Company
ASX:ALY
Alchemy Resources Limited is an Australian gold, base metal, and nickel-cobalt exploration company focused on growth through the development of high quality exploration projects within Australia. The company's vision is to build a portfolio of quality mineral resources through innovative exploration and strategic acquisition, with the aim of realising value to shareholders through the mining or sale of mineral discoveries.
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James Wilson, who took over the reins in 2021 at what has been described as an exciting time for the company, said the exploration timeline was very much on target and it plans on “ramping up activities” next quarter on multiple fronts.
“The review of the West Lynn Project is particularly exciting since nickel prices are at an 11-year high, and high purity alumina is a key component in lithium batteries," says CEO.
The high-resolution magnetics flown in late 2021 highlighted numerous targets which pin-pointed high tenor structures in proximity to existing open pit mines. The previous holes, which were drilled over 20 years ago, did not penetrate the y
Drilling is planned to begin this month at the Karonie Gold Project with drilling and other exploration also planned at the Yellow Mountain and Lake Rebecca projects.
The drill rig has been booked to start in the first week of January 2022 and government approvals have been granted for the start of the drill program.
Volt Resources is up 15.38%. VRC acquired three licence applications in Serbia – Jadar North, Petlovaca and Ljig - that are considered prospective for lithium-borate mineralisation.
“The highly competitive EIS co-funding grant adds weight to the prospectivity as it is determined by an independent panel of experts. We look forward to getting boots on the ground to start testing these high-quality targets, which have not
“E28/3048, E28/3053 and E28/3058 are strategically located along strike of Breaker Resources’ Lake Roe deposit and build on our footprint of highly prospective tenure which sits along some of the most prolific gold projects in Western Austr
“The success of the raising is an endorsement of both the prospectivity of Alchemy’s gold and base metal assets and the quality of our exploration team led by CEO James Wilson. We now have the balance sheet to accelerate our exploration pro
Surveys will provide up to five times better resolution than historic data and results will be able to better pinpoint the magnetic dolerite host rock and to refine drill targets more efficiently.
Tech and Health Care led the gains: Afterpay was up 2%, Appen was up 6.8%, CSL was up 1.3% and ResMed up 3.2%.
The precious and base metals explorer’s pioneer inferred resource forms the first part of Alchemy’s growth strategy at its wholly-owned WA gold play.
The gold and base metals explorer has pinpointed five new drill targets over Karonie’s southern tenements, with plans for drill testing to kick off during Alchemy’s phase two program.
A resampling program conducted over three prospects at Karonie turned up as much as 15.3 g/t gold, indicating there’s potential for shallow high-grade mineralisation at the project.
The ASX-listed gold explorer is preparing for two more drilling phases across its precious metals asset, with work underway to deepen understanding of the Karonie project’s southern tenements.
The aim of the program was to infill and extend mineralisation along strike from the Aldiss Mining Centre and testing of geophysical targets to the southeast.
The Karonie Project is directly along strike to Silver Lake Resources' Aldiss Project and along strike to the south of Breaker Resources' Lake Roe Gold Project.
The program consists of around 35 reverse circulation drill holes for a total of 3,000-5,000 metres at the Parmelia, KZ5, Taupo and Warrior targets.
The Karonie Project, in Western Australia’s famed Eastern Goldfields region, is within proximity to several established gold projects.
MD Lorry Hughes told this week’s Proactive CEO Sessions that the company is focused on gold in prolific WA Goldfields greenstone belts.
