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Alchemy Resources Ltd.

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Summary

Project:

Hermes

Deposit:Hermes South
Location:Australia
Commodities:Gold
Date:8/6/2018
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Feasibility Study
Report details:6-8-2018: Alchemy Resources Ltd. announces a Resource Estimation report for its Hermes South deposit at the Hermes project. Additional information to support previous announcement updating mineral resource estimate. On 3 August 2018, Alchemy Resources Lim
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:On 3 August 2018, Alchemy Resources Limited (“Alchemy”) released an announcement that included an update to the Hermes South Mineral Resource estimate, in order to bring it into compliance with JORC 2012. The ASX has determined that updating a Mineral Resource from JORC 2004 to JORC 2012 constitutes a ‘material’ change and, as such, certain information that was included in the JORC tables presented on pages 4-19 of the 3 August 2018 announcement is required to be included in the main body of the announcement (in accordance with ASX Listing Rule 5.8.1). This announcement serves as an addendum to the Hermes South Mineral Resource update contained in the Alchemy announcement dated 3 August 2018. It differs only by the inclusion of summary information required under LR 5.8.1 (the information was originally included in the tables in accordance with LR 5.8.2) which can be found on pages one to three of this announcement. There is no change to the Mineral Resource estimate classification, tonnes, grade, or ounces which remains at 1.37Mt @ 2.0 g/t for 87,000oz Au (0.6g/t Au lower cut-off). The Hermes South deposit (previously known as the Wilgeena deposit) lies within the Proterozoic Peak Hill Schist. The Peak Hill Schist comprises quartz-sericite schist and quartz-muscovite schist and is located on the south-western tip of the Marymia Inlier. Gold mineralisation occurs within a predominantly metasedimentary sequence of Proterozoic schists and mafic volcanic units and is associated with the development of linear fabrics (070  080) (possible axial planar shearing) and quartz veining dipping at 65 degrees to the south in relatively predictable and consistent zones. An overall plunge to gold mineralisation at approximately 400 to the east is observed in the four main gold shoots that contain the majority of gold mineralisation defined to date (Figure 1).

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