Alchemy Resources uncovers pegmatite extensions through gravity survey at Hickory prospect in WA

ASX-listed exploration company Alchemy Resources (ASX:ALY) has uncovered pegmatite extensions under alluvial cover through a gravity survey conducted over the Hickory prospect, located within the Karonie Project in Western Australia.

This ground gravity survey was completed in December 2022 with custom data processing by Perth-based consultancy NewGen Geo, which specialises in the application of geophysics to pegmatite exploration.

The high-resolution gravity survey measured variations in the Earth’s gravity field caused by differences in rock density. Lower density pegmatites intruded into higher density metamorphosed mafics at Hickory are expected to be expressed as a gravity low response.

The gravity data, together with known pegmatite locations from drilling and mapping, were used to interpret the northern extensions and outline new targets for follow-up work.

Commenting on the gravity survey, Alchemy Resources Chief Executive Officer (CEO) James Wilson says: “We are extremely pleased with how well the gravity survey has managed to map out the extension of pegmatites at Hickory. The learnings and knowledge gained from this survey will be used to help map out pegmatites at our other high-priority lithium targets at Karonie.

“The learnings and knowledge gained from this survey will be used to help map out pegmatites at our other high-priority lithium targets at Karonie”

With approximately 4km of alluvial cover northwards to Pecan, we are excited to begin using gravity and high-resolution drone magnetics technology to aid in mapping out the pegmatite system to the north.”

Alchemy reports pegmatites are interpreted as the gravity lows that trend towards the north from the existing pegmatite drill intercepts. Known pegmatite locations from drilling and mapping were used to interpret these extensions and as a result, multiple previously unknown pegmatite targets have been generated.

The company says it has commenced planning for an expanded gravity survey to map the prospective structures under cover over a 5.4km by 1.6km area towards the Pecan prospect. The expanded survey will also extend to the west and east of the existing mapped pegmatites as it is believed the system remains open in all directions.

The processed gravity data suggests that the pegmatites that were intercepted in the 2022 Hickory drilling continue striking north towards the favourable structures, and the survey will assess the potential for pegmatites within the favourable northeast trending structures. Alchemy also notes structural weaknesses are an important factor for the formation of lithium-caesium-tantalum (LCT) pegmatite systems.

Alchemy will also continue detailed mapping in the areas north of Hickory to further enhance the geological model, and begin a mapping and sampling program on E28/2681 and E28/2667.

Concurrently, the company is completing an XRD analysis of drill samples to further enhance the understanding of the pegmatite mineralogy of recent drilling, and is planning a follow-up reconnaissance mapping and sampling program at the Lake Rebecca Project.

Alchemy Resources is an 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. 

It also holds an 80% interest in the Lachlan Fold Belt, and an 80% interest in the West Lynn Project in New South Wales with Heron Resources (ASX:HRR), as well as a 20% interest in the Bryah Basin Project with Sandfire Resources (ASX:SFR) in Western Australia.

Images: Alchemy Resources Limited
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.