- Alliance Resources has shared results from drilling at a South Australian gold project today
- During July and August, 33 holes were drilled
- The company says the drilling has once again grown the size of the gold deposit
- Alliance shares are steady, trading for 14 cents per share
Alliance Resources has received results from the latest phase of reverse circulation drilling completed at the Weednanna Gold Deposit.
The Weednanna deposit is located 40 kilometres north of Kimba on the Eyre Peninsula in South Australia and is the most advanced gold deposit within the Wilcherry Project.
It is a high-grade shallow gold system with a mineral resource estimate of 1.097 million tonnes at 5.1 grams per tonne gold for 181,000 ounces of gold.
A scoping study has been positive and supports a new 250,000 tonne per annum gold plant on site.
During July and August, 33 reverse circulation holes, for 5211 metres, were drilled at Weednanna to continue to define the extensions of gold mineralisation at Shoots 5E, 7, and 8, infill gold mineralisation at Shoot 9/11, and test for Shoot 1 style gold mineralisation at the 3DIP target.
The results from this program have continued to grow the size of the Weednanna Deposit outside of the maiden mineral resource area.
Highlights include six metres at 16.6 grams per tonne gold from 107 metres, and four metres at 24.1 grams per tonne gold from 108 metres.
Since its 2018 mineral resource estimate, Alliance has drilled a further 139 reverse circulation holes for 21,542 metres with the objective of growing and increasing geological confidence in the Weednanna mineral resource.
Alliance has now continuing metallurgical test work on diamond drill cores to optimise the processing flowsheet and design of a gold processing facility for Weednanna.
Shares in Alliance are steady, priced at 14 cents apiece in a $21.56 million market cap.