Alchemy Resources Ltd (ASX:ALY) has intersected zones of pegmatites ranging from 1-metre to 27 metres in downhole thickness in first-pass reverse circulation (RC) drilling at the Karonie Lithium-Gold Project in Western Australia.
The company has now completed the RC program which tested multiple high-priority lithium targets at the project 110 kilometres east of Kalgoorlie.
Geological logging has defined multiple zones of pegmatites in drill holes with these zones up to 700-metre strike extent within the northern part of the Hickory prospect.
Interpretation confirmed
These pegmatites are interpreted to extend at least 150 metres from surface and remain open with varying widths up to 27 metres downhole. The zone remains open along strike and to the west.
This confirms the company’s interpretation of a substantial system developing at depth at Hickory and to the north under shallow alluvial cover.
Chief executive officer James Wilson said: “The discovery of extensive thick stacked pegmatites at Hickory is an outstanding result.
"This confirms our model that mapped pegmatites are continuous at depth, have a stacked geometry and continue to the north and west under the shallow alluvial cover which extends for roughly 3 kilometres to the north masking any surface geochemical expression."
RC program
The RC program consisted of 30 holes for 4,092 metres to test the outcropping pegmatites identified from recent mapping.
Completed RC drilling at Cherry and Hickory prospects.
Drilling targeted a significant zone of outcropping pegmatites that have been identified by field mapping. In addition, zones were targeted under thin alluvial cover to the north.
Results extend mapped pegmatites in drilling and outcrop at Hickory to around 2 kilometres outlining a significant zone of interest which remains open under cover to the north and west.
The company cautions that visual estimates should not be considered a proxy or substitute for laboratory analysis, which is required to determine the widths and grade of the mineralisation.
Results expected next month
All RC drill samples have been submitted to ALS Kalgoorlie with first results expected next month.
Further drilling will be required to explore for additional pegmatites under cover to the north of Hickory towards Pecan, due to the presence of a significant alluvial channel about 3 kilometres in strike which masks any geochemical signature.
The recent drilling at Hickory showed that the pegmatites continue under cover and Alchemy is investigating the use of geophysics including detailed deep ground penetrating radar, magnetics, ground radiometric and/or gravity surveys as a rapid way to detect prospective areas to drill test.
Follow-up programs
"We will now start planning follow-up programs so we can hit the ground running immediately once assays are received,” Wilson said.
"In addition, we will also look at other techniques such as gravity and ground penetrating radar to try and outline pegmatites under alluvial cover.”
What comes next?
- Continue detailed mapping in the areas north of Hickory to further enhance the geological model.
- Planning for follow-up programs once assay results have been received and interpreted.
- Assess the application of geophysics, including detailed radiometric or gravity surveys, to map out potential extensions of the pegmatites under cover to the north.
- Commence planning for heritage surveys prior to drill programs at Pecan Prospect.
- Planning underway for reconnaissance mapping and sampling of Lake Rebecca tenure pending heritage approvals.