Aim-listed Alien Metals, previously Arian Silver, has confirmed the presence of gold at the Donovan 2 concession, in Zacateca, Mexico, lifting the company’s share price by 20%.
CEO Peter Taylor commented on Thursday that the presence of gold at Donovan 2 came as no surprise, given that the Minera Frisco El Coronel gold mine was within 10 km of the project.
In addition to Donovan 2, Alien Metals would also give priority in the third quarter to follow-up exploration work at the Los Campos and San Celso concessions. Detailed surface mapping and sampling, in combination with additional underground sampling of historic workings would be undertaken to identify drill targets.
“With further exploration planned at Los Campos where the project adjoins Endeavour Silver’s El Compas gold mine and at San Celso, the subject of the company’s original Aim listing, Alien is delivering on its strategy of putting money into the ground and increasing confidence in the assets to potential joint venture partners,” said Taylor.
Shares in the exploration company traded at 0.17p a share, from the previous day’s closing price of 0.14p each.