Alchemy Resources Outlines New Gold System at Karonie East

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) released assay results from aircore drilling carried out at the Karonie East target within the company’s Karonie project in the Eastern Goldfields of Western Australia.

Alchemy Resources declared the results to have outlined a large north-south trending geochemical anomaly.

Final assays received for the Karonie East drill program outline two large systems of anomalous gold mineralisation along the Karonie East corridor.

The two new zones of gold anomalism have strike length of 950 metres and 4,300m, returning results that include:

KEAC009
2 metres at 2.7 grams per tonne gold from 48m, including 1m at 3.99g/t gold from 48m, and 1m at 1.41g/t gold from 49m;

KEAC045
2m at 3.79g/t gold from 84m, including 1m at 5.24g/t gold from 84m, and 1m at 2.34g/t gold from 85m; and

KEAC075
4m at 1.59g/t gold from 20m.

“The drill program has intersected numerous zones of mineralisation close to areas that were previously drilled on wide spaced RAB lines which failed to penetrate the near surface cover,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“Importantly with our recent drilling, the new mineralised intercepts were logged in saprolite, so we haven’t tested the primary bedrock zone of mineralisation from these areas.

“This will be a key target in follow-up drilling later this quarter.”

 

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Email: admin@alchemyresources.com.au

 

Web: www.alchemyresources.com.au