Alloy Resources Learns of Large New Anomalies at Horse Well

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) has been informed by Joint Venture partner Doray Minerals (ASX: DRM) of final results from a major program of air‐core exploration drilling completed at the Horse Well gold project in the North‐Eastern Goldfields of Western Australia late last year.

Alloy Resources said that JV manager Doray Minerals advised that results from the final 390 holes totalling 23,637 metres of a major air‐core drilling program have been received, compiled and interpreted.

Alloy said the drilling has outlined three large anomalous gold trends extending south from the Django and Crack of Dawn South prospects:

A 7‐kilometre‐long eastern anomaly;

A 6‐kilometre‐long central anomaly; and

A 3‐kilometre‐long western anomaly.

The eastern and central anomalies are associated with a newly-defined extensive granite intrusive that appears to intrude the Celia Shear at the contact between western sedimentary units and eastern mafic units.

Better results from the drilling included:

HWAC874:
20 metres at 0.27 grams per tonne gold from 56 metres downhole (mdh);

HWAC915:
8m at 0.84g/t gold from 64 mdh;

HWAC995:
4m at 1.49g/t gold from 72 mdh;

HWAC1039:
8m at 0.35g/t gold from 56 mdh;

HWAC1053:
4m at 0.84g/t gold from 48 mdh;

HWAC1144:
28m at 0.33g/t gold from 52 mdh; and

HWAC1153:
4m at 0.9g/t gold from 76 mdh.

“Once again, we continue to generate new gold anomalies from first pass drilling which, to me, shows that we have a very large mineralised system in the area,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“We now have a number of compelling new targets that have excellent potential to be new gold discoveries.”

Email: info@alloyres.com

Website: www.alloyres.com