Alchemy Resources (ASX:ALY) has started shallow aircore drilling to test for copper-gold targets at its Bryah Basin project in Western Australia.
Alchemy's landholding, covering about 45 kilometres of strike length in the highly prospective Bryah Basin, is located along strike and west of Sandfire Resources' (ASX:SFR) high grade DeGrussa volcanogenic massive sulphide (VMS) copper-gold deposit and southeast of Horseshoe Metals’ (ASX:HOR) Horseshoe Lights copper-gold project.
The drilling will be done directly along strike to the over 7 kilometres long multi-element anomaly recently reported by Sandfire at its North Robinson Range prospect.
The 10,000 metre program will test two strike-extensive targets in the eastern and central Magnus VMS target zone. The first target in the east Magnus area is over 4km in length and abuts the western side of the North Robinson Range anomaly, while the second target is in the CEntral Magnus area and over 8 kilometres in length.
The drilling aims to identify secondary/oxide copper-gold anomalism within the lower weathered profile that will allow better delineation of primary sulphide targets to be tested by deeper RC drilling.
Drilling of the Priority 1 holes is expected to take up to four weeks with assays expected a further six weeks after completion of the drilling and depending on the results of the initial campaign, further drilling of another 5,000 metres will be done.
The Bryah Basin Project includes the Hermes and Wilgeena gold deposits and the Central Bore gold prospect. Hermes has an Indicated Resource of 3.34 million tonnes at 1.98g/t gold, equivalent to 212,687 ounces of gold, and Wilgeena, hosts an Indicated Resource of 1.36 at 1.99g/t or equivalent to 87,373 ounces of gold.
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