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Alchemy Resources Ltd.

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Summary

Project:

West Lynn

Deposit:West Lynn, Summervale
Location:Australia
Commodities:Nickel-Cobalt-Aluminium-Iron
Date:10/22/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:22-10-2018: Alchemy Resources Ltd. announces an Exploration/Drilling Update report for its West Lynn, Summervale deposit at the West Lynn project. Drilling results incl. 25m @ 0.99% Ni, 0.057% Co, 5.34% Al2O3, 24.60% Fe from 36m. Alchemy Resources Limited
Resources:x
CP/QP:[Overall Report]: Leigh Ryan (Internal)
ABSTRACT:Alchemy Resources Limited (ASX: ALY) (“Alchemy”) is pleased to announce additional significant results received from the Phase 2 resource drilling within the West Lynn Nickel-Cobalt Project in the Lachlan Fold Belt, NSW, which forms part of the Heron Resources Limited (ASX: HRR) Farm-in Agreement (Figure 1). The results confirm broad high grade nickel (Ni) - cobalt (Co) mineralisation within the laterite and saprolite profiles at both West Lynn and Summervale, and confirm and extend broad zones of alumina (Al2O3) immediately above the Ni-Co mineralised zone. Phase 3 drilling is now underway, comprising infill and extension aircore drilling and 3 PQ triple tube diamond holes to allow for density measurements on the mineralised host rocks. Results from the Phase 3 drilling program are expected to facilitate the conversion of the existing West Lynn Nickel-Cobalt Exploration Target to a JORC Code 2012 compliant resource estimate. The Phase 2 drilling program has also confirmed the potential to expand the known Ni-Co- Al2O3 mineralisation at both the Summervale and West Lynn prospects, with Alchemy’s drilling covering only about 10km of the 22km long West Lynn Serpentinite

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