Alloy Resources Confirms Great Goulburn Cobalt Potential

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) notified the market of results from a recently completed RC drill program at the company’s Ophara project, located west of Broken Hill in New South Wales.

Alloy Resources explained the 12 hole RC drill program was designed to define the strike and depth potential of the known cobalt‐gold mineralisation at the Great Goulburn prospect.

The company said the results indicate the potential for widespread gold‐cobalt mineralisation within the Great Goulbourn project area.

The drilling demonstrated the mineralisation to be strongest where a quartz magnetite unit is intersected by sulphide-rich fluids.

There also appears to be quartz vein related mineralisation away from these units.

“Our interpretation has been greatly enhanced following this drill program,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“The results are telling us that we have a combination of strata‐bound mineralised quartz‐magnetite units, but also there are areas where mineralisation is more related to faults and quartz veins with sulphide.

“This combination is exciting as it is related to similar controls as seen at the Mutooroo deposit located 10 kilometres to the south west.”

A review of historical data by Alloy produced electromagnetic survey data from 1991 completed by BHP Minerals.

The Great Goulburn prospect is only one anomaly amongst numerous within the area.

There has been little or no drill testing of these other EM anomalies offering excellent targets for future exploration.

Email: info@alloyres.com

Website: www.alloyres.com