THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) is the latest company to join the ranks of the ‘we’re not going to miss out if there’s a sniff of lithium’ companies by commencing lithium exploration programs on its Lake Rebecca projects in Western Australia.

Alchemy Resources is currently progressing project wide soil geochemistry programs, which it expects to have finished by the end of November 2023.

The soil geochemistry comes on the heels of recent field reconnaissance undertaken by Alchemy as well as a detailed geochemical review of lithium prospectivity that led to a decision to conduct regional soil sampling to assess the potential of all project areas at Lake Rebecca.

It is not surprising exploration for lithium has not been historically carried out, with the majority of the tenure having only ever been explored for gold, due mainly to its proximity to areas of gold production.

Previous soil sampling carried out by Alchemy on the southern areas at Middle Tank prospect identified lithium in soils anomalism.

“Alchemy was very encouraged by the first round of soil sampling at Middle Tank prospect, so the decision was made to cover the rest of Lake Rebecca to assess the lithium potential,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“The regional soils program will give us a broad picture of lithium anomalism and will help generate targets for our 2024 exploration campaign.

“We are excited to have boots on the ground with the soil sampling well underway at Lake Rebecca.

“At the same time we are preparing to test our Karonie lithium caesium tantalum (LCT) Pegmatite targets and hope to commence drilling in early December 2023.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has completed its first Reverse Circulation (RC) drill program at the company’s 100 per cent-owned Karonie lithium-gold project near Kalgoorlie in Western Australia.

Alchemy Resources reported that geological logging of drillholes has defined multiple zones of pegmatites with zones up to 700 metres strike extent within the northern part of the Hickory prospect.

The company has interpreted these pegmatites to extend at least 150m from surface and remain open with varying widths from 1m up to 27m downhole.

The zone remains open along strike and to the west.

“The discovery of extensive thick stacked pegmatites at Hickory is an outstanding result,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“This confirms our model that mapped pegmatites are continuous at depth, have a stacked geometry and continue to the north and west under the shallow alluvial cover which extends for roughly three kilometres to the north masking any surface geochemical expression.

“We will now start planning follow-up programs so we can hit the ground running immediately once assays are received.

“In addition, we will also look at other techniques such as gravity and ground penetrating radar to try and outline pegmatites under alluvial cover.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Web: www.alchemyresources.com.au

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has identified additional outcropping pegmatites at the company’s 100 per cent-owned Karonie gold project located east of Kalgoorlie in Western Australia.

Alchemy Resources recently concluded mapping that identified a pegmatite cluster that has doubled the strike length at the project’s Cherry and Hickory prospects, as well as identifying multiple outcropping pegmatites at Pecan in the north.

At Cherry and Hickory pegmatites have now been defined over an area of 1.5 kilometres by 2 kilometres, doubling the previous mapped strike extent.

At the Pecan prospect, outcropping pegmatites have been identified over a strike length of 400 metres.

“The mapping has now identified a cluster of pegmatites at Karonie,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“At Hickory and Cherry, we’ve doubled the strike length of mapped pegmatites and at Pecan we’ve discovered multiple pegmatite outcrops across a one kilometre wide area.

“We expect the infill soils will zero in on zones which sit under the thin surface cover, and this will help us plan the next steps.

“The rock-chip assays are all showing very high tenor pathfinder anomalism which plots within the highly evolved and fractionated granite chemistry, telling us that we are exploring in exactly the right spot.

“Our next steps will be the commencement of infill soils and detailed structural mapping due to start imminently to zero in on target zones for drilling later this year.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: admin@alchemyresources.com.au

Web: www.alchemyresources.com.au

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) has kicked off a new round of Reverse Circulation (RC) drilling at the company’s 100 per cent-owned Karonie gold project near Kalgoorlie in Western Australia.

Alchemy Resources indicated the drill program will include holes at targets at Gilmore, which it had identified from high-resolution magnetics and detailed mapping completed in 2021.

The program is EIS co-funded by the WA Department of Mines, Industry Regulation and Safety (DMIRS).

Other drilling at Karonie East will entail infill drilling both along strike, and at depth, of the previously encountered aircore intercepts.

A further single RC hole at the KZ5 target will test a historic untested electro-magnetic (EM) plate located along strike of the existing resource.

“We are excited to be back out at Karonie drill testing our priority targets at Gilmore where there has been no RC follow-up of mineralised intercepts since 2002,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“At Karonie East we are testing mineralisation at depth, following up on the success of our recent aircore program.

“At KZ5 an untested EM plate lines up with our revised interpretation of mineralisation, which could add further strike length to the resource.

“Overall, our activities are proceeding in line with our 2022 objectives, testing existing walk-up and advanced stage targets at Karonie.”

Email: admin@alchemyresources.com.au

Web: www.alchemyresources.com.au

THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) was handing out Tim Tams at the 2022 RIU Explorers Conference as well as news of the first four-metre composite assays from aircore drilling at the company’s 100 per cent-owned Karonie project in Western Australia.

Alchemy Resources reported drill results that it says have confirmed the relationship between the magnetic highs and structural features that the targeting was based on, with strong results in proximity to holes drilled nearly 20 years ago.

Assay result highlights include:

KEAC009
4 metres at 2.89 grams per tonne gold from 48m;

KEAC045
4m at 2.15g/t gold from 84m; and

KEAC075
4m at 1.59g/t gold from 20m.

“At Karonie East, composite aircore assays have intersected numerous zones of mineralisation in saprolite along a trend about 600 metres in strike length in the northern area,” Alchemy Resources chief executive officer James Wilson said in the company’s ASX announcement.

“In the south we are seeing both primary and paleochannel hosted gold mineralisation with results in two separate areas over a strike extent of two kilometres.

“Importantly we have only received about two thirds of the assays from the drill program.

“A full interpretation of the significance of these results is not possible until all the assays have been received, but our early indications show that we are finding mineralisation in areas that were passed over by previous explorers.”

Alchemy anticipates a complete interpretation of the Karonie aircore drill results will be completed once it receives the remaining composite assays and single metre assays.

Additional drill testing is planned and will coincide with a Phase 3 drill program designed to test the Gilmore targets later in the year.

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

Email: admin@alchemyresources.com.au

Web: www.alchemyresources.com.au