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Alchemy Resources Ltd.
Summary
| Project: | Karonie | |
|---|---|---|
| Deposit: | Karonie | |
| Location: | Australia | |
| Commodities: | Gold-Zinc | |
| Date: | 12/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-12-2019: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its Karonie deposit at the Karonie project. Drilling results incl. 26m @ 1.6g/t Au from 83m. Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce sign | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Leigh Ryan (Internal) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce significant results from aircore (AC) drilling at the Taupo Prospect, and from 3 out of 5 reverse circulation (RC) drill holes completed at the Parmelia, KZ5 and Taupo Prospects within the 100% owned Karonie Gold Project in the Eastern Goldfields, WA (Figure 1). The drilling tested high priority Karonie style gold targets immediately along strike to the north and south of the Silver Lake Resources Ltd (ASX: SLR) Aldiss Mining Centre. Drilling at the Parmelia Prospect, 2km south of Silver Lake’s Tank South Prospect, intersected 26m @ 1.6g/t Au from 83m (incl. 13m @ 2.1g/t Au from 87m) ~75m down plunge to the north of a previous Gold Fields Australasia Pty Ltd aircore intercept of 20m @ 1.0g/t Au from 32m 1 . A second hole (PARC001) returned 19m @ 0.81g/t Au from 70m (incl. 4m @ 1.09g/t Au from 85m) ~65m along strike to the south of the Gold Fields intercept (Figures 2 & 3, Table A). Both intercepts coincide with silica-biotite altered dolerite containing up to 5% quartz veining and up to 5% disseminated pyrite. Previous drilling along strike is limited to wide spaced (~60m x 40m), vertical RAB and aircore holes drilled to blade refusal (depths between 2m and 30m). This is not adequate to identify primary mineralisation within the plunging gold shoots common in the Karonie-Aldiss region. Follow-up RC drilling is being planned to test both along strike and up and down-plunge positions of these new gold intercepts. | |
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