Pegasus Airborne Systems field crew on site. Source: Alchemy Resources
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  • Aircore drilling is underway at Alchemy Resources’ (ALY) Karonie gold project 110 kilometres east of Kalgoorlie, Western Australia
  • 110 holes are planned for 7000 metres of drilling which will test regional targets including the Karonie East corridor which extends roughly 10 kilometres
  • The company says the drilling program is expected to take two to three weeks to complete
  • The company also says that drilling programs in Karonie South are planned to commence in Q2 and Q3 of this year
  • Shares rounded off the day of trading flat at 1.3 cents

Aircore drilling is underway at Alchemy Resources’ (ALY) Karonie gold project 110 kilometres east of Kalgoorlie, Western Australia.

Under the program, 110 holes are planned for 7000 metres of drilling which will test regional targets including the Karonie East corridor which extends roughly 10 kilometres.

The company said the drilling program is expected to take two to three weeks to complete.

Target generation has been based on a combination of the high-resolution magnetics
flown in late 2021, which Alchemy said combined with the multi-element geochemistry of historic bottom of hole samples and structural mapping completed during 2021.

The company said re-assaying with multi-element geochemistry shows multiple gold anomalies coincident with pathfinder anomalism in proximity to key geological structures along the trend, which have not been adequately tested.

The company also said that drilling programs in Karonie South are planned to commence in Q2 and Q3 of this year.

These programs will take place at the Western Brown and Gilmore prospects.

Shares rounded off the day of trading flat at 1.3 cents.

ALY by the numbers
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