Alien Metals shares rise as Munni Munni survey paves way for drilling
(Alliance News) - Alien Metals Ltd on Wednesday said its partner has started a heritage survey at the Munni Munni platinum-group metals, copper and nickel project in Western Australia, paving the way for drilling at new targets.
Shares in the London-based minerals explorer jumped 16% to 0.090 pence on Wednesday afternoon in London.
Alien said GreenTech Metals Ltd had begun the survey with the Ngarluma Traditional Owners. It covers proposed drill locations and access tracks, including high-priority basal zone targets.
Ahead of the Munni Munni survey, drilling is underway at GreenTech's Whundo copper, zinc and gold project to maximise drill rig utilisation across both projects.
GreenTech Chief Executive James Rattenbury said the survey was key to unlocking Munni Munni's potential.
"Once these new Munni Munni target areas are cleared, we will be well-positioned to immediately vector our drilling towards the exciting basal copper and PGE targets that our recent technical reviews have identified," he said.
Alien holds a 30% interest in Munni Munni, free carried through to completion of a bankable feasibility study, and owns 37.9 million shares in GreenTech, representing around a 10% stake in the company.
By Niall Holden, Alliance News reporter
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