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Alliance Resources Ltd.
Summary
| Project: | Wilcherry | |
|---|---|---|
| Deposit: | Yeltana | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 10/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2018: Alliance Resources Ltd. announces an Exploration/Drilling Update report for its Yeltana deposit at the Wilcherry project. Drilling results incl. 21.05m @ 9.28% TGC from 171.75m. Diamond drilling by Alliance at the Yeltana Prospect returns the f | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Johnston, Anthony Gray (Internal; Independent) | |
| ABSTRACT: | Diamond drilling by Alliance at the Yeltana Prospect returns the following significant Total Graphitic Carbon (TGC) intersections: All holes drilled to date show excellent correlation with a highly conductive source positioned below the existing holes. An Exploration Target has been estimated for the Yeltana Graphite Prospect of between 24.5 million and 59 million tonnes grading between 5.5% and 10.2% total graphitic carbon. The potential quality and grade of this Exploration Target is conceptual in nature as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target is based on empirical drilling and geophysical data and suggests that the Yeltana Graphite Prospect could be one of the largest graphite deposits in Australia (by mineral content). Further work is planned to advance the understanding of this mineralisation, including graphite flake size distribution to better assess the economic potential of the prospect before planning further drilling. Alliance Resources Ltd (Alliance) is pleased to announce the results of diamond drilling from the Yeltana Graphite Prospect, which forms part of the Wilcherry Project Joint Venture between Alliance (75.01%) and Tyranna Resources Ltd (ASX Code: TYX) (24.99%). The Yeltana Graphite Prospect is located 40 kilometres north-northwest of Kimba, on the northern Eyre Peninsula in South Australia (Figure 1). The prospect was first identified by a helicopter borne electromagnetic survey completed in early 2017 and more accurately defined by a high powered (HP) moving-loop electromagnetic (MLEM) survey completed in May and June 2017. | |
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