leadf
logo-loader
viewAlien Metals Ltd

Alien Metals secures new exploration ground in Greenland

Alien Metals has a diverse portfolio of assets in various jurisdictions

Alien Metals Ltd -

Alien Metals Ltd (LON:UFO) rose on Monday following news it has been awarded a 208 square kilometre exploration licence in northern Greenland, surrounding the world-class Citronen zinc-lead project owned by Ironbark Zinc Ltd.

Citronen hosts a resource in excess of 13 billion pounds of contained zinc and lead metal and is one of the largest undeveloped zinc-lead projects globally

Alien will soon commence a detailed review of historical data available over the project area.

Meanwhile, IBK Capital has begun a marketing process for the company's San Celso and Los Campos silver projects in  Mexico, following the recent transaction with Capstone Mining over Donovan 2, also in Mexico.

"The Company and its advisers continue to assess new projects and identified an opportunity to secure an exploration footprint in northern Greenland on strike and adjacent to the world-class undeveloped Citronen zinc-lead project,” said Alien’s chief executive Bill Brodie Good in the group's M&A update.

“Greenland is known for its low-sovereign risk, prospective geology and great potential in the resource sector. The company's immediate focus is to undertake a comprehensive review of the licence area to guide initial work programmes. We are also very pleased that IBK Capital investment bank have agreed to support our Mexico silver projects and look forward to updating the market as news develops," he added.

In morning trade, shares in Alien Metals were nearly 12% higher at 1.90p.

 -- Adds share price --

Quick facts: Alien Metals Ltd

Price: 1.1 GBX

LSE:UFO
Market: LSE
Market Cap: £37.63 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alien Metals Ltd named herein, including the promotion by the Company of Alien Metals Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Silver price to continue to strengthen as gold rockets

Mining Capital's Alastair Ford says we've seen a significant increase in the silver price which he says is long overdue. The gold/silver ratio has been widening for a while now and a lot of market commentators have been saying it's only a matter of time before silver starts to respond to...

on 07/24/2020

2 min read