THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) reported on recent drilling results received from the company’s 100 per cent-owned Karonie gold project in Western Australia.
Alchemy Resources received composite samples from a Phase 1 Reverse Circulation (RC) drill program at the KZ5, Taupo and Parmelia prospects that have been resampled on one-metre intervals, highlighting high-grade zones.
Alchemy carried out the Phase 1 drill program at Karonie to focussed on infilling and extending shallow zones of mineralisation at Parmelia, Taupo and KZ5.
Anomalous intercepts were returned from most holes with 1m resamples confirming previous 4m composite samples, giving better granularity on grades and widths.
One metre resamples from the Karonie Phase 1 drill program returned results including:
1m at 15.3 grams per tonne gold from 57m;
10m at 1.54g/t gold (25m) in including 1m at 4.52g/t gold (24m) and 4m at 1.98g/t gold (30m); and
3m at 1.45g/t gold (97m).
1m at 4.02g/t gold within 3m at 1.78g/t gold (106m); and
1m at 3.41g/t gold (49m) within 3m at 1.58g/t gold (49m).
“Drilling at Karonie has highlighted the significant potential of the KZ5 and Taupo prospects with good grades and widths that occur close to surface,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.
“The one-metre resampling has returned some exceptional grades, including 1m at 15.3 grams per tonne gold, which is an exciting development and the highest-grade intercept ever returned at KZ5.
“Clearly more drilling is required to define the strike and depth of mineralisation in these areas, and planning is already underway for follow-up drilling.
“With re-sampling now complete, we have commenced 3-D modelling, with a view to potentially calculating a maiden resource at Karonie in the 2HCY21.”