The company said it has identified two robust drill targets associated with previously outlined geological corridors.
A drill program incorporating the survey results is currently being planned, it added.
Donovan 2 is situated in a major mining province and lies within 24 kilometres of Teck Resources Ltd’s San Nicolás volcanic massive sulphide deposit, which hosts a resource of 108.9mln tonnes grading 1.16% copper and 0.43 grams per tonne of gold.
“The highly successful IP survey carried out by highly experienced geophysical consultants has highlighted two robust and one slightly weaker magnetic anomaly, coincident with previous geophysical and rock chip sampling to date,” said Alien’s technical director Bill Brodie Good in a statement.
“The incorporation of promising results from IP, gravity and magnetic surveys has defined these anomalies. Importantly, the strong North zone IP anomaly is located in conjunction with previous magnetic and gravity anomalies while the high-grade copper float samples of up to 3% copper from the central east anomaly are coincident with the second anomaly to make these both robust drill targets and which are being incorporated into the drill planning.”
Broker First Equity called the targets “very interesting” and also drew attention to the “ongoing discussions” taking place between potential partners in regard to possible joint venture deals. The broker regards the shares as having been oversold in recent weeks, and notes that coronavirus has only “lightly impacted” the areas in which Alien operates. It rates the shares a “buy.”
Published at Tue, 14 Apr 2020 07:05:00 +0000-Alien Metals delineates two robust targets at Donovan 2, and is now planning a drill programme