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PERTH - Alien Metals Limited (AIM:UFO), a company specializing in mineral exploration and development, has secured two new Exploration Leases adjacent to its Hancock Iron Ore Project in Western Australia. The addition of these leases, E47/5157 and E47/5158, expands the company’s exploration territory by over 50%, from 41.0 square kilometers to 63.0 square kilometers.
The new leases were granted without any Native Title objections and are contiguous with Alien Metal’s current Mining and Exploration Leases. The company is preparing to send a geological team to the site for a rock chip sampling and assay program, aiming to enhance exploration targets and inform a forthcoming drilling program.
Christopher Maiolo, General Manager Project Development at Alien Metals, expressed optimism about the potential of the new leases, stating, "The high prospectivity of these two leases should not be underestimated." He added that the leases represent a strategic growth opportunity for the Hancock Project.
Additionally, Alien Metals is in the process of finalizing an Access Deed with BHP Group (NYSE:BHP) Limited, which is expected to facilitate the issuance of another Exploration Lease, E47/5159, further consolidating the company’s presence in the region.
The Hancock Iron Ore Project is a key asset for Alien Metals, with a JORC-compliant resource of 8.4 million tonnes of iron ore at an average grade of 60% Fe. The project is positioned to capitalize on its proximity to the Great Northern Highway, offering a direct route to Port Hedland’s export facilities, which handle a significant portion of the world’s iron ore shipments.
This expansion comes as part of Alien Metals’ broader strategy to grow its mining operations in the Pilbara region, which includes the Hancock, Brockman, and Vivash iron ore exploration projects, as well as interests in the Munni Munni PGM deposit and the Elizabeth Hill Silver Project.
The information reported here is based on a press release statement from Alien Metals Limited.
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