Alien Metals Limited (LSE:UFO), the minerals exploration and development company, reported progress across its Australian portfolio for the quarter ended 30 September 2026, including further silver drilling results at Elizabeth Hill and exploration activity at Munni Munni and Whundo.
The company’s joint venture partners, West Coast Silver Limited (ASX: WCE) and GreenTech Metals Limited (ASX: GRE), raised a combined A$16.7 million during 2026 to fund exploration and technical programmes. Alien retains 30% free-carried interests in Elizabeth Hill and Munni Munni, alongside equity holdings in both companies.
Elizabeth Hill Silver Resource Update Expected in November
At Elizabeth Hill, West Coast Silver reported drilling results including 38.3 metres grading 878 grams per tonne (g/t) silver from 3.7 metres in hole 26WCDD037, including 22.3 metres at 1,495 g/t silver.
Additional intersections included 13.5 metres at 2,253 g/t silver and 3.0 metres at 524 g/t silver, with drilling identifying mineralisation beyond the existing resource boundaries. All reported intervals represent downhole lengths.
The project’s April 2026 JORC Mineral Resource Estimate stands at 141,000 tonnes grading 617 g/t silver, containing approximately 2.8 million ounces.
West Coast Silver, which raised A$6 million in September, expects to publish an updated resource estimate in November 2026, with further drilling and a Scoping Study planned for early 2027.
Alien holds a 30% project interest, free-carried until a decision to mine, and approximately 7% of West Coast Silver’s issued shares.
Munni Munni and Whundo Exploration Programmes Progress
At Munni Munni, GreenTech is advancing geological studies, metallurgical testing and resource re-estimation work.
The project has a historical estimate of 23.6 million tonnes grading 2.9 g/t platinum group elements and gold, containing approximately 2.2 million ounces. This estimate is not compliant with JORC 2012 standards and has not been classified as a current Mineral Resource.
GreenTech expects to complete an updated JORC resource assessment during the December quarter. Preparations are also underway for drilling targeting copper-nickel mineralisation following geochemical and electromagnetic surveys.
At the GreenTech-owned Whundo copper-zinc project, drilling at Ayshia returned 4.76 metres grading 7.13% copper, 1.20% zinc, 0.88 g/t gold and 29.6 g/t silver.
The existing Whundo resource totals 6.2 million tonnes grading 1.12% copper and 1.04% zinc. An updated estimate incorporating gold and silver is targeted for the December quarter.
Alien holds a 30% free-carried interest in Munni Munni and approximately 10.1% of GreenTech’s shares, providing indirect exposure to Whundo.
Georgina Basin and Iron Ore Portfolio Review
Alien continued technical evaluation at its wholly owned Georgina Basin copper-gold project in Australia’s Northern Territory, covering approximately 2,500 square kilometres.
During the quarter, four exploration licences were consolidated into two without changing the project’s ownership or area. The company also reviewed historical drilling information and continued engagement with Traditional Owners regarding additional licence applications.
Separately, Alien is assessing joint ventures, partnerships and potential disposals for its Hancock, Vivash and Brockman iron ore projects. Discussions with interested parties remain ongoing, although no agreement is guaranteed.
Partner Funding and Corporate Position
West Coast Silver and GreenTech raised approximately A$16.7 million through equity placements during 2026, with respective cash balances of A$5.6 million and A$4.5 million at 30 September.
Under the existing joint venture agreements, Alien is not expected to fund applicable exploration expenditure at Elizabeth Hill until a decision to mine or at Munni Munni until completion of a bankable feasibility study.
The company remains responsible for its own corporate and directly controlled project expenditure. It also extended the repayment date of its loan facility to 30 September 2027.
Vince Fayad, Executive Director of Alien Metals, commented on the funding and exploration programmes, noting that the company’s joint venture structure allows it to retain exposure to potential resource development while its partners fund current activities.
More About Alien Metals Limited
Alien Metals Limited is a minerals exploration and development company with interests in silver, copper, zinc, platinum group metals, nickel, gold and iron ore projects in Australia.
Its portfolio includes joint venture interests in Elizabeth Hill and Munni Munni, equity holdings in West Coast Silver and GreenTech Metals, and directly controlled copper-gold and iron ore exploration assets.
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