Alien Metals (AIM:UFO), in one of two announcements released today, relayed a potentially game‑changing update from its joint venture partner GreenTech Metals, claiming a systematic review of Munni Munni’s historic drilling suggests “material upside potential not captured in the historic Mineral Resource Estimate”.
GreenTech’s work highlights three specific opportunities that could materially change the project’s scale: multiple high‑grade PGE zones above 4 g/t PGE4, under‑recognised copper and nickel sulphides outside the previously targeted Ferguson Reef, and eastern zones with shallow plunges from surface that may be amenable to bulk open‑cut mining.
Those findings target expansion beyond the historic MRE of 24Mt at 2.9 g/t PGE4 for 2.2Moz (HLX, 2002), which GreenTech says is a historical estimate not yet reported to JORC (2012) standards.
“Our ongoing interrogation of the historic database and drill logs has reinforced our conviction that historic exploration efforts, focused almost exclusively on the Ferguson Reef, have missed a compelling larger scale opportunity at Munni Munni,” the company quoted James Rattenbury, Chief Executive Officer of GreenTech. He added the programme will validate historic data to support a re‑estimated MRE and design an expanded exploration plan across the 225 km² intrusive system.
Operationally, GreenTech completed its maiden drilling and resampling programme in March 2026.
The resampling phase so far has re‑sampled 16 of 162 historic diamond holes and benefits from well‑preserved core; GreenTech says it will continue resampling alongside infill and extensional drilling to test reef thickening and the Cu + Ni targets. Assay results from the completed work are expected in mid‑April 2026, the announcement said.
For Alien, which sold a 70% interest in the Munni Munni tenements to GreenTech, the update matters because the company retains a 30% interest that is free carried to the completion of a bankable feasibility study.
The London-listed small-cap reminded investors Munni Munni is one of Australia’s largest PGM systems and that the JV structure preserves its exposure to any upside from a re‑estimate or expanded exploration success.
