Alien Metals (AIM:UFO) said GreenTech Metals (ASX: GRE) has commenced an 8,300 metre drill programme at the Whundo copper-zinc-gold project and Munni Munni platinum group elements-copper-nickel project in the West Pilbara, Western Australia.
Alien, an AIM-listed minerals exploration and development company (AIM: UFO), holds a 30% interest in Munni Munni, free carried until completion of a bankable feasibility study, alongside 37.9 million shares in GreenTech, representing about 10% of its issued share capital.
The programme comprises 4,750 metres of reverse circulation drilling and 3,560 metres of diamond drilling, including wider-diameter holes at Whundo to collect metallurgical samples for testwork on gold and silver recoveries.
One drill rig has been mobilised, with a second expected once further heritage clearances are secured.
An eight-day heritage survey at Munni Munni is scheduled to start 10 August, clearing new drill locations across the mineralised footprint and a high-priority basal zone target.
Until then, drilling will focus on copper-gold extensions at Whundo and existing cleared pads at Munni Munni.
"Ongoing review of our West Pilbara projects while planning for the drill program has highlighted clear addressable upside we expect to continue unlocking throughout the program," said GreenTech chief executive James Rattenbury.
Munni Munni hosts a historic resource of 2.2 million ounces of PGM and gold, one of the larger such systems in Australia.
The heritage survey's completion on 10 August marks the next milestone before full access across both target areas.
News Intelligence what this means for the company
GreenTech Metals has begun an 8,300-metre drill programme at Whundo and Munni Munni in Western Australia's Pilbara, where Alien Metals holds a 30% free-carried interest in Munni Munni and about 10% of GreenTech's shares. The programme—4,750m reverse circulation and 3,560m diamond drilling—targets copper-gold extensions and metallurgical samples at Whundo, with a heritage survey at Munni Munni scheduled for 10 August to unlock new drill locations across the 2.2-million-ounce PGM-gold resource. This is execution on Alien's stated strategy to advance its Pilbara portfolio through partnerships rather than equity raises.
- Munni Munni's free-carry status means Alien bears no direct drilling costs until a bankable feasibility study is complete, preserving cash for other priorities including its Pilbara iron-ore projects and the recently acquired Georgina Basin IOCG asset.
The drill programme advances one of Alien's two material Pilbara assets without capital outlay, but remains early-stage exploration; success depends on GreenTech's execution and heritage clearances, and any value realisation is years away. The 10% stake in GreenTech provides upside exposure but does not materially alter Alien's near-term cash position or funding outlook.
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