Alloy Resources announced that its joint venture partner Doray Minerals Limited has commenced the drilling campaign at the Horse Well Project.
The 1,000km2 Horse Well Gold project is located in the North East Yilgam of Western Australia, approximately 50 km north of Northern Star’s flagship Jundee Gold Mine.
Alloy said that the aggressive exploration programme includes infill air-core drilling of the Django anomalies, air-core drilling of prospective areas of the Celia Shear zone south of the Warmblood prospect, as well as RC drill testing of identified priority air-core anomalies in the June Quarter.
“The Horse Well project is one of the few well-funded emerging gold exploration projects in Australia. New discoveries have been made with each drill program completed so far and we are confident that this will continue with the planned programs,” said Alloy Resources Executive Chairman Andy Viner.
“This current program has started with 200 metre by 50 metre infill air-core drilling at the existing Django discovery, with the aim to define the best RC targets here for further testing on the early parts of the June quarter. We are very pleased that these strong geochemical anomalies at Django will be tested in this phase of drilling. ”
Doray recently earned a 60% interest in the project and Alloy is funding its 40% interest. Under the JV agreement between the two companies, Doray can earn up to 80% through expenditure of $4 million within the next four years.