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Alchemy Resources Ltd.
Summary
| Project: | Bryah Basin | |
|---|---|---|
| Deposit: | Bryah Basin | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Zinc | |
| Date: | 1/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2020: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its Bryah Basin deposit at the Bryah Basin project. JV - drilling results incl. 5m @ 0.01% Cu, 1.98g/t Au, 0.01ppm Zn from 65m. Alchemy Resources Limited (ASX: ALY) (“Al | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Leigh Ryan (Internal) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce that Joint Venture partner Sandfire Resources Limited (ASX: SFR; “Sandfire”) have completed Phase 1 aircore (AC) drilling designed to test a 40km strike of the NarracootaKaralundi volcano-sedimentary sequence that potentially hosts DeGrussa style high grade copper-gold mineralisation (Figure 1). Significant results received from 828 AC holes include 5m @ 2.0g/t Au from 65m* and 20m @ 0.11% Cu from 85m (Neptune East), 5m @ 1.2g/t Au from 45m and 10m @ 0.27% Zn from 75m* (Moby), 5m @ 1.1g/t Au from 45m* (Seaborg SE), and 5m @ 1.0g/t Au from 25m* (Churchill) (Figure 2, Table A). It is important to note that four of these intercepts (*) have yet to be followed up with infill drilling. This includes coincident gold and copper mineralisation on drill lines 800m apart within the Karalundi Formation at Moby and to the southwest of Seaborg. Anomalous gold previously intercepted at Moby South, and to the northeast and west of Neptune also require infill AC drilling (Figure 2). In addition, anomalous gold in identified along strike to the southeast of Neptune has highlighted no gold analysis in previous IGO AC drilling. Pulps from this program are available and will be re-submitted for gold analysis. | |
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