Alloy Resources Finalises 2019 Horse Well Drilling Results

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) finalised results for drilling completed in 2019 at the company’s Horse Well gold project Joint Venture with Silver Lake Resources (Alloy 60%: Silver Lake Resources 40%).

Alloy Resources’ Horse Well JV is located in the north-east goldfields of Western Australia and is adjacent to Northern Star’s Jundee Gold Mine.

Alloy is the manager and operator of the JV and is currently sole funding an RC drilling program to earn additional equity.

Results completed for drill testing of the Warmblood shallow high-grade mineralised prospect confirmed shallow supergene mineralisation and defined a new zone, including:

8 metres at 0.91 grams per tonne gold from 16 metres downhole (mdh)
9m at 0.99g/t gold from 29 mdh; and
8m at 1.76g/t gold from 100 mdh.

Alloy explained the most northern hole of the program, AHWR106 was designed to test below previous drilling and has confirmed a typical sub-vertical structure.

The hole was drilled deeper where strong silica-sulphide alteration was observed, and assays of 8 metres at 1.76g/t gold have been returned to the end of the hole indicating a new mineralised structure has been discovered.

“There are numerous significant assays from four metre composite samples,” Alloy Resources said in its ASX announcement.

“The individual one metre samples are stored at the project and will be collected and submitted for analysis.

“Upon receiving these final assays, new geological models will be interpreted and Mineral Resource updates completed.

“Extra one metre samples for metallurgy were also collected from interpreted mineralised zones during drilling.

“Mineralised areas will be reviewed and composite metallurgical samples defined before submission for basic gold leaching and gravity recovery testwork.

“An orientation soil sampling program over the Big Daddy prospect has samples currently being prepared and analysed.

“Initial results are expected in the next two weeks and further analyses is likely to follow.”