Significant Silver Assays at Elizabeth Hill

In brief · summary, not quotable

Joint venture partner reports silver assays up to 490 g/t from Elizabeth Hill Project sampling in Western Australia.

Silver assay result 490 g/t Ag
Gold in samples up to 0.19 g/t Au
Copper in samples up to 0.42% Cu
Rock chip samples collected 115
Silver-rich float samples extent ~500m north and ~200m south of historic mine

Full announcement

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Significant Silver Assays from Fieldwork at Elizabeth Hill Project

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to report that its joint venture partner, West Coast Silver Limited (ASX: WCE) (formerly Errawarra Resources Limited), has announced significant assay results from recent float and rock chip sampling at the Elizabeth Hill Silver Project ("Elizabeth Hill" or the "Project") in the Pilbara region of Western Australia. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by WCE.

Highlights:

Silver assays of up to 490 g/t Ag returned from float and rock chip sampling.
Multiple samples returned elevated copper (up to 0.42% Cu) and gold (up to 0.19 g/t Au).
Silver-rich float samples have been identified up to ~500m north and ~200m south of the historic Elizabeth Hill high-grade silver mine, indicating potential for new mineralised zones.
Follow-up trenching and sampling works have commenced on site.
A comprehensive near-mine and regional exploration targeting study is nearing completion.

Robert Mosig, Technical Director, commented:

"These latest assay results continue to validate the outstanding exploration potential at Elizabeth Hill. The scale and tenor of the silver mineralisation identified in areas away from the historic mine suggest the possibility of multiple new mineralised systems within the broader project area. With trenching now underway and a follow-up drill programme in planning, we are excited to see this momentum continue as our joint venture partner advances the project."

The sampling program involved the collection of 115 rock chip samples, with assay results confirming anomalous silver, copper, and gold mineralisation in areas both north and south of the historic Elizabeth Hill high-grade silver mine. Notable assay results from the complete results, which are detailed in Appendix A of the announcement include:

25EW06-062: 490 g/t Ag, 0.03 g/t Au, 0.17% Cu
25EW06-057: 316 g/t Ag, 0.19 g/t Au, 0.11% Cu
25EW06-063: 276 g/t Ag, 0.13 g/t Au, 0.14% Cu
25EW06-025: 179 g/t Ag, 0.42% Cu
25EW06-064: 178 g/t Ag, 0.06% Cu

Figure 1 - Location of float sample assay results north and south of the historic Elizabeth high grade silver mine

These significant assay results-up to 490 g/t Ag, 0.19 g/t Au, and 0.42% Cu-occur in two key areas relative to the historic high-grade silver mine. A cluster of samples grading >100 g/t Ag are located over an area 200-500m north of the mine, while an isolated sample (170 g/t Ag) lies ~200 m to the south. The results suggest potential for additional new mineralised source areas and are possibly related to the north-south trending Munni Munni fault system.

Upcoming Works

Following on from the completion of its inaugural drilling campaign and building on its significant results, including 21 metres at 1,047g/t Ag from 10 metres in 25WCDD001, West Coast Silver has now commenced a systematic approach to further exploring Elizabeth Hill and the surrounding areas.

This includes:

Trenching, mapping, and additional rock chip sampling, which has already commenced at site;
Completion of near mine and regional targeting works, including prioritisation of targets (estimated completion 3-4 weeks); and
Development of follow-on drill campaigns to the inaugural campaign, including consideration for air core, reverse circulation and additional diamond drilling.

Elizabeth Hill Silver Project Overview

Previous mining operation ceased abruptly in 2000 because of low silver prices (US$5/oz)[2] and a dispute between previous joint venture parties

Figure 2 - Tenement Location

Lithium Joint Venture Update

West Coast Silver has advised that it has terminated its lithium joint venture with Alien Metals at Pinderi Hills to focus on its core silver exploration strategy. Alien retains 100% ownership of the lithium-prospective ground.

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Robert Collins Tel: +44 (0) 207 409 3494

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell Tel +44 (0) 203 829 5000

Turner Pope (Joint Broker)

Andy Thacker / James Pope

CMC Markets (Joint Broker)

Douglas Crippen

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay Tel: +44 (0) 203 004 9512

Appendix A - Rock Chip/Float assay results

Sample_No	Easting	Northing	Sample Type	Ag ppm	Pb ppm	Cu ppm	Zn ppm	Au ppm
25EW03-001	487575	7669754	Float	0.11	153	54.8	182	0.005
25EW03-002	487569	7669767	Outcrop	0.05	31	29.8	49	0.005
25EW03-003	487558	7666615	Float	0.04	0.9	49.1	63	0.01
25EW03-004	487560	7666660	Subcrop	3.37	7.7	32500	230	0.01
25EW03-005	482763	7662997	Subcrop	0.08	1.7	330	43	0.005
25EW03-006	482729	7663103	Outcrop	0.18	3.9	316	46	0.005
25EW03-009	482802	7661802	Outcrop	0.22	2.2	136	52	0.01
25EW03-010	481300	7662500	Float	0.04	1	7.3	1	0.005
25EW03-011	482296	7663790	Outcrop	0.06	2.2	117.5	47	0.01
25EW03-012	482212	7663598	Outcrop	0.21	4.4	381	35	0.02
25EW03-013	482467	7664114	Float	0.28	3.7	448	47	0.005
25EW03-014	482148	7663888	Float	2.61	0.25	290	5	0.005
25EW03-015	482222	7663200	Float	0.02	0.5	15.5	8	0.005
25EW03-016	482105	7663416	Float	0.03	0.25	18.4	7	0.005
25EW03-017	482220	7662899	Outcrop	0.09	6.5	162.5	40	0.01
25EW03-018	482972	7662401	Outcrop	0.09	26.3	192	53	0.01
25EW03-019	483903	7662098	Outcrop	0.15	2.6	325	104	0.005
25EW03-020	483900	7662181	Outcrop	0.11	5.7	197.5	35	0.02
25EW03-021	485297	7662397	Outcrop	0.12	5.4	141	37	0.03
25EW03-022	484317	7662211	Outcrop	0.01	1	27.9	24	0.02
25EW03-023	484286	7662896	Outcrop	0.01	0.5	5.8	8	0.005
25EW03-024	483401	7662702	Float	0.1	13.4	10.8	4	0.005
25EW03-025	483487	7662369	Outcrop	0.02	1.1	62	31	0.02
25EW03-026	484097	7663109	Outcrop	0.07	1.8	82.1	94	0.005
25EW03-027	483283	7661867	Outcrop	0.48	4.5	410	216	0.005
25EW03-028	483286	7661845	Outcrop	0.2	1.9	451	118	0.005
25EW03-029	483286	7661981	Outcrop	0.02	8	19.6	9	0.005
25EW03-030	483330	7661909	Outcrop	0.08	13.1	28.7	35	0.01
25EW03-031	485800	7663556	Outcrop	0.12	7.9	236	66	0.01
25EW03-032	485723	7663873	Outcrop	0.05	2.9	86.4	39	0.02
25EW03-033	486038	7663878	Outcrop	0.15	3.6	210	67	0.005
25EW03-034	487558	7664918	Outcrop	0.12	94.3	7.8	125	0.005
25EW03-035	486086	7664230	Outcrop	0.27	4.5	539	30	0.005
25EW03-036	485760	7664359	Outcrop	0.05	3.4	112	73	0.01
25EW03-037	485767	7664697	Outcrop	0.11	9	172.5	34	0.01
25EW03-038	485562	7664762	Outcrop	0.04	11.8	16.9	93	0.01
25EW03-039	486123	7664126	Outcrop	0.69	2.9	1160	80	0.005
25EW03-040	486133	7664281	Float	4.67	8.1	11700	79	0.04
25EW03-041	487897	7666674	Outcrop	0.02	0.6	14.6	5	0.02
25EW03-042	486529	7667805	Outcrop	0.02	8.4	5.2	2	0.02
25EW03-043	486596	7667719	Float	0.11	19.5	36.1	14	0.01
25EW03-044	487697	7669402	Float	2.94	10	1425	1715	0.01
25EW03-045	487715	7671069	Outcrop	0.03	1.1	45.8	2	0.13
25EW03-046	487717	7671059	Outcrop	0.01	0.5	3.5	5	0.01
25EW03-047	487880	7670438	Outcrop	0.02	0.9	229	61	0.005
25EW03-048	487862	7670682	Outcrop	0.01	1.1	3.2	1	0.04
25EW03-049	487547	7667660	Outcrop	0.03	3.5	4.2	1	0.01
25EW06-001	484525	7663210	Outcrop	0.1	3.6	247	99	0.01
25EW06-002	480776	7664457	Outcrop	0.13	2.4	232	63	0.005
25EW06-003	480776	7664458	Outcrop	0.14	2.3	253	64	0.005
25EW06-004	480650	7664483	Outcrop	0.11	2.6	193	73	0.005
25EW06-005	480222	7664591	Outcrop	0.04	2.7	56.9	72	0.005
25EW06-006	480227	7664588	Outcrop	0.04	0.9	70.3	64	0.005
25EW06-007	480168	7664393	Float	0.14	5.6	935	92	0.005
25EW06-008	480161	7664405	Float	0.02	1.9	16	3	0.02
25EW06-009	480162	7664395	Subcrop	0.11	5	650	75	0.01
25EW06-010	480040	7664258	Float	2.33	5	5860	76	0.005
25EW06-011	480241	7663818	Outcrop	0.08	13	107	67	0.01
25EW06-012	480202	7663759	Outcrop	0.05	0.6	155	73	0.01
25EW06-013	480185	7663831	Outcrop	0.05	0.8	147	74	0.01
25EW06-014	488201	7667842	Outcrop	0.15	105	102	12	0.005
25EW06-015	488203	7667846	Outcrop	0.02	8.8	9.2	5	0.19
25EW06-016	488194	7667892	Outcrop	0.01	0.25	6.6	3	0.03
25EW06-017	489123	7667641	Float	0.02	0.6	81.9	3	0.03
25EW06-018	489081	7667549	Outcrop	0.19	40.5	13	65	0.005
25EW06-019	489091	7667500	Outcrop	0.01	0.6	3.8	13	0.01
25EW06-020	487263	7668276	Outcrop	0.18	16.5	8.5	48	0.005
25EW06-021	487886	7668774	Outcrop	0.74	115.5	305	1	0.01
25EW06-022	486539	7669191	Float	0.04	49.3	7.7	14	0.01
25EW06-023	487141	7667929	Outcrop	0.33	23.2	25.2	28	0.01
25EW06-024	487100	7667886	Float	0.84	18.5	986	74	0.01
25EW06-025	486946	7667666	Float	179	418	4230	284	0.005
25EW06-026	487001	7667706	Float	0.65	37.4	7220	31	0.01
25EW06-027	487645	7666719	Outcrop	0.32	13.5	354	68	0.01
25EW06-028	487690	7666478	Outcrop	1.48	18.6	2840	77	0.01
25EW06-029	486709	7667414	Subcrop	0.94	13.6	2740	25	0.01
25EW06-030	487067	7667695	Float	11.85	147	555	346	0.005
25EW06-031	487067	7667695	Float	26.4	191.5	74.4	106	0.005
25EW06-032	487031	7667677	Float	0.04	1.2	55.7	63	0.24
25EW06-033	486950	7667625	Float	1.08	17.6	11.1	7	0.01
25EW06-034	486698	7667508	Float	6.16	14.9	18050	42	0.01
25EW06-035	486695	7667498	Float	0.12	33.9	22.8	7	0.005
25EW06-036	486677	7667493	Float	2.6	11.4	9970	123	0.005
25EW06-037	486655	7667491	Subcrop	0.49	11	3980	206	0.01
25EW06-038	486599	7667485	Outcrop	8.42	84.6	1640	11	0.005
25EW06-039	486537	7667401	Float	0.39	5.6	2650	22	0.3
25EW06-040	486127	7667865	Float	0.49	22.7	862	89	0.01
25EW06-041	486293	7667800	Outcrop	0.29	3.9	697	79	1.53
25EW06-042	486403	7667563	Float	0.92	13	20500	96	0.01
25EW06-043	486501	7667563	Float	2.26	36.4	12650	57	0.005
25EW06-044	487060	7667670	Float	0.03	1.4	86.9	64	0.005
25EW06-045	486962	7667776	Float	24.5	57.4	23.4	18	0.05
25EW06-046	486967	7667735	Float	0.26	309	385	19	0.005
25EW06-047	486948	7667799	Float	33	960	792	89	0.01
25EW06-048	486942	7667737	Float	4.28	144.5	42.2	33	0.01
25EW06-049	486964	7667737	Float	0.27	42.1	2430	363	0.005
25EW06-050	486687	7667457	Outcrop	0.22	232	1020	708	0.01
25EW06-051	486942	7667735	Outcrop	0.98	139	27.4	20	0.01
25EW06-052	486943	7667738	Outcrop	7.38	325	54.1	90	0.01
25EW06-053	486953	7667794	Float	0.61	22.7	1750	129	0.005
25EW06-054	487047	7668141	Float	11.05	184.5	573	117	0.005
25EW06-055	487003	7668178	Float	73.9	3280	1700	480	0.005
25EW06-056	487009	7668093	Float	131	1610	3880	565	0.03
25EW06-057	486981	7668042	Float	316	1245	1080	227	0.01
25EW06-058	487070	7668157	Float	7.82	162.5	213	170	0.01
25EW06-059	486662	7667520	Float	2.8	23	185	5	0.08
25EW06-060	486661	7667511	Subcrop	14	6.1	38000	175	0.01
25EW06-061	487093	7668064	Subcrop	112	650	2550	99	0.01
25EW06-062	487071	7668057	Float	490	1680	1735	367	0.005
25EW06-063	486985	7668386	Float	276	574	1435	348	0.005
25EW06-064	487117	7668272	Float	178	219	951	122	0.005
25EW06-065	487151	7668141	Float	7.84	226	16.2	36	0.01
25EW06-066	487167	7668318	Float	0.18	151.5	39	56	0.005
25EW06-067	487153	7668280	Float	33.5	1365	2110	639	0.01
25EW06-068	487195	7668266	Float	74.4	264	796	112	0.005

[2] www.kitco.com/charts/silver

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