Alchemy commences drilling within Karonie Gold Project in WA Eastern Goldfields

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Alchemy Resources Limited announced that it has commenced the 7,000m aircore firs-pass drilling underway at Karonie Gold Project in the Eastern Goldfields, to test two Karonie Main / Bombora style targets within recently granted Alchemy tenure.

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“We have identified some excellent targets for gold mineralisation within the Karonie Project that have not been drill tested to date, and we’re very pleased that this drilling has commenced so early in the life of our tenements,” said Alchemy’s Managing Director Leigh Ryan.

“We also expect to commence first pass drilling across the highly prospective Claypan fault zone as soon as the second licence over that structure has been granted, hopefully later this year.”

According to the release, numerous targets for gold mineralisation were identified within the Karonie Project after a detailed review of all available its geological, geochemical, drilling and geophysical data; and SRK Consulting Aldiss / Karonie prospectivity study. Field reconnaissance work and prioritisation of these targets was then completed with the help of consultants Model Earth Global Geological Services, with the Gilmore and Aldiss prospects being identified as high priority targets.

Further, the drilling is designed to target NS oriented D2 shears and interpreted folded dolerite stratigraphy where a significant change in orientation of the regional stratigraphic trend from NS to NNW is observed. Assay results are expected by mid to late October.