Announcement Date: 2022-03-09
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Alchemy Resources Ltd.
Project name: Karonie
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 2m @ 3.79g/t Au from 84m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Alchemy Resources Limited (ASX: ALY) (“Alchemy” or “the Company”) is pleased to announce that it has received final assays from the Karonie East aircore (“AC”) drill program. The new results including single metre assays, outline a large north-south trending geochemical anomaly located to the east of the existing mining operations at Aldiss. The large geochemical footprint stretches over two areas of ~950m strike in the north and 4,300m strike in the south adjacent to areas of historic drilling which failed to reach basement rocks or to penetrate the younger cover. Phase 2 of Alchemy’s planned drilling was focussed on the Karonie East target area as a priority target, after the high-resolution magnetics flown in 2021 pin-pointed multiple high tenor structures in proximity to the existing deposits2 and open pits at the adjacent Aldiss Mining Operations currently operated by SLR. The program aimed to test the 10km long corridor AC and consisted of 112 holes for a total of 6,357m of drilling. The program was split into two zones, in the north and south of the trend.
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