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Alchemy Resources sets RC drill spinning in maiden lithium focused campaign at Karonie

Published 24/10/2022, 08:31 am
© Reuters.  Alchemy Resources sets RC drill spinning in maiden lithium focused campaign at Karonie
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Alchemy Resources Ltd (ASX:ALY) has kicked off a lithium-focused reverse circulation (RC) drill program to test multiple high-priority targets at the 100%-owned Karonie Lithium-Gold Project, 110 kilometres east of Kalgoorlie in WA.

Drilling will consist of 33 holes for 3,000-5,000 metres and will target 1,200 metres of strike length of the extensive system of pegmatites identified by field mapping and from detailed soil sampling completed recently.

The program is expected to take about three weeks to complete with first assays expected by December 2022.

“A major milestone”

Chief executive officer James Wilson said: “Today’s announcement that drilling has commenced at the Karonie Project is an exciting development for the company and the geology team.

"The initial program is planned to test the high-priority lithium targets at the Cherry and Hickory prospects with planning for follow-up programs already underway.

"This initial phase of lithium-focused drilling is a major milestone as we move toward testing these high-priority targets for the first time.”

Targeting UST pegmatites

The program will target the Uniaxial Solidification Textured (UST) pegmatites at the northern end of the Hickory Prospect where both higher tenor lithium and pathfinder element anomalism occurs.

Drilling will also test the pegmatites under the transported cover to the north along strike.

The depth of holes will be up to 150 metres downhole with spacings of 80 metres to provide adequate crossover to establish dyke orientation.

In addition, a stratigraphic line will be drilled across Hickory to Cherry to establish if there are additional pegmatites under the thin cover which was outlined by recent infill soil sampling.

About Alchemy

Alchemy has built a significant land package in the Carosue Dam-Karonie greenstone belt in the Eastern Goldfields region in Western Australia and has an 80% interest in the Lachlan/Cobar Basin Projects in New South Wales.

The company also maintains its interest in the Bryah Basin Project in the gold and base metal-rich Gascoyne region of Western Australia, where Superior Gold Inc and Sandfire Resources Limited continue to advance gold and base metal exploration, respectively.

Read more on Proactive Investors AU

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