THE DRILL SERGEANT: Alliance Resources (ASX: AGS) has commenced regional diamond drilling for base metals at the Wilcherry project, along with Joint Venture partner Tyranna Resources (ASX: TYX).
The Wilcherry project is located within the southern part of the Gawler Craton in the northern Eyre Peninsula, South Australia.
“Our exploration objectives are twofold, (1) to access the economic potential of the high grade Weednanna gold prospect for development, and (2) to assess the regional potential for base metals,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.
“Should we make a base metals discovery, it has the potential to materially and positively impact the company’s value.
“In support of this, previous exploration suggests the project is highly prospective for gold, iron, tin, copper, zinc, lead and silver.”
Alliance Resources explained the drilling is expected to possibly take up to 12 weeks to complete on single shift, however, initial results are anticipated to start flowing through within four weeks from completion of the first hole.
During February, the JV completed ground moving loop electromagnetic (MLEM) surveys over the last of the heli-electromagnetic (HEM) target areas to better define those HEM conductors.
Fourteen MLEM targets were defined as follows:
Eight targets were RC drilled for 1,256 metres during February and March (results awaited); and
Six are planned to be drilled using a multipurpose rig capable of rotary mud pre-collars and triple tube diamond core tails for 1,960 metres.
In addition to the drilling above, hole 17EMRC006 at HP2 (North), drilled in late 2017, was abandoned at 162m due to broken ground and clay, yet intersected 3 metres at 0.4 per cent zinc from 159m to end of hole.
Alliance Resources said the diamond drilling will return to commence at the MLEM target HP2 (North) in the western part of the project area to test the zinc mineralisation, then move to HP2 (South) and the remainder of the MLEM targets.