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Alchemy Resources Ltd.
Summary
| Project: | Hermes | |
|---|---|---|
| Deposit: | Hermes South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-8-2018: Alchemy Resources Ltd. announces a Resource Estimation report for its Hermes South deposit at the Hermes project. JV - Updated mineral resource estimate at Hermes South to JORC 2012 compliance. Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is | |
| Resources: | (Resource, Inf.): 1.37Mt @ 1.97g/t Au for 87Koz Au contained at Hermes South | |
| CP/QP: | [Resources]: Stephen Godfrey (Resource Evaluation Services Pty Ltd.) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce the completion of a JORC Code 2012 Edition compliant uncut inferred resource estimate of 1.37Mt @ 2.0 g/t for 87,000oz Au (0.6g/t Au lower cut-off) for the Hermes South deposit (formerly named Wilgeena) located approximately 20 kilometres southsouthwest of the Hermes mining operation, and 65 kilometres southwest of the Plutonic gold mine in the Bryah Basin, WA. Hermes South forms part of the farm-in and joint venture agreement with Billabong Gold Pty Ltd, a subsidiary of Superior Gold Inc. (TSX-V: SGI). Billabong Gold is earning an 80% interest with Alchemy’s 20% interest then carried on an interest-free deferred basis to production, with repayment from 50% of Alchemy’s share of production. The Hermes South resource modelling and estimation has been completed by Stephen Godfrey of Resource Evaluation Services Pty Ltd, an external and independent resource consultancy. Details of the updated Hermes South inferred resource estimate, which is very similar to the JORC Code 2004 resource estimate completed by Simon Coxell1 is shown in Table A below. | |
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