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Alloy Resources Ltd.
Summary
| Project: | Horse Well | |
|---|---|---|
| Deposit: | Horse Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-8-2019: Alloy Resources Ltd. announces a Resource Estimation report for its Horse Well deposit at the Horse Well project. Revised mineral resource estimate for project. Australian Gold and Cobalt explorer Alloy Resources Limited (ASX:AYR) (Alloy or the | |
| Resources: | (Resource, Inf.): 1.2328Mt @ 2.2g/t Au | |
| CP/QP: | [Resources]: Lauritz Barnes, Andrew Viner (Trepanier Pty Ltd.;Internal) | |
| ABSTRACT: | Australian Gold and Cobalt explorer Alloy Resources Limited (ASX:AYR) (Alloy or the Company) provides the following update in regards to exploration activities at the Horse Well Gold Project Joint Venture (“Horse Well”) (Alloy 51%: Silver Lake Resources Limited 49%). The Company is currently sole funding exploration to earn up to 60% in the Project. The Company commisioned consulting group Trepanier to complete new updated JORC Mineral Resource Estimates for gold mineralisation at the two advanced prospects of Palomino and Filly South West. Some additional drilling and improvement of the database at both prospects enabled geological and grade modelling to be completed with increased accuracy using methodology the same as recent estimates for Warmblood and Dusk til Dawn. A summary of results is presented below, with a detailed Mineral Resource Statement following. The Company has completed revised Mineral Resource Estimates for the Palomino and Filly South West prospects where additional drilling and improvements to data and geological interpretation has warranted such estimate. In addition the revised estimates are now consistent in method with Mineral Resources recently announced for the Warmblood and Dusk til Dawn prospects (see ASX release on 11 April 2019). The current gold Mineral Resources at Horse Well, including details necessary for compliance with JORC 2012, are listed in Table 1 (0.5g/t Au cut-off) and Table 2 (1.0g/t Au cut-off) below plus the paragraphs following. Table 3 (0.5g/t Au cut-off) breaks down both Palomino and Filly SW further into oxidation zones. Figures 1 and 2 show grade tonnage curves for each deposit and Figures 3 to 9 include plan maps, cross-sections and long sections to illustrate each deposit. | |
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