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Alchemy Resources Ltd.
Summary
| Project: | Hermes | |
|---|---|---|
| Deposit: | Hermes South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-5-2019: Alchemy Resources Ltd. announces a Resource Estimation report for its Hermes South deposit at the Hermes project. Updated mineral resource estimate at the project. Metallurgical test-work undertaken on oxidised core from the Hermes and Hermes So | |
| Resources: | (Resource, I+I): 2.235Mt @ 1.6g/t Au for 114Koz Au contained at Hermes South | |
| CP/QP: | [Resources]: Pascal Blampain (Internal) | |
| ABSTRACT: | Metallurgical test-work undertaken on oxidised core from the Hermes and Hermes South gold deposits, obtained from previous diamond drilling, indicates that the ore is amenable to treatment in a conventional crush, grind and CIL plant with good recoveries across all size fractions. A high proportion of gold is contained in the coarse fraction, and the test-work indicates that a large percentage (40-60%) of the free gold at Hermes South could be recovered by gravity concentration. No technical issues have been identified that would result in a poor recovery or extenuating cost issues1 . Four HQ diamond holes for 684.6 metres were recently completed for the purpose of gathering geotechnical information, additional bulk density data, and samples for additional metallurgical testwork. Detailed geotechnical data was also collected from nine previously drilled RC holes using an acoustic/optical televiewer. A geotechnical model using all the recent drilling information is being created, and metallurgical testwork results are expected during the current quarter. The mineralisation remains open at depth and has excellent potential for further drilling to expand the area of gold mineralisation and add to the known resource, and Alchemy is hopeful that the Hermes South deposit will become part of the production profile for the Plutonic Gold Operation. The Hermes South deposit is strategically located and Miscellaneous Licence applications to accommodate the development of a haul road between the existing Hermes Haul road and the Hermes South resource area will also be lodged during the current quarter. | |
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