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Highlights:
- Alchemy Resources Ltd has commenced the first-pass regional exploration within the lithium-prospective ‘Goldilocks Zone’ at its wholly owned Lake Rebecca Project, Western Australia.
- Pegmatites and granite intrusives mapped across the Lake Rebecca tenure in addition to historically mapped occurrences.
- Many lithium and gold targets have been generated upon litho-structural review on the company’s tenements.
Alchemy Resources Limited (ASX:ALY) has concluded its first-pass, project-wide regional reconnaissance at the wholly owned Lake Rebecca Project, Western Australia.
The company has also received the results from a targeting review conducted by Lithify Pty Ltd on the tenement package. Following which, Lake Rebecca has been shown to have high prospects with regional scale flexures on both the Keith Kilkenny and Claypan shear zones with proximity to large-scale >1Moz deposits of gold.
The focus of the review was to generate ‘camp scale’ prospective areas for follow-up taking into consideration structural and lithological criteria. Through the study, seven target areas were outlined for lithium exploration and five for gold exploration.
A recent reconnaissance visit helped in discovery of pegmatites and granite dykes in the region, requiring further mapping and follow-up. Historically, no lithium exploration has been conducted on Lake Rebecca tenements.
Together, Lake Rebecca and Karonie lithium targets signify an upwards of 160km of semi-contiguous strike, which covers more than 1,700sqkm of highly strategic tenure, says the company.
This is what Executive Director Mr James Wilson has to say:
© 2022 Kalkine Media®, Source: Company update dated 6 Dec 2022, image: Company website
ALY shares were trading AU$0.027 as on 6 Dec 2022 (10:43am, AEDT).
More to come…