World news – Alien Metals prematurely drills the first hole in Donovan 2 – Vox Markets

Alien Metals (UFO FOLLOW) has confirmed to investors that drilling has now commenced on the first hole of the first drill program on the Donovan 2 copper gold project in Mexico (Figure 1) funded and managed under the Earn-In Agreement signed last year, began ahead of schedule on February 25, 2021.

The first well, DON21-001, targets previous UFO sampling work in an old water well that included up 3.3% copper was returned, which coincides with a geophysical IP anomaly.

A geophysical survey of the induced polarization (IP) over most of the apartment building was successfully completed by Capstone in December 2020. Final reporting and interpretation has been completed and has commenced this first drill program.

Capstone has an initial drill program of $ 2,500 million as part of its required spending commitment of $ 0.45 million for 2021 planned. The drilling will first test the Los Alomos target in the well area and then the Cerro de la Cruz target in the northwestern area of ​​the apartment building.

Figure 2 below shows preliminary hole positions over a chargeability map 150 m below the surface, which was obtained from the recently generated by Capstone’s IP investigation. Capstone said these holes are now all ready to be drilled with an amended drill permit.

Figure 2: Location of provisional drill holes above chargeability -150 m depth, Donovan 2, February 2021
(Source: Alien Metals) « It’s very exciting that Capstone is drilling the first hole in Donovan 2 in such a short amount of time, » commented Bill Brodie Good, CEO of &, Technical Director of Alien Metals.

Brodie Good said UFO remains « very encouraged » by the results of the latest IP survey, highlighting that the company now has three geophysical targets plus Los Alomos.

« With the highest copper price in over 9 years and with continued demand, this exciting news is very well timed and we are excited to see the results, ”he added to investors.

The Board of Alien said it continues to review a number of mineral projects and opportunities, « With a special focus on exploration projects with short-term news flow and value creation ».

The shares in Alien Metals have increased in value by over 65% since the beginning of October 2020. UFO has now started its drilling program for 2,500 million holes on the Donovan 2 copper gold project in Mexico ahead of schedule as copper prices hit nearly 10%. Year high last week. The company believes the project « can quickly grow into a meaningful entity ». This should result in a positive revaluation of the stocks.

The portfolio of UFO exploration assets includes volcanogenic mineralization in the massive sulphide style (copper, zinc and lead), high quality silver projects in Mexico and a 51% interest in two promising iron ore projects in the Australian region of Pilbara.

The company said its portfolio could be expanded to include other minerals, such as iron ore and lithium, as well as jurisdictions in Africa and Asia where management has proven expertise to develop assets in accordance with international reporting standards.

In recent weeks Ironbark Zinc granted the company an exploration license of 208 km2 for the Lemon-Zinc-Lead Project, a high-value metal project in North Greenland that is considered one of the world’s largest undeveloped zinc-lead projects.

The mineral exploration and development company said the project has a JORC resource of 131.1 million tonnes at 4.5% zinc and lead for 13 billion pounds of zinc and lead metal contained.

The license is valid until December 31, 2023 and continues UFO’s strategy of identifying countercyclical opportunities in prime mining areas with « excellent upside ».
« The Company and its advisors continue to review new projects and have identified an opportunity to secure an exploration site in North Greenland on strike and alongside the world-class undeveloped Lemon-Zinc-Lead Project, » said Bill Brodie Good, CEO.

IBK is convinced that the projects offer an attractive entry into one of the world’s leading silver belts and that they will soon begin marketing to a number of potential investors and project partners.

UFO said it will continue its research and development efforts on the projects while considering funding opportunities for third parties to develop and tear down the projects.

In other recent news, the company recently completed a detailed geological mapping and sampling program for Hamersley’s iron ore projects in Australia. Field observations suggest that two of its potential customers could be part of the same larger system.

The two projects that have shown « great potential » are in Hamersley Province, known as one of the leading iron ore producing regions in the world.

The preliminary hand-held RFA results are consistent with those of the 2019 field program with the stated ranges between 40% and 70% iron.

Alien Metals has now commenced a program of work (« POW ») for pre-drilling filing.

In the meantime, the North American consultancy IBK Capital has started the marketing process for the company’s San Celso and Los Campos silver projects in Mexico.

The process for the silver projects follows the successful earn-in transaction with Capstone Mining announced in early October 2020 for the Donovan 2 copper-gold project by UFO.

Alien Metals has been pursuing an acquisition-driven strategy that was led by a high quality geological team to build a strong portfolio of diversified assets including two recent acquisitions in 2019

These include the high value Brockman and Hancock Ranges iron ore projects and the Elizabeth Hill Silver projects in the Pilbara region of Western Australia.

Alien Metals has not only expanded its portfolio of assets and, following the strategic review of its portfolio of silver and precious metals projects in Mexico, has identified priority exploration targets under its 9 mining concessions, which are being systematically developed.

The company’s silver projects are located in the state of Zacatecas, Mexico’s largest silver producing state, which produced over 190 million ounces of silver in 2018 alone and accounted for 45% of Mexico’s total silver production that year.

The information, investment views, and recommendations in this Articles are for general informational purposes only. Nothing in this article should be construed as an invitation to buy or sell any financial product in relation to any company under discussion, or to enter into or omit any other transaction or to enter into any other transaction. All opinions or comments are given to the best of the author’s knowledge and belief, but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payments from companies named for improved profiling or publication exposure. The writer may or may not own stakes in the companies under discussion.

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