Alchemy Resources Limited’s (ASX: ALY) now completed detailed gravity and magnetics surveys at its wholly-owned Karonie Project in Western Australia has identified a number of follow up targets.
Data acquisition and interpretation was completed under the supervision of Atlas Geophysics, Pegasus Airborne Systems and NewGen Geo which specializes in the application of geophysics to pegmatite exploration.
The survey covered areas of known pegmatites logged in recent drill programs and extended to Alchemy’s northern tenement boundary. The outcome of the survey suggests that the known pegmatites could extend well beyond those structures seen in the recent drill program which intersected visual spodumene.
Furthermore, the gravity geophysics has proven to be an effective tool in delineating these structures which remain open along strike to the south and to the west of the existing survey. Planning is underway to potentially extend these survey areas to the west. Heritage surveys are due to commence in late April 2023 and drill planning is underway to test the first of these targets in the June 2023 quarter.
“We’ve been really impressed with how well the pegmatites can be mapped under cover using gravity,” CEO, James Wilson, commented.
“We are excited to have identified such a large primary target to test over 5.4km x 1.6km along this trend and look forward to planning drilling to test these targets. At the same time, our soils crews have completed their work to the east and west of Manna with results pending.”
Next Steps
• Commence heritage survey on Karonie Gravity targets.
• Ground truth new target areas and continue detailed mapping of Karonie Gravity target areas.
• Commence drill planning.
• Assess the potential for gravity surveys to the west of the existing survey area to map out prospective structures.
For further information please visit: https://alchemyresources.com.au/
