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Alloy Resources Ltd.
Summary
| Project: | Horse Well | |
|---|---|---|
| Deposit: | Horse Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-6-2018: Alloy Resources Ltd. announces an Exploration/Drilling Update report for its Horse Well deposit at the Horse Well project. Drilling results incl. 14.0m @ 8.38g/t Au from 57m. Australian Gold and Cobalt explorer Alloy Resources Limited (ASX:AYR) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Viner (Internal) | |
| ABSTRACT: | Australian Gold and Cobalt explorer Alloy Resources Limited (ASX:AYR) (Alloy or the Company) is pleased to provide an update on exploration drilling activities at the Horse Well Gold Project Joint Venture (Horse Well JV) (Alloy 51%: Doray Minerals Limited 49%) during May. The Horse Well JV is located in the north-east goldfields of Western Australia and is adjacent to Northern Star’s Limited’s Jundee Gold Mine (Figure 1). A number of Companies, including Echo Resources and Renegade Exploration are actively exploring in the region and new discoveries have been made recently. The Company is currently sole funding exploration to earn up to 60% in the Joint Venture. A total of fourteen holes for 1,877 metres were completed at Warmblood, Filly SW and Dusk til Dawn prospects. The aim was to test concepts for extensions and orientations of higher grade zones within known mineralised areas. Executive Chairman Mr Andy Viner said “ The results at Warmblood and Filly SW confirm that the Horse Well JV area has potential for high grade gold mineralisation, and that this can occur over extensive strike lengths”. ‘Our interpretation suggests the mineralisation style can be narrow and in ‘poddy’ very high-grade shoots related to the Celia Shear system and needs tight targetted drilling. Within the project The Celia Shear has numerous prospects from soil anomalies to drill anomalies that demonstrates the significant exploration potential over a 60 kilometre strike length”. | |
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