The share price of Alien Metals (AIM: UFO) climbed by 5 percent as it completed mapping and sampling programs at Hammersley Iron Ore projects.
The minerals exploration and development company followed-up on its RNS from 20 September by highlighting that it has been able to validate the exploration targets.
It noted that 95 samples were taken across the projects and test results are due to be published later this month.
Commenting on the development was CEO Bill Brodie Good who described early findings as extremely pleasing:
“The findings from the recently completed field programme are extremely pleasing and further validate the Company’s exploration targets. The field work has expanded upon the previous site visit, with the validation of recent research and the potential increase in projected DSO mineralisation within both tenements. It should be noted that the field team advised how busy both areas were in terms of neighbouring companies working in the region which further encourages us to push on with both projects.”
The share price of UFO is currently at 0.7p.