Alchemy Resources (ASX:ALY) has confirmed a pipeline of high-priority exploration targets at the Overflow and Yellow Mountain prospects in New South Wales after completing surface mapping and sampling within the Lachlan Project.
Rock chip samples were taken as part of a structural and geological mapping review in order to further enhance the company’s understanding of the complex structural deposits and refine targets for upcoming drilling programs.
The best results from the sampling program at the Overflow prospect includes 22.7 grams per tonne (g/t) gold, 0.12% copper; and 14.95g/t gold, 0.89% copper, and 26.2g/t silver.
Alchemy says these results highlight significant potential for mineralised structures to continue along strike up to 1,200m to the north and 300m to the south of the existing 342,000 ounce gold-equivalent resource at Overflow.
The Yellow Mountain prospect returned results including 18.2% lead, 20.4% zinc, 1.19g/t gold, and 0.14% copper; and 28.4% copper, 1.59g/t gold, 7.2% lead, and 0.65% zinc.
Mapping and sampling at Yellow Mountain returned ‘high-grade’ copper-gold-lead-zinc mineralisation traceable over two extensive mineralised zones which Alchemy says remain poorly tested by modern exploration methods.
Rock chips were last taken at Yellow Mountain in 2000, and no new drilling has taken place since 1986.
Alchemy has submitted heritage and regulatory approvals for priority targets for an upcoming drilling program at the Yellow Mountain prospect. Planning is also underway for drilling at Overflow.
A drone geophysics program is also being planned, alongside a reconnaissance soil program for the Yellow Mountain area.
The Overflow prospect is centred on the historic Overflow mining centre, which lies 150km southeast of Cobar, New South Wales. Meanwhile, Yellow Mountain lies 20km to the south of Overflow.
Alchemy Resources is an Australian explorer focused on growth through the discovery and development of gold, base metal, and battery metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Alchemy Resources
