Alliance Resources Identifies New Weednanna Gold Shoots

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) has postponed the release of a maiden Mineral Resources at the company’s Weednanna gold prospect in South Australia.

Alliance Resources explained the postponement is due to recently-competed 3D modelling of historic gold mineralisation being brought into JORC Code 2012-compliance.

“The 3D modelling of this historic gold mineralisation is essential for the purposes of planning exploration in order to grow the project going forward,” Alliance Resources said in its ASX announcement.

“The historic gold mineralisation is now reported in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code), in order that it may be included in the maiden mineral resource estimate.

“Accordingly, the timing for completion of the mineral resource estimate has to be extended whilst this work progresses.”

Alliance said that 3D geological modelling completed at Weednanna in support of the maiden mineral resource estimate was initially planned to be restricted to the areas of highest drilling density around gold mineralised Shoots 1 to 4.

However, as Alliance’s understanding of the lithological and structural controls on the distribution of gold has evolved the importance of additional gold mineralisation was recognised from drilling intercepts in the historical database.

Thirteen gold shoots were identified during the 3D modelling process, including Shoots 1 to 4 that have been the focus of Alliance’s drilling activities during 2017 and 2018.

During 2017 and 2018 Alliance has systematically completed re-logging of all available RC chips and diamond core from Weednanna to provide detailed data for geological interpretation and 3D modelling.

Where drill chips or diamond core were not available for re-logging, the company re-digitised historic geological logging sheets to ensure the capture of all available geological data.

In total, 256 RC holes for 20,889 metres and 40 diamond holes for 4,779.6 metres were re-logged in addition to the 92 RC holes for 14,341 metres drilled by Alliance during 2017 and 2018.

Cross-sectional interpretation was completed on 25m spaced traverses along the 1,325 metre strike length of the prospect.

The Weednanna prospect forms part of the Wilcherry project Joint Venture between Alliance (71.09%) and Tyranna Resources (ASX: TYX) (28.91%).

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au