Alien Metals Remains Optimistic for Upcoming Exploration WorksBy Paloma Duran | Fri, 08/05/2022 - 11:22
Alien Metals has provided an update on its Mexican projects San Celso and Donovan 2 in Zacatecas. The company announced that local stakeholders have rebuffed the company's drilling proposal in a priority area. Therefore, no further exploration work will take place until the issue is resolved.
Alien Metals received laboratory test results for its drilling program at San Celso and Donovan 2. The program consistedof 7 holes drilled for a total of 611m: 3 holes totalling 201m at San Celso and 4 holes totalling 410m at Donovan 2. The results showed no significant intersections at San Celso. However, at Donovan, DONDD-A03 "returned 0.33 percent copper with less associated lead and zinc from a depth of 9.43m to 11.3m."
The company noted that these results were below the industry standard, with yields of between 15 and 20 percent in priority areas. However, the company said it is optimistic as mineralization has been previously identified at Donovan .
In addition, although the drilling campaign did not make any significant discoveries at Donovan 2, it did identify a zone of anomalous zinc, which connects to 2021 results. The company noted that this discovery may indicate there is mineralization near a higher grade deposit. As a result, Alien Metals is currently analyzing all available data on the project to decide its next steps.
Alien Metals also emphasized that local stakeholders have told the company that they will not allow further drilling in the central license at San Celso, which was the company's main target area in upcoming drill programs. Consequently, the company announced that no further work will be carried out until its access and continuity are assured.
“While we are highly disappointed with the news from San Celso as we have not secured access to advance the project as previously planned, we are encouraged by the anomalous results from the Donovan 2 assays, even though they lack any single assays that investors may deem ‘economic’. Geologically, enough indicators are present for us to remain optimistic and they may provide vectors to a potentially larger zone of mineralisation. While we will continue to review the next phase of activity for these projects, the Company will continue to push forward with the Hancock Iron Ore Project and the Munni Munni Complex in Western Australia,” said Bill Brodie Good, CEO and Technical Director, Alien Metals.
In addition, Alien Metals previously told MBN it continues to evaluate and pursue other opportunities in the mining sector as it continues to work toward its goal of acquiring low-cost projects and develop high-quality assets.