Alien Metals highlights expanded Pilbara drilling as GreenTech advances key projects (UFO)

Alien Metals (LSE:UFO) has outlined new exploration activity planned by GreenTech Metals at the Munni Munni PGE-Cu-Ni and Whundo Cu-Zn-Au projects in Western Australia, where it holds a 30% joint venture interest alongside an equity stake of approximately 10% in GreenTech. The upcoming work is aimed at expanding resource knowledge and improving metallurgical understanding at the two projects, while complementing Alien’s primary focus on advancing its Hancock Iron Ore Project.

GreenTech is preparing to begin drilling in late July after securing drilling contractors, with the programme supported by a government-funded Fixed-Loop Electromagnetic survey and a heritage survey scheduled for August to unlock additional drill targets along the Munni Munni basal contact. The campaign will include around 4,750 metres of reverse circulation drilling and 3,560 metres of diamond drilling, alongside updated resource modelling and copper-focused metallurgical studies. The work is expected to improve drill targeting, support a revised mineral resource estimate and contribute to early-stage development studies, potentially increasing Alien’s exposure to the copper and platinum group element markets.

Alien Metals’ outlook remains constrained by its pre-revenue status, ongoing losses and persistent negative free cash flow. Technical indicators also point to generally weak market momentum, while valuation remains difficult to assess because of negative earnings and the absence of a dividend.

More about Alien Metals Ltd

Alien Metals Ltd is an AIM-listed mining exploration and development company focused on iron ore, precious metals and base metals projects in Western Australia’s Pilbara region. Its flagship Hancock Iron Ore Project hosts a JORC-compliant resource and is being advanced towards a potential 2Mtpa mining operation. The company also holds joint venture interests in the Munni Munni platinum group metals system and the Elizabeth Hill Silver Project, providing both direct project exposure and strategic equity interests in development partners.