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Alien Metals to acquire silver tailings project in Western Australia

Alien Metals has signed an exclusivity arrangement with Wombat Resources to potentially acquire the silver tailings project at Elizabeth Hill in Western Australia.

Alien Metals has signed an exclusivity arrangement with Wombat Resources to potentially acquire the silver tailings project at Elizabeth Hill in Western Australia.

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Located within the Company’s mining lease ML47/342, the company said there remains the partly retreated tailings from the original silver mine operations at Elizabeth Hill. This is currently subleased from Alien by Wombat Resource, the owner of the tailings on site.

As part of the 60-day exclusivity period of the deal, Alien Metals will undertake further assessment of the tailings in situ and as well as potentially negotiate an acquisition of the rights and title to the Elizabeth Hill tailings project.

Alien said that the recent sampling of the tailings have returned “very encouraging” results, with silver grades up to 1,270 grammes a tonne (g/t).

The firm assessed 84 samples from 21 locations, with silver grades up to 1,270 grams per tonne, and the samples returned an average grade of 472 grams of silver per tonne.

Alien Metals CEO and technical director Bill Brodie Good said: “Knowing that the Elizabeth Hill silver mine’s historic operations were somewhat inefficient and being very high-grade with abundant native silver we felt that, despite previous reprocessing activities, there is likely significant value remaining in the silver tailings.

“Following discussions with the silver tailings owner, a first-pass sampling program was undertaken in December 2020 to test the properties of the tailings. ALS laboratories in Perth carried out an Aqua Regia ICP-AES assay on 84 auger samples from 21 locations, which returned consistently high values of silver and associated minerals.”

Alien Metals plans to conduct further sample work over the coming months, as well as undertake analysis to determine most efficient and cost-effective processes to extract the silver from the tailings.

Brodie Good added: “We believe that the silver tailings project could generate near-term cashflow which could help underpin a range of exploration activities at Elizabeth Hill and the Munni Munni North project.”

As per Alien’s preliminary assessment, there remain about 16,000 tonnes of tailings on the Elizabeth Hill silver mine operations.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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