Alchemy Resources Identifies New Karonie South Drill Targets

THE DRILL SERGEANT: Alchemy Resources has identified new drill targets in the southern portion of the company’s 100 per cent-owned Karonie gold project in Western Australia.

Alchemy Resources completed field mapping in Q2CY21 that was part of a review focussed on defining drill targets from “camp scale” prospective areas that had been defined in the Karonie Structural Review which the company completed earlier this year.

The upshot from this field work is five high- priority drill targets along a prospective corridor immediately south of the Aldiss Mine currently operated by Silver Lake Resources (ASX: SLR).

The targets include the new greenfields, Western Brown lake target which has seen no exploration of any kind over a four square kilometres area.

Other targets include, Gilmour, Challenger, Challenger South and Esplanade which have seen no modern exploration since the early 2000s.

Phase 2 drilling is planned to test the southern areas of the Karonie tenements that contain the Challenger, Gilmore and Esplanade targets.

“The detailed mapping program has identified some excellent walk-up drill targets to test in the second half of 2021,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“We are excited to get rigs back on the ground in an area which hasn’t seen any modern exploration in 10-20 years.

“The identification of the new greenfields Western Brown target is also very promising, and this area is now a priority target for RC drilling in coming months.

“Western Brown is a large lake target with classic geological and geophysical indicators and has had no exploration of any kind.

“Near term we expect to get drone magnetics flying to better refine our targeting prior to drilling in the second half of this year.”