE trend of the main mineralised regional trend in this belt.

This work will provide more conclusive geological data so that Alien Metals will be able to plan a detailed drill program with maximum confidence to intercept the best generated anomalies with maximum confidence in the drill hole locations, azimuth and dip.

Los Campos and San Celso Concessions

Following a detailed review of all current projects in Mexico, Alien Metals have prioritised additional work at the Los Campos and San Celso Concessions in combination with the planned work at Donovan 2.  This work will include further detailed surface mapping and sampling including sampling of historic workings. On the Los Campos concessions, this work will be combined with an IP geophysical survey. Alien Metals believes there is potential for historic mapped and mined veins to continue at depth below the historic workings.

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