Alchemy Resources (ASX:ALY) will look to open higher today after intersecting broad, near surface, high grade gold at the Seaborg prospect within its Bryah Basin project in Western Australia.
Rotary air blast drilling made intercepts of 51 metres at 4.2 grams per tonne gold from surface and 29 metres at 4.33 grams per tonne gold from 16 metres, with drilling ending in mineralisation.
Two RAB drill holes were designed to confirm and extend a high-grade gold intersection of 27 metres at 5.43 grams per tonne gold from 15 metres in a historic hole drilled by Troy Resources (ASX:TRY) in 2000.
Both holes ended short of target depth and the results indicate that drilling stopped within the gold mineralised zone.
One metre fire assays and screen fire assays on selected high-grade samples are currently being undertaken
These are very significant assay results for Alchemy, which is capitalised under $7 million.
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