No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Alien Metals said in an update on Wednesday that native silver had been intersected in new drilling at the Elizabeth Hill project in Western Australia, confirming near-surface mineralisation at one of the country's highest-grade historic silver deposits.
The AIM-traded company said its joint venture partner, West Coast Silver, identified visible native silver and associated silver-bearing minerals in four of the first five drill holes completed at the up-plunge position of the former mine.
Alien said it retains a 30% free-carried interest in the project, which is being operated by West Coast Silver.
"It is very encouraging to see West Coast Silver continue to deliver such strong early results from its drilling at Elizabeth Hill, including the identification of visible native silver close to surface," said executive director Belinda Murray.
"These results further reinforce the exceptional potential of one of Australia's highest-grade historical silver deposits."
At 1406 GMT, shares in Alien Metals were flat at 0.13p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.