Alchemy Resources (ASX:ALY) has begun follow-up work on the Parmelia, K4, and Challenger targets at its Karonie Project in Western Australia, after receiving results from an infill soil sampling program.
A total of 900 soil samples were taken over three target areas on a 400m offset grid pattern along the Goldilocks Trend, including the Roe Hills and Manhattan prospects.
CEO James Wilson says the results confirm the company’s exploration strategy at Karonie.
“The results demonstrate the excellent potential for further success in lithium-focused exploration,” he says.
“Previously, we’ve intercepted outcropping lithium minerals adjacent to single point soil anomalies, so it’s critical that we ground truth all of these areas.”
Results show broad, low-level lithium anomalism across the Roe Hills prospect extending to the southern boundary over a 15km-long trend of the tenement. Alchemy, which has a market capitalisation of $9.42 million, is now planning for a detailed mapping and sampling program.
Meanwhile, at the Manhattan prospect to the east, broad lithium anomalism has been recorded in wide-spaced soils over a 5km-by-5km zone. The company says this area has never been systematically explored for lithium prior to now.
Alchemy is conducting a multi-element soil sampling program to test lithium pathfinder anomalies adjacent to the buried granite that lies underneath Lake Roe.
Sampling is being carried out on a 400m-by-400m offset grid, with results recording lithium anomalism over a 10km-by-6km zone.
Alchemy Resources is an Australian explorer focused on discovering and developing gold, base metal, and battery metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Alchemy Resources
