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Alchemy Resources (ASX: ALY) unearths pegmatites from lithium drilling at Karonie

July 04, 2023 10:38 AM AEST | By Ankit Sethi
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Highlights

  • ASX-listed Alchemy Resources has finalised drill testing of lithium (Li) targets at the Karonie Project
  • The activity at the project, situated close to Kalgoorlie, comprised 28 RC drillholes for 3,732 metres of drilling
  • Numerous pegmatites at depth at the Pecan prospect have been intersected, close to lepidolite outcrop
  • The company has delineated multiple gently dipping zones of pegmatites at Taupo North

Publicly listed company Alchemy Resources Limited (ASX: ALY) -- having exploration assets in Western Australia (WA) and New South Wales -- has announced the completion of drilling program at its fully owned Karonie Lithium-Gold Project (WA). Reverse Circulation (RC) drilling at the Project, located near Kalgoorlie, has identified new zones of pegmatites, ALY informs. Samples have been sent to ALS Lab in Kalgoorlie for analysis and results are awaited.

It is informed that at the Pecan prospect, drilling intersected numerous pegmatites at depth. These are close to the previously identified lepidolite outcrop. Geological logging at Taupo North has defined new zones of pegmatites (pervasive at depth up to 186m downhole).

Image source: Company update

ALY shares were trading at AU$0.015 at the time of writing on 4 July 2023.


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