LONDON (ShareCast) - (Sharecast News) - Alien Metals reported further high-grade assay results from the maiden diamond drilling programme at the Elizabeth Hill Silver Project in Western Australia on Friday, including silver grades of up to 10,049 grams per tonne and gold grades of up to 11.1 grams per tonne.
The AIM-traded firm said the project, operated by joint venture partner West Coast Silver with Alien retaining a 30% free-carried interest to a decision to mine, returned strong results from drill hole 25WCDD011, which intersected 17 metres at 858 grams of silver per tonne from five metres, including two metres at 6,349 grams per tonne, and 13 metres at 1,615 grams per tonne from 62 metres, including two metres at 10,049 grams per tonne.

Significant high-grade gold was also encountered, with one metre at 11.1 grams per tonne from 51 metres.

A second hole, 25WCDD012, returned further high-grade silver intercepts, including 6 metres at 317 grams per tonne from 10 metres and 14 metres at 162 grams per tonne from 18 metres.

Results for six of the 12 holes drilled remain pending.

"These results further demonstrate the outstanding grades and near-surface potential at Elizabeth Hill," said Robert Mosig, technical director of Alien Metals.

"Intercepts of up to 10,049 grams per tonne silver and 11.1 grams per tonne gold are exceptional outcomes from the maiden programme and confirm the significant value in the project.

"With Alien's 30%, which is interest-free, carried through to decision to mine, our shareholders retain strong exposure to any success at Elizabeth Hill."

Further assay results were expected over the coming weeks, while investigations were under way into potential processing options using existing nearby facilities.

At 1509 BST, shares in Alien Metals were up 30.96% at 0.18p.

Reporting by Josh White for Sharecast.com.

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