Alien Metals Ltd (LSE:UFO) has launched an accelerated diamond drilling campaign at its Elizabeth Hill silver project in Western Australia, aiming to extend high-grade mineralisation.
The results are also expected to support a maiden JORC resource estimate.
The initial phase will comprise approximately 1,000 metres of drilling, focusing on the down-dip and strike extensions of previous intercepts. Elizabeth Hill is a historic silver mine that previously produced ore with grades over 2,000 grams per tonne, it added.
"This accelerated drill campaign at Elizabeth Hill forms a crucial step toward realising the asset’s full value and advancing our resource development strategy," said chief executive Troy Whittaker.
In London, Alien Metals shares climbed 20% to change hands at 0.19p.