Alchemy Resources (ASX:ALY) has identified 10 “camp-scale” gold targets for priority follow-up work at the Lake Rebecca Project in Western Australia.
The company intends to conduct a field trip shortly, to further assess its tenements in proximity to the Lighthorse discovery, as well as other regional targets.
A detailed mapping and sampling program will also be carried out, with the intention of drilling being undertaken, once results from this work have been compiled.
This news comes after Alchemy, which has a market capitalisation of $9.42 million, completed a mapping, sampling, and targeting review on Lake Rebecca, focusing on generating camp-scale prospective areas.
Alchemy says the review confirmed the project’s prospectivity with regional scale flexures present on the Keith Kilkenny and Claypan shear zones.
CEO James Wilson says the project is located between numerous gold discoveries, including OzAurum’s (ASX:OZM) Mulgabbie North Project and Kalgoorlie Gold Mining’s (ASX:KAL) Pinjin Project.
“Alchemy’s project areas cover sections of the Laverton Tectonic Zone, immediately south of these discoveries,” Wilson says.
“We recognise the strong potential of our tenements and are advancing targeted exploration programs to unlock their value. Crews will be deployed in March 2025 to conduct further mapping and sampling on key target areas.”
The Lake Rebecca Project, covering 523km2, sits in the Eastern Goldfields region of Western Australia.
Previous explorers around the project area include BHP (ASX:BHP), Newmont (ASX:NEM), and Renaissance Minerals from 1960-1990. More recently, St Barbara (ASX:SBM) has explored the area targeting gold and base metals.
Alchemy Resources is a junior gold and base metals explorer with assets located across Australia. The company’s projects lie in New South Wales and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Alchemy Resources
