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Alchemy Resources Ltd.
Summary
| Project: | Karonie | |
|---|---|---|
| Deposit: | Gilmore | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-10-2017: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its Gilmore deposit at the Karonie project. Drilling results incl. 12m @ 0.7g/t Au from 28m. Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce num | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Leigh Ryan (Internal) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce numerous significant gold anomalies returned from first pass aircore drilling within the Karonie Gold Project in the Eastern Goldfields, WA (Figure 1, Table A). The results have confirmed the presence of gold mineralisation over five kilometres of strike with extensions to the north and south of this highly possible. Anomalous levels of Te, As and Sb coincident with the gold mineralisation suggest the drilling has intercepted at least one major structure, which may indicate the presence of a significant mineralised system. The intercept in GMAC039 (12m @ 0.70g/t Au from 28m) is located within saprolitic clay containing up to 15% oxidised sulphide and quartz vein drill chips. The interpreted footwall of this mineralisation is comprised of strongly foliated (sheared), calc-silicate-biotite altered pyritic dolerite, very similar to what is seen at the Karonie mine 16km to the north (Figure 2). The nearest drill hole along strike of GMAC039 is ~3km to the south and ~2km to the north. Follow-up drilling targeting primary gold mineralisation at depth and along strike is planned. The centre of both Gilmore lines 6549350N and 6551150N contain quartz veined, altered pyritic dolerite units with anomalous bottom-of-hole gold values, including 1m @ 0.66g/t Au from 20m (GMAC049) and 6m @ 0.25g/t Au from 16m (GMAC028) (Figure 3) | |
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