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Alchemy Resources Ltd.
Summary
| Project: | Bryah Basin | |
|---|---|---|
| Deposit: | Bryah Basin | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Zinc-Lead-Bismuth-Antimony-Tin-Tellurium-Selenium | |
| Date: | 7/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-7-2019: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its Bryah Basin deposit at the Bryah Basin project. AC drilling results incl. 5m @ 0.13% Cu from 45m. Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to annou | |
| 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 Sandfire Resources NL (ASX: SFR) has received several anomalous copper and gold results from Phase 1 aircore drilling along strike to the southwest of the De Grussa copper-gold deposit within Alchemy’s 100% owned Bryah Basin Project in the Gascoyne region (Figure 1). Some 584 aircore holes (42,019m) have been drilled on a 1.6km x 100m spacing across approximately 65% of the 40 kilometre strike of the Karalundi sediments, host to the De Grussa VMS copper-gold mineralisation. Best results from the first 387 holes include seven 5m composite samples >200ppm Cu to a maximum of 5m @ 0.13% Cu. Results for other elements include; 5m @ 2.7g/t Au, 5m @ 1.6g/t Au, 10m @ 540ppm Zn, 5m @ 428ppm Pb, and 5m @ 114ppm Bi. Infill aircore drilling at 800m and 400m line spacings will be undertaken on the completion of the wide spaced ~900 hole Phase 1 drill program. Follow-up RC drilling has commenced with two holes (682m) now completed at the Churchill prospect and another four RC holes planned (Figure 2). All RC results are pending. A detailed moving loop electromagnetic (MLEM) survey designed to further improve targeting of the host volcanogenic massive sulphide (VMS) horizon has also commenced. Processing of the EM data is ongoing and along with the recently collected gravity data, will be incorporated into existing regional datasets and inversion models created. The resulting models will then be used to target VMS mineralisation and further refine the Phase 2 drill program. | |
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