Alchemy Resources (ASX:ALY) has identified three priority lithium target areas from its farm-in and joint venture Roe Hills tenements in Western Australia following a structural and lithological mapping campaign last month.
To guide future exploration programs and research the timing of pegmatite emplacement, Alchemy and its joint venture partner, the Japan Organization for Metals and Energy Security (JOGMEC) gathered 5,487 soil samples, as well as LiDAR and magnetics data across the tenements.
The first target maps pegmatite occurrences in a 6km by 2km corridor, along strike southwest of Global Lithium Resources’ (ASX:GL1) Manna Lithium deposit.
A northeast strike corridor extends roughly 5km by 1km under transported cover, exposing lepidolite bearing pegmatites, which was first interpreted from magnetics data.
Alchemy has also identified a 5km by 2.5km corridor target striking northeast that intersects coarse grained gabbro as well as pegmatites, parallel to the structure.
Geologists are currently following up with field validation work to conduct further mapping, while LiDAR data is being analysed to further enhance the target areas.
CEO James Wilson says the work conducted at these prospects has generated a “significant” number of priority areas.
“The recent field mapping aided in developing strategies to identify and test priority target areas in both the residual and transported cover areas,” Wilson says.
“A significant number of pegmatite areas have been identified in all three target areas, and with geologists in the field this week, we hope to further refine these areas to enable drill planning to commence as soon as possible.”
As reported by Mining.com.au, Alchemy entered a farm-in and joint venture deal with JOGMEC for the Roe Hills Project in September last year.
The Australian Government Foreign Investment Review Board (FIRB) approved the venture in December, which will allow JOGMEC to earn 51% interest in the project by expending $6 million by 31 March 2029.
Located within the Karonie Project, the Roe Hills prospects lie along the same pegmatite field that hosts the Manna Lithium deposit, which has a resource of 51.6 million tonnes @ 1% lithium oxide.
Alchemy Resources is a gold, base metal, and nickel-cobalt explorer, focused on the development of its projects in Western Australia and New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Alchemy Resources
