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Alloy Resources Ltd.
Summary
| Project: | Horse Well | |
|---|---|---|
| Deposit: | Horse Well | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-10-2016: Alloy Resources Ltd. announces an Exploration/Drilling Update report for its Horse Well deposit at the Horse Well project. JV with Doray Minerals Ltd. - drilling results incl. 4m @ 1.34g/t Au from 16m. Alloy Resources Limited (ASX: AYR, Alloy | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Viner (Internal) | |
| ABSTRACT: | Alloy Resources Limited (ASX: AYR, Alloy or the Company) is pleased to confirm that a major program of air-core exploration drilling has been completed at the Horse Well Gold Project in the North Eastern Goldfields of Western Australia. Joint Venture Manager Doray Minerals Limited (ASX:DRM, Doray) has advised that; The 28,000 metre air-core drilling programme was completed last week. Alloy can report on the first phase of this program which saw approximately 72 holes that infill drilled to 200/100m x 100m around existing +100ppb gold anomalies at the Crack of Dawn South and Big Kahuna areas. The Big Kahuna drilling confirmed a broad 1.5 km x 0.5 km north-east trending area of strong supergene mineralisation through the Crack of Dawn granite. This may represent a yet to be defined mineralised structure that also has some control on the Dusk til Dawn prospect gold mineralisation. The second phase of the drilling saw a large number of holes allocated to 800 metre x 160 metre regional first pass drilling of an untested 7.5 kilometre section of the greenstone belt south of the Django prospect. Results from this second phase will be reported once all sample assays are to hand and the data has been compiled and interpreted. The Horse Well Joint Venture comprises Doray Minerals Limited (60%) and Alloy Resources Limited (40%) and is completing a $2 million exploration program during 2016. The 1,000 km2 Project covers 60 strike kilometres of greenstone belt located 50 kilometres north of the large 240 koz p.a Jundee Mine operated by Northern Star Limited (Figure 1) Exploration during the September quarter has been focussed on first and second pass geochemical drilling to define new gold anomalies beneath the sand covered northern ‘Dawn’ prospects area. | |
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