Alchemy Resources (ASX:ALY) report its wholly owned subsidiary Goldtribe Corporation has won a ballot for a key exploration licence application (E28/3207) on a tenement that forms part of Alchemy’s 100% owned Karonie Lithium and Gold Project.
The new licence is located 120km to the east of Kalgoorlie and is contiguous with both GL1 to the east and BRB to the north.
The area is highly prospective and Goldtribe’s application was competing with multiple parties. As a result, priority to the ground was determined by a ballot conducted by the Mining Warden in Kalgoorlie, with Goldtribe drawn first in the ballot.
The application will now progress through statutory process with title expected to be granted later this year.
“E28/3207 is strategically located on the doorstep of Global Lithium Resources’ Manna Deposit, and along strike of Breaker Resources’ Lake Roe deposit”
Addressing the result, Alchemy Chief Executive Officer James Wilson commented: “E28/3207 is strategically located on the doorstep of Global Lithium Resources’ Manna Deposit, and along strike of Breaker Resources’ Lake Roe deposit.
The acquisition of this tenement builds on our footprint of highly prospective and strategic tenure which sits in proximity to some of the most prolific lithium and gold projects in Western Australia.
The new lease covers 24.8km-square of greenstone and intrusive units and has seen limited drill testing with modern exploration methods. We are delighted to have secured this ground and look forward to starting work as soon as the tenement is granted.”
The Karonie Project now includes 12 exploration licences and two exploration licence applications covering 1,220km-square of highly prospective mineralised structures within Kurnalpi Terrain greenstones 100km east of Kalgoorlie (Figure 1).
The tenements are located along strike of Silver Lake Resources (ASX:SLR) Aldiss Mining Centre, are within 50km of Silver Lake’s Randalls processing plant and cover 38km of the under-explored, gold endowed Claypan Shear Zone commencing just 12km along strike to the south of BRB’s Lake Roe deposit.
Lithium pathfinder anomalism has recently been outlined within 8km of GL1’s Manna Lithium deposit.
Alchemy Resources is an Australian exploration company focused on growth through the discovery and development of gold, base metal, and battery metals within Australia.
Alchemy has built a significant land package in the Carosue Dam – Karonie greenstone belt in the Eastern Goldfields region in Western Australia and has an 80% interest in the Lachlan/Cobar Basin Projects in New South Wales.
Alchemy also maintains its interest in the Bryah Basin Project in the gold and base metal-rich Gascoyne region of Western Australia, where Superior Gold (TSX-V:SGI), and Sandfire Resources (ASX:SFR) are continuing to advance gold and base metal exploration, respectively.
Write to Adam Orlando at Mining.com.au
