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ALCHEMY RESOURCES LIMITED - ASX: ALY
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Alchemy is actively exploring three key areas; the Magnus Copper Project, the Gascoyne Gold Project, and the Murchison Projects (comprising six separate areas in the Murchison District).
The Magnus Copper Project comprises approximately 25 kilometres of prospective stratigraphy in the Bryah Basin region, host of Sandfire Resources’ DeGrussa copper-gold discovery. It is part way through evaluation and drill testing of conductors identified by an airborne VTEM survey and gold/copper-in-soil anomalies associated with prospective areas identified by geological field mapping. Alchemy continues to devote significant expenditure to exploration programs at Magnus and will continue its evaluation.
The Gascoyne Gold Project includes the Hermes and Wilgeena gold deposits and the Central Bore gold prospect. Hermes has an Indicated Resource of 1.7Mt @ 2.39g/t Au (equivalent to 131,000 ounces of gold) and was acquired from Troy Resources NL in June 2008. At Wilgeena, located 15 kilometres south of Hermes, RC and diamond drilling programs confirmed and extended existing zones of gold mineralisation, previously explored by Plutonic Operations Ltd in 1997. In July 2010, Alchemy estimated a maiden Indicated Resource of 659,480t @ 2.34g/t Au (equivalent to 49,536 ounces of gold) comprising three discrete mineralised zones. Alchemy is committed to identifying a commercialisation strategy for these gold resources.
The Murchison Project area currently consists of six separate, highly prospective areas in the Murchison district between Meekathara and Cue. Alchemy plans to progress its evaluation of these areas through follow-up RC and aircore drilling programs.
Mine For
gold, copper
Location of operation(s)
Western Australia
Address
Level 2, 72 Kings Park Road
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9481 4400
Website
http://www.alchemyresources.com.au
Last Updated
23/08/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
