Alchemy Resources Limited (ASX: ALY) announced the commencement of a diamond core drilling program at its 100% owned Karonie Gold and Lithium project, situated 100km east of Kalgoorlie. This program will encompass two diamond core holes at the Challenger Prospect, strategically chosen based on a comprehensive review of historical drilling data and mapping conducted in 2021. Previous drilling activities at this site yielded encouraging results, including anomalous intercepts of up to 16 meters at 1.00 grams per tonne of gold (from 112 meters).
Notably, the Challenger Prospect is situated along the same geological strike as the French Kiss open pit to the northwest, operated by Silver Lake Resources. It represents an advanced gold target with similar host rock characteristics to Ramelius Resources Bombora deposit. Additionally, the presence of a significant Au-Bi-Mo-Te-W-Sb anomaly, detected through air core drilling, further enhances the project's prospects. The ongoing diamond drilling program, with holes oriented to the northeast, is now in progress to provide valuable insights into the potential of this promising site.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
