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ALCHEMY RESOURCES LIMITEDALCHEMY RESOURCES LIMITEDALCHEMY RESOURCES LIMITED

ALCHEMY RESOURCES LIMITED

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ALY trade ideas

ALY 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 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
ASX:ALY
by heywood29
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