Alchemy Resources Completes RC Drilling on Karonie Lithium Targets

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has completed its first Reverse Circulation (RC) drill program at the company’s 100 per cent-owned Karonie lithium-gold project near Kalgoorlie in Western Australia.

Alchemy Resources reported that geological logging of drillholes has defined multiple zones of pegmatites with zones up to 700 metres strike extent within the northern part of the Hickory prospect.

The company has interpreted these pegmatites to extend at least 150m from surface and remain open with varying widths from 1m up to 27m downhole.

The zone remains open along strike and to the west.

“The discovery of extensive thick stacked pegmatites at Hickory is an outstanding result,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“This confirms our model that mapped pegmatites are continuous at depth, have a stacked geometry and continue to the north and west under the shallow alluvial cover which extends for roughly three kilometres to the north masking any surface geochemical expression.

“We will now start planning follow-up programs so we can hit the ground running immediately once assays are received.

“In addition, we will also look at other techniques such as gravity and ground penetrating radar to try and outline pegmatites under alluvial cover.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.alchemyresources.com.au