Alchemy Resources (ASX:ALY) has landed approval to begin a lithium-focused reverse circulation (RC) drill program in June 2023 at its Karonie Project in Western Australia.
The drilling program consists of 42 holes for about 5,000m and is designed to test a series of ‘high-priority’ gravity and geochemical targets of about 5km strike extent along the corridor where the Cherry, Hickory, Mesquite, and Pecan prospects lie.
Additionally, the holes have been designed to test the Taupo North target, which sits 3km to the west of Hickory and has pegmatites logged in historic holes that have never been assayed for lithium.
Commenting on the program, Alchemy Resources Chief Executive Officer (CEO) James Wilson says: “We are really excited to get back on the ground to test these targets following the extensive geochemical and geophysical analysis.
“We now have 7 highly prospective targets, heritage clearance, a drilling contractor, and ideal weather conditions ready for the drill campaign at our wholly owned project”
We now have 7 highly prospective targets, heritage clearance, a drilling contractor, and ideal weather conditions ready for the drill campaign at our wholly owned project.”
At the Hickory, Mesquite, and Pecan prospects, the drilling program will comprise 39 holes with depths of up to 132m.
Meanwhile, at the Taupo North prospect, the program will consist of 3 holes with depths up to 132m, which will target the down-dip extent of pegmatites observed in the 2 historic drillholes.
The Karonie Project is prospective for lithium and gold and is located 110km east of Kalgoorlie. The drill targets are located about 8km to the south of Global Lithium Resources’ (ASX:GL1) Manna Project.
Alchemy Resources is an ASX-listed exploration company focused on growth through the discovery and development of gold, base metal, and battery metals within Australia. The company’s wholly owned projects include the Karonie and Lake Rebecca projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Alchemy Resources Limited
