Alien Metals Limited - Capstone commences IP Survey at Donovan 2
Alien Metals Ltd
("Alien Metals" or "the Company")
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Capstone commences detailed IP Survey at Donovan 2 Copper-Gold Project
Alien Metals Ltd (Alien Metals or the Company), a minerals exploration and development company, is pleased to announce that since its Earn-in Agreement ("Agreement") with Capstone Mining Corp (Capstone) (TSX: CS) over its Donovan 2 Copper-Gold project (the "Project") in
"The Company is extremely encouraged by the speed of progress by the excellent Capstone technical team to push ahead quickly on exploration of the project. While knowing that Alien had planned to do a maiden drilling program Capstone considered that commissioning a more detailed ground IP survey to compliment historic work done by Alien while awaiting the necessary drill permitting would refine or reaffirm the existing drill targets.
"Capstone is managing the main elements of the program while Alien provide the necessary early stage on the ground support and help as required and we are looking forward to some enhanced results from this work."
"We review many business opportunities every year but very few meet our high criteria. Donovan 2 has the potential to be a high grade, near surface deposit in a world class mining district.
Figure 1: Location of Donovan 2 Project,
The IP survey will be in the order of approximately 25.2 line-kilometers over 15 lines of variable length. The data acquisition is estimated to take around 25 days with follow up data interpretation a further couple of weeks. The IP survey is being carried out by Zonge International of Arizona, USA, who have extensive experience of working in
The work is due to commence imminently, with all necessary access rights for the target area provided.
Drilling is then expected to follow once this work has been completed and fully interpreted.
Figure 2: Planned IP survey lines, Donovan 2, Capstone JV,
Alien are looking forward to the results of this work and which will be reported in due course.
For further information please visit the Company's website at www.alienmetals.uk, or contact:
Alien Metals Limited
St-James' Corporate Services, Company Secretary
First Equity Limited (Joint Broker)
Tel +44 (0)20 7374 2212
Beaumont Cornish Limited (Nomad)
Tel: +44 (0) 207 628 3396
Novum Securities Limited (Joint Broker)
Tel +44 (0)20 7399 9425
Blytheweigh (Financial PR)
Tel: +44 (0) 207 138 3204
Turner Pope Investments (TPI) Limited (Joint Broker)
Tel +44 (0)20 3657 0050
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities.
Alien Metals has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets including two recent acquisitions in 2019. These include the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver projects both located in the Pilbara region,
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects in
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