Alliance Resources Identifies New Gold Anomaly at South Nepean

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) claimed to have identified a large new gold anomaly at the company’s Nepean South nickel-gold project in Western Australia’s Eastern Goldfields.

Alliance Resources considers the anomaly to be of some significance, given its indicated size and location, 26 kilometres southwest of Coolgardie and prospective for both komatiitic-hosted nickel sulphide deposits and greenstone-hosted orogenic gold deposits.

“These greenstone belts are consistently known markers for gold mineralisation in the Eastern Goldfields,” Alliance Resources said in its ASX announcement.

Alliance completed auger soil sampling at Nepean South, from which it defined a coherent gold in soil anomaly greater than 7.5 ppb gold to the north of a previously defined (southern) anomaly.

The dimensions of the new anomaly are approximately 3,000m east-west x 1,500m north-south.

“The recent gold in soil sampling results are of higher tenor than those previously returned from the area, with anomalous samples from all soil sampling now determined to range between eight and 15 ppb gold and highly anomalous samples greater than 15 ppb gold,” Alliance said.

“There are 79 highly anomalous samples, with peak results of 108 ppb gold, 44 ppb gold and 41 ppb gold.”

Alliance outlined its next phase of exploration at the Nepean South project being infill auger soil sampling in the north of the survey area to better define the distribution of gold as a vector towards primary gold mineralisation.

To that end a 396 sample program is proposed using a 50 metre by 50 metre spaced grid.

This work will conclude auger soil sampling at the Nepean South project and provide targets for aircore drill testing

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au