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Alchemy Resources (ASX: ALY) advancing exploration on lithium targets at Western Australian projects - Kalkine Media

October 27, 2023 12:34 PM AEDT | By Sonal Goyal
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Alchemy Resources (ASX: ALY) advancing exploration on lithium targets at Western Australian projects
Image source: Company update

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Highlights

  • Mapping at Karonie has discovered additional lithium mineralisation at the Mesquite prospect, containing coarse lepidolite crystals.
  • A geochemical review by an external lithium consultant defined several targets for follow up at Karonie, Lake Rebecca and Roe Hills.
  • Field work focusing on lithium targets at Lake Rebecca has started.
  • ALY plans to undertake follow-up lithium focused drilling at Karonie.

Alchemy Resources Limited (ASX: ALY) has shared an exploration update for its Western Australia based projects - Karonie and Lake Rebecca.

The recently conducted detailed mapping program at Karonie has discovered further multiple lithium caesium tantalum (LCT) pegmatite outcrops at Mesquite prospect. The outcrops contain coarse lithium minerals and trend to the north-east, compared to the north-south orientation at Hickory.

Also, a project-wide geochemical review has been concluded by an external lithium consultant. The review has identified several follow up targets at Karonie, Lake Rebecca and Roe Hills.

Field work focusing on the lithium targets at Lake Rebecca has commenced, and soil sampling is planned to begin at the beginning of next month.

At the Taupo North prospect within Karonie, heritage surveys are due in November 2023. Once completed, follow up lithium focused drill campaign is planned.

ALY shares traded at AU$0.010 apiece at the time of writing on 27 October 2023.

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