Alien Metals (AIM:UFO), the AIM-listed minerals exploration and development company, said partner GreenTech Metals (ASX: GRE) has started a heritage survey at the Munni Munni PGE-Cu-Ni project in the West Pilbara.
The survey, conducted with the Ngarluma Traditional Owners, covers proposed new drill locations and access tracks across the project's mineralised footprint, including high-priority basal zone targets.
Alien holds a 30% interest in Munni Munni, free carried through to completion of a bankable feasibility study, plus 37.9 million shares in GreenTech, roughly a 10% stake in the ASX-listed company's issued capital.
GreenTech has kept drilling active at its nearby Whundo copper-zinc-gold project while the heritage clearance proceeds, aiming to keep rigs utilised across both sites with minimal downtime. Its chief executive James Rattenbury said the approach lets the company push ahead testing shallow extensions and gathering structural data while the survey clears the way for step-out drilling.
"Once these new Munni Munni target areas are cleared, we will be well-positioned to immediately vector our drilling towards the exciting basal copper and PGE targets that our recent technical reviews have identified," Rattenbury said.
Munni Munni hosts a historic resource of 2.2 million ounces of platinum, palladium, rhodium and gold, one of the largest such systems in Australia.
GreenTech's next update is expected once the heritage survey concludes and drilling shifts to the newly cleared target areas.
News Intelligence what this means for the company
GreenTech Metals has begun a heritage survey at Munni Munni covering new drill targets, a procedural step required before exploration can proceed on high-priority basal zone targets at the PGE-Cu-Ni project. Alien Metals holds a 30% free-carried interest and ~10% equity stake in GreenTech; the survey itself is administrative clearance, not a discovery or material operational milestone—GreenTech is maintaining rig utilisation at the nearby Whundo project while awaiting clearance.
- Timing to drilling restart at Munni Munni depends on heritage survey completion; no date is given, so execution risk on the stated plan to 'immediately vector' drilling to basal targets remains unquantified.
The heritage survey is a necessary gate, not a value inflection. Alien's upside remains contingent on GreenTech's ability to define economic mineralisation at Munni Munni's 2.2 Moz historic resource and advance it toward the bankable feasibility study that triggers Alien's free-carry obligation—a multi-year pathway with no near-term catalysts signalled here.
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Content is for informational purposes only, not financial advice.
