For thousands of other reports visit RSC's Mineral Intellingence Map
Alchemy Resources Ltd.
Summary
| Project: | West Lynn | |
|---|---|---|
| Deposit: | West Lynn | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-7-2018: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its West Lynn deposit at the West Lynn project. JV - Old drillholes new assay results incl. 23.0m @ 14.3% Al2O3, 3.0% Fe2O3 from 20m. Alchemy Resources Limited (ASX: ALY | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Leigh Ryan (Internal) | |
| ABSTRACT: | Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce the completion of Phase 1 resource drilling within the West Lynn Nickel-Cobalt Project in the Lachlan Fold Belt, NSW (Figure 1). The Project forms part of the farm-in and joint venture agreement with Heron Resources Limited (ASX: HRR) which enables Alchemy to earn an 80% interest in eight NSW licences (including the West Lynn licence) by spending $1.5M over the remaining 3 year period1 . The drilling has been designed to advance the existing West Lynn Nickel-Cobalt Exploration Target of 15 - 30Mt @ 0.7 - 0.9% Ni, 0.05 - 0.07% Co1 to a JORC 2012 compliant inferred resource estimate. The Exploration Target has previously been classified as an indicated resource by Jervois Mining under the JORC Code 2004 Edition2 . Thirty six (36) Phase 1 aircore drill holes (SV001 – 036) totalling 1,805m were completed at the Summervale Prospect (Figure 2) with the aim of infilling previous drill intercepts including 13m @ 1.41% Ni, 0.08% Co from 41m and 15m @ 0.91% Ni, 0.04% Co from 36m3 to a 100m x 100m, and 100m x 200m drill spacing which Alchemy considers will be sufficient for a JORC Code 2012 compliant inferred resource category. Most drill holes intercepted broad zones (up to 30m thick) of pale cream to white (aluminium-rich) clay above variably limonitic and ferruginous clay and saprolite before intercepting weathered serpentinite. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report