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Alien Metals Ltd ( (GB:UFO) ) just unveiled an announcement.
Alien Metals has reported that joint venture partner West Coast Silver has completed a 76-hole, 1,060m aircore drilling programme at the high-grade Elizabeth Hill Silver Project in the Pilbara, targeting near-mine and regional prospects around the historic silver operation and along the Munni Munni margin. Logging of the aircore drilling identified strong geological indicators analogous to those at the Elizabeth Hill mine, including intense chlorite and silica alteration, carbonate veining and iron oxide staining along key ultramafic–granite contacts at prospects NM2, NM5 and NM6, while a recently finished Phase 2 diamond drilling campaign intersected visible native silver, with assays from both programmes due in early 2026. Prospects NM5 and NM6 have been elevated for priority follow-up work after drilling confirmed favourable geology interpreted to be near-surface expressions of known high-grade zones, positioning Alien’s 30%-owned Elizabeth Hill joint venture for potentially significant resource growth and a more aggressive exploration push in 2026 if upcoming assay results support the encouraging geological observations.
More about Alien Metals Ltd
Alien Metals Ltd is a mining exploration and development company listed on London’s AIM market, with a strategy of advancing and monetising a portfolio of iron ore and precious/base metals projects. Its principal asset is the 90%-owned Hancock Iron Ore Project in Western Australia’s Pilbara region, which hosts a JORC-compliant resource of 8.4Mt at 60% Fe and is being targeted as a 2Mtpa operation over 10 years, supported by road access to Port Hedland. The company also holds interests in the Brockman and Vivash iron ore projects and maintains 30% free-carried stakes in the Munni Munni PGM-gold project and the Elizabeth Hill Silver Project via joint ventures, preserving exposure to historically high-grade precious metal deposits.
Average Trading Volume: 81,503,830
Technical Sentiment Signal: Sell
Current Market Cap: £13.86M
Learn more about UFO stock on TipRanks’ Stock Analysis page.