Shares in Alien Metals (LSE:UFO), the London-based exploration company, have jumped 37% this week on news of an ‘exceptionally high’ silver grade discovery in Western Australia.
The find was made during an initial stage of a diamond drilling programme at the Elizabeth Hill project, in the Pilbara region. The results were ‘outstanding’, according to stockbroker WH Ireland, with assays of 8,326 grams per tonne silver from one drill hole (21EHDD003) and 829 grams per tonne silver from another (21EHDD001). Significant results have also been found for base metals, including copper, nickel, cobalt, zinc and lead, which could form a valuable by-product revenue stream if recoverable.
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