Alliance Resources Hits Further High-Grade Gold at Weednanna

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released provisional results for the fourth round of reverse circulation (RC) drilling undertaken at the Weednanna gold prospect, part of the Wilcherry Project Joint Venture between Alliance (67.35%) and Tyranna Resources (ASX: TYX) (32.65%).

Alliance Resources explained the RC drilling program was completed in March and was designed to define the geometry of Target 4 at the project.

Drilling consisted 19 holes testing Target 4 and three initial holes testing the new Target 5.

A total of 22 RC holes were drilled (18WDRC001-022) and preliminary results have been received for 17 holes.

Of these, 14 holes reported intercepts greater than one gram per tonne gold, with three holes returning >50g/t-m gold.

Alliance said the drilling at Weednanna Target 4 continued to return high-grade gold results, including:

16 metres at 3.2g/t gold from 84m;

12m at 10.2g/t gold from 92m, including 4m at 28.1g/t gold from 96m; and

4m at 12.4g/t gold from 52m.

The drilling also confirmed a new Target 5 lode returning a best intercept of:

8m at 2.2g/t gold from 164m.

“These latest results from drilling at Targets 4 and 5 indicate very robust gold intercepts and reinforces our view of Weednanna as a growing high-grade gold system that we are continuing to progress successfully with each round of drilling,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

Alliance Resources followed up with the commencement of a high-resolution gravity survey at the Weednanna gold prospect, during which 2,550 stations will be surveyed, comprising 1,900 stations using a 25-metre grid over the central Weednanna area and 600 stations using a 50m grid elsewhere.

Alliance expects the high-resolution gravity survey at Weednanna and surrounds will assist with mapping the sub-surface geology, particularly the target corridors of calc-silicate and magnetite skarn that host high grade gold shoots.

The data will complement the existing airborne magnetic, induced polarisation and drilling datasets at Weednanna and will be utilised for constrained 3D inversion modelling to assist with targeting new gold lodes.

“Successful drill results have shown us that this deposit has high potential for economic development with what we’ve discovered so far,” Johnston said.

“This close-spaced gravity survey will provide a powerful targeting tool to help unlock the further potential of the high grade Weednanna gold system.”