Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced that its wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd (IOCA) has completed initial investigations into the potential for Direct Ship Ore (DSO) at tenement E47/5001, the Mallina Tenement, which adjoins the existing Hancock Project.
Highlights
· Historic high grade rock chip sample of greater than 60% Fe evidencing the significant potential for exploration upside on the tenement
· The eastern area of the tenement shares a comparable geological setting as the Weeli Wolli (IOCA’s Ridges C and E ore body) iron ore formations
· Areas of the tenement share a comparable geological setting to the Boolgeeda (IOCA’s Sirius Extension Deposit) iron ore formation
· The Hancock Ridge H that has provided rock chip samples of greater than 60% Fe continues into the Mallina Tenement for several kilometres
Troy Whittaker, Alien Metals Chief Executive Officer commented:
“The Mallina acquisition has not only provided security of access from the Company’s flagship Hancock Project site to the Great Northern Highway, but it has also shown it may have the potential to significantly increase the resource footprint of IOCA within the region.
“IOCA now has a total strategic landholding of over 75.6km2 (7565 hectares) at the Hancock Project, situated within one of the preeminent iron ore producing regions of the world and we look forward to continuing to unlock the untapped potential of our landholding for shareholders”.
