Alloy Resources announces Horse Well JV drilling results
THE DRILL SERGEANT: Alloy Resources (ASX: AYR) informed the market that a program of air-core exploration drilling has been completed at the Horse Well gold project in the North Eastern Goldfields of Western Australia.
The Horse Well gold project is a Joint Venture with Doray Minerals (ASX: DRM), which as manager, advised Alloy Resources of the completion of the 28,000 metre air-core drilling program last week.
Alloy said the first phase of this program consisted approximately 72 holes that infill drilled to 200/100m x 100m around existing +100ppb gold anomalies at the Crack of Dawn South and Big Kahuna areas.
Drilling at Big Kahuna confirmed a broad 1.5km x 0.5km north-east trending area of strong supergene mineralisation through the Crack of Dawn granite, which the JV believes could represent a yet to be defined mineralised structure that also has some control on the Dusk til Dawn prospect gold mineralisation.
Better results returned from the drilling included:
4 metres at 0.55 grams per tonne gold from 36 metres downhole (mdh);
4m at 1.34g/t gold from 16mdh;
4m at 0.88g/t gold from 36mdh;
8m at 0.6g/t gold from 48mdh.
“This Big Kahuna trend had been evidenced from earlier drilling by Alloy and thereafter by the Joint Venture,” Alloy Resources said in its ASX announcement.
“A number of holes in granite within the trend north of Dusk til Dawn had gold mineralisation associated with sericite and pyrite alteration at the base of air-core holes which indicated a probable bedrock structure.
“This potential is now being enhanced by the emerging supergene mineralised trend.
“A further observation would be that the early Dusk til Dawn supergene air-core anomaly was very similar in tenor to these more recent results, and this fact gives added weight to the likelihood that a primary source potentially exists within the trend.
“Big Kahuna now becomes a target for future infill air-core and eventual RC drilling.”
A second phase of the drilling involved a large number of holes allocated to regional first pass drilling of an untested 7.5 kilometre section of the greenstone belt south of the Django prospect.
Alloy Resources said results from this second phase will be reported once all sample assays are to hand and the data has been compiled and interpreted.
The Horse Well Joint Venture comprises Doray Minerals (60%) and Alloy Resources (40%) and is completing a $2 million exploration program during 2016.
Email: info@alloyres.com
Website: www.alloyres.com