Alchemy Resources Wins Lithium Region Exploration Licence Ballot

THE BOURSE WHISPERER: Alchemy Resources’ (ASX: ALY) numbers have come up with the company winning a recent ballot for exploration licence E28/3207 at its 100 per cent-owned Karonie lithium and gold project in Western Australia.

Alchemy Resources, via wholly-owned subsidiary Goldtribe Corporation Pty Ltd, won a ballot for exploration licence application (E28/3207).

The company explained this tenement forms part of Alchemy’s Karonie project and is located 120 kilometres to the east of Kalgoorlie and is contiguous with both Global Lithium (ASX: GL1) to the east and Breaker Resources (ASX: BRB) to the north.

“E28/3207 is strategically located on the doorstep of Global Lithium Resources’ Manna deposit, and along strike of Breaker Resources’ Lake Roe deposit,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“The acquisition of this tenement builds on our footprint of highly prospective and strategic tenure which sits in proximity to some of the most prolific lithium and gold projects in Western Australia.

“The new lease covers 24.8 square kilometres of greenstone and intrusive units and has seen limited drill testing with modern exploration methods.

“We are delighted to have secured this ground and look forward to starting work as soon as the tenement is granted.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.alchemyresources.com.au