Join our daily newsletter At The Bell to receive exclusive market insights
- Alliance Resources (AGS) has announced results from its latest reverse circulation (RC) drilling at the Weednanna Gold Deposit in South Australia
- Results from this testing indicates gold recovery from Shoot One ore will be lower than what was expected from the 2018 Mineral Resource Estimate
- During November 2019, 58 vertical RC holes were drilled in Shoot One at Weednanna
- Despite this, future RC drilling programs are planned to upgrade geological confidence in the deposit
- On the market today, Alliance is down 14.3 per cent and is selling shares for 9 cents per share
Alliance Resources (AGS) has announced results from its latest reverse circulation (RC) drilling at the Weednanna Gold Deposit in South Australia.
During November 2019, 58 vertical RC holes were drilled in Shoot One at Weednanna. Samples were taken during the drilling program to determine the expected gold recovery.
Results from this testing indicates gold recovery from Shoot One ore will be lower than what was expected from the 2018 Mineral Resource Estimate.
Results include 35 metres at 6.8 g/t of gold from 46 metres including 5 metres at 30.2 g/t of gold from 74 metres.
Alliance is an Australian gold and base metals explorer with projects in South Australia and Western Australia.
The Weednanna project is part of the Wilcherry Project, located within the southern part of the Gawler Craton, approximately 45 kilometres north of the township of Kimba, Western Australia.
Alliance is currently completing studies on RC drill samples from other gold shoots at the Weednanna Deposit.
Future RC drilling programs are planned in the future to upgrade geological confidence at the deposit.
On the market today, Alliance is down 14.3 per cent and is selling shares for 9¢ per share at 5:54 pm AEST.
