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Alchemy Resources Ltd.
Summary
| Project: | Cobar Basin | |
|---|---|---|
| Deposit: | Rosedale, Black Range | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 4/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-4-2018: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its Rosedale, Black Range deposit at the Cobar Basin project. JV - No significant assays received . Alchemy Resources Limited (ASX: ALY) (“Alchemy”) advises that it has | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Leigh Ryan (Internal) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) advises that it has received all assay results from the recent RC drilling program within the Overflow North and Yellow Mountain projects in the Cobar Basin, NSW with no significant results received from the program. Black Range Tank Prospect RC drilling (2 holes for 344m) targeting a large, insufficiently tested VTEM conductivity high, MLEM conductivity high, coincident gold/base metal soil anomalism, and gossan rock chip values up to 1.94g/t Au, 45g/t Ag, 1.2% Pb, & 0.1% Cu (refer to Alchemy Resources ASX Announcement dated 21 August 2017) intercepted a sequence of quartz veined graphitic sediments which appear to explain the EM anomaly, and assays returned no significant results. The gossanous unit seen at surface to the east of the drill hole collars was not identified in either drill hole and the source of the gold and copper in soil anomaly remains unexplained. Rosedale Prospect (Yellow Mountain Copper-Gold Project) RC drilling at the Rosedale Prospect (3 holes for 135m) targeting the western strike extensions of various historic drill intercepts including 24m @ 2.51g/t Au from 4m (PDH02) and 6m @ 3.1g/t Au from 5m (PQS007) (refer to Alchemy Resources ASX announcement dated 19 March 2018) (Figure 1). All three drill holes intercepted foliated volcaniclastic sandstone above a variably silicified, quartz veined magnetic basalt containing up to 5% disseminated and fracture fill pyrite, however no significant gold mineralisation was encountered. Mineralisation identified in previous drilling does not plunge to the west as initially interpreted and structural controls on mineralisation remain unknown. | |
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