Alloy Resources Field Work Progresses Ophara Cobalt Project

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) has completed a round of field exploration work at the company’s Ophara project located 50 kilometres west of Broken Hill in New South Wales.

Alloy Resources explained the recent field examination activities of historical GEOTEM anomalies involved a systematic inspection of EM anomaly peaks and trends carried out by traversing the project area by vehicle and on foot, covering an area of approximately 70 square kilometres.

The company said the work defined new areas of apparent gossanous iron‐ rich outcrop and float that may be the remnants of cobalt‐gold mineralisation associated with pyrite.

Two areas (Areas A and B) contained historic prospecting pits on material that appeared to have strong similarities to the Great Goulburn mineralisation.

Alloy said the field traversing also enabled it to map areas of outcrop and cover rocks, from which it observed that approximately 60 per cent of target areas did not have outcrop, being covered by a thin layer of transported sand and eroded ‘colluvial’ rock dominated by pegmatitic material from the top of most hills.

In and around Dams it was noted that semi‐fresh rock was often excavated from shallow depths suggesting no false EM anomalies are likely to be present related to salty water in deep alluvial channels.

“The overall assessment of the surface in the area is that the aerial EM anomalies are highly likely to represent subsurface pyrite conductors – particularly as two of the outcropping conductor trends have historical workings on them,” Alloy Resources said in its ASX announcement.

“Further exploration will include some soil sampling over elevated areas, however detailed new aerial electromagnetic surveying is also likely to define first pass drill targets.

“A total of forty rock chip samples and eight Lag soil samples were collected.

“Sample results are expected to be received shortly.”

Email: info@alloyres.com

Website: www.alloyres.com