Alchemy Resources (ASX: ALY) has commenced gold drilling at the Seaborg gold prospect at Bryah Basin, Western Australia.
Drilling aims to determine orientation and plunge of an interpreted high-grade gold shoot, as well as the potential strike and depth extent at Seaborg.
This drilling will incrementally step-out both along-strike and down-plunge from existing defined high-grade gold mineralisation.
Previous gold assay results from the project included 51 metres at 3.71 g/t gold from surface, 23 metres at 3.16 g/t from 16 metres, and 27 metres at 5.43 g/t from 15 metres.
Notably, results to date indicate a significant level of continuity in gold grade down-hole, and that drilling stopped within the gold mineralised zone.
In addition, shallow geochemical drilling designed to track the north-east extensions of a 4 kilometres mineralised corridor at the Winchester prospect will commence shortly.
Alchemy has also established a pipeline of advanced to grass roots gold targets in the Bryah Basin for systematic exploration.
Capitalised at around $4 million, results similar to previous drilling should move the share price.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.