Alliance Resources Strikes First Weednanna Blow for 2019

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) released the latest results from aircore drilling for gold underway at the company’s Wilcherry Project Joint Venture in South Australia between Alliance (79.01%) and Tyranna Resources (ASX: TYX) (20.99%).

Alliance Resources carried out the drilling at Weednanna East and close to the Weednanna gold deposit.

Aiilaince completed a total of eighty-five (85) aircore drillholes for 3,101 metres as a first pass test to extend known gold in regolith anomalism at Weednanna East.

This drilling program consisted of four lines of 50m by 200m spaced holes designed to test around the existing gold in soil and regolith anomalism and extend coverage to the west of existing RAB drilling at Weednanna East to cover a series of northwest striking faults.

Assay results have now been received with four holes returning greater than 100ppb gold with a best result of:

18WDAC078
2 metres at 1.31 grams per tonne gold from 49m.

The zone of discontinuous greater-than 100ppb gold anomalism extends over 1,000m and is open in the north.

Alliance explained that most of the gold anomalism has a northeast trend and is located towards the end of hole, near the saprolite/saprock boundary.

Given the iron-poor felsic nature of these host rocks, this is where the company expects gold in regolith anomalism to concentrate.

Alliance interpreted the results to show the magnitude and distribution of gold in the regolith may be indicative of primary gold mineralisation and has therefore determined further drilling is warranted to better define the gold in regolith anomalies before bedrock drill testing.

“Weednanna East is the first regional gold exploration target to be tested proximal to the Weednanna gold deposit,” Alliance Resources managing director Steve Johnston said in the company’s announcement to the Australian Securities Exchange.

“We are very encouraged by these aircore drilling results which indicate to us the prospectivity of the district.”

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au