Alliance Resources Confirms New Weednanna Gold Shoot

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released results from the third round of reverse circulation (RC) drilling at the Weednanna gold prospect.

The Weednanna prospect forms part of the Wilcherry project Joint Venture in South Australia between Alliance (61.36%) and Tyranna Resources (ASX: TYX) (38.64%).

Alliance Resources completed the RC drilling program in early November 2017, which was designed to define the geometry of Targets 1, 2 and 3 with step-out drilling and to test a new prospect – Target 4.

A total of 21 RC holes were drilled (17WDRC050-70), 15 of which returned intercepts of greater than one gram per tonne gold, with four holes returning greater than 50g/t-metres gold.

Alliance claims the drilling confirms a new high-grade gold zone within the project complex.

Results include:

35 metres at 3.65 grams per tonne gold from 43m (Target 1), including 9m at 8.91g/t gold from 44m;

6m at 13.63g/t gold from 59m (Target 2), including 3m at 26.6g/t gold from 62m;

15m at 18.21g/t gold from 107m (Target 4), including 7m at 35.94g/t gold from 109m; and

3m at 25.45g/t gold from 81m (Target 4), including 1m at 74.2g/t gold from 81m.

“These latest and final results from the drilling program at Weednanna clearly indicate to us that we have a significant high-grade gold project on our hands,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“We expect to commence progressing Weednanna towards a resource definition, encouraged by these latest widths and grades.

“Weednanna continues to impress and with further exploration planned we believe it has the scale and grade to be a company making project.”