i am bullish on ALY
-With 3 drilling programs that are commencing within the next 3 months.
-Being a company with such a small market cap gives it potential to move.
-Gold price is very good at the moment.
DECEMBER 2017 QUARTERLY REPORT
-With 3 drilling programs that are commencing within the next 3 months.
-Being a company with such a small market cap gives it potential to move.
-Gold price is very good at the moment.
DECEMBER 2017 QUARTERLY REPORT
Highlights
KARONIE PROJECT (WA) – GOLD
- First-pass RAB drilling of the gold prospective Claypan Shear Zone to commence
early in February 2018.
- First-pass RAB drilling of interpreted dolerite coincident with magnetic and
gravity highs at the Warrior Prospect also planned to commence in February.
- Significant untested gold-in-soil anomaly identified at KZ5.
LACHLAN / COBAR BASIN PROJECTS (NSW) – GOLD / BASE METALS
- Reverse Circulation drilling at the Black Range Tank Gossan VTEM / surface EM
anomaly and coincident Au-Cu-Pb-Zn-Ag-in-soil anomaly to commence during
the March 2018 quarter.
- First pass wide spaced soil sampling at Eurow identifies significant gold and
copper anomalism.
- Historic soil sampling collation identifies strong gold and copper soil
anomalism at Quarry Hill and Rosedale prospects.
- Auger drilling at Girilambone identifies low tenor copper anomalism.
BRYAH BASIN PROJECT (WA) – GOLD / BASE METALS
- Independence Group NL moving loop EM (MLEM) survey identifies strike
extensive EM conductors.
- Billabong Gold Pty Ltd JORC 2012 update for the Wilgeena resource has
commenced but is yet to be finalised.
CORPORATE
- Cash at 31 December 2017 - 1.41M.
Western Australia: Karonie Project
• 782km2 of highly prospective, recently granted
exploration licences (only one application)
• Quality geological setting – greenstones
containing large scale structures (Keith Kilkenny
and Claypan Faults) and mineralised secondary
structures, proximal to “internal” granites
• Along strike to the south of Breaker Resources
(ASX:BRB MCap.
80M) Lake Roe Project (Bombora
gold deposit on Claypan Fault)
• 35km of the Claypan Fault - limited soil sampling
over transported soils and no previous drilling
• Northern and southern strike extensions of
560,000oz @ 2.2g/t Au* (Karonie Main, Harry’s
Hill, Spice, Tank, French Kiss & Argonaut reserves
and resources - Silver Lake Resources (ASX:SLR))
• Adjacent to Kairos Minerals (ASX:KAI MCap.
54M)
Roe Hills Project
• 50km from Silver Lake’s Mt Monger / Randalls
processing plant
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