Alloy Resources In-The-Hunt for great Goulburn Cobalt

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) has completed an RC drill program at the company’s Ophara project, located 50 kilometres west of Broken Hill in New South Wales.

Alloy Resources carried out the 12 hole RC drill program, which had been designed to define the strike and depth potential of the known cobalt-gold mineralisation at the Great Goulburn prospect.

Results so far include:

AORC004
12 metres at 0.15 per cent cobalt and 0.29 grams per tonne gold from 57m to 69m, including 6m at 0.2 per cent cobalt and 0.41g/t gold from 59m;

AORC009
5m at 0. 1 per cent cobalt and 0.31g/t gold from 60m to 65m; and

AORC012
19m at 0.1 per cent cobalt and 0.27g/t gold from 92m to 111m, including 6m at 0.11 per cent cobalt and 0.35g/t gold from 95m to 101m and 6m at 0.12 per cent cobalt and 0.29g/t gold from 105m to 111m.

Alloy said the results it had received to date include the highest-grade gold and cobalt results from the project to date and combined with the definition of new unexpected areas of mineralisation to indicate the potential for widespread gold-cobalt mineralisation within the Great Goulbourn project area.

The company said it expected to receive all remaining drill sample results, along with a number of rock chip samples before the end of February.

“Whilst it is early days, these initial results are starting to show that there is widespread cobalt-gold mineralisation in the Great Goulburn prospect area,” Alloy Resources executive chairman Andy Viner said in the company’s announcement to the Australian Securities Exchange.

“What encourages me the most is that holes AORC004 and AORC012 were testing away from the known quartz-magnetite unit and they have both delivered new zones of mineralisation – opening up further areas for definition of mineralisation.”

Email: info@alloyres.com

Website: www.alloyres.com