Alien Metals Intersects Shallow High-Grade Silver at Elizabeth Hill
Why we think this is neutral
This RNS announcement provides an exploration update on the Elizabeth Hill Silver Project, which does not fall under the mandatory news types specified. While the results of the initial drilling are positive, with high-grade silver mineralization intersected, the announcement does not contain any financial figures or other key investor information that would warrant a stronger sentiment score.
Key Points
- Hole 25WCDD001 intersected 5m at 313g/t Silver (Ag) from 20m and 5m at 2,822g/t Ag from 26m, including 2m at 6,951g/t Ag
- Hole 25WWCDD002 intersected 12m at 153g/t Ag from surface, including 1m at 973g/t Ag
- Silver mineralization starts at surface in both holes
- Drill holes were strategically designed to test high-grade, shallow silver targets
- Half-core samples dispatched to laboratory for assay; results expected in 6-8 weeks
Summary
Alien Metals Limited (AIM: UFO) has announced that its joint venture partner, West Coast Silver Limited, has intersected shallow, high-grade silver mineralization from the first two diamond drill holes at the Elizabeth Hill Silver Project in Western Australia. The highlights include 5m at 2,822g/t silver from 26m, including 2m at 6,951g/t silver. The company states that these initial results are highly encouraging and support the historic production profile of the project.