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Highlights
- Over 4,000 soil samples collected at Karonie Project in Q1 2025
- Alchemy Resources advances exploration with JV partner JOGMEC
- Drilling targeted at historic high-grade copper site in NSW
Alchemy Resources (ASX:ALY) has completed a significant multi-element soil sampling program in Western Australia in collaboration with its joint venture partner, the Japanese Organization for Metals and Energy Security (JOGMEC). This initiative, undertaken at the Roe Hills area within the Karonie Project, marks a key milestone in the company’s exploration journey as it strengthens its footprint in the critical minerals sector.
During the first quarter of 2025, Alchemy collected a total of 4,038 soil samples, aiming to identify promising zones of mineralisation. Early interpretation of these samples suggests the presence of coincident multi-element pathfinder anomalism, indicating zones that may warrant follow-up work. Interpretation is ongoing, but it has already laid a promising foundation for future exploration activities.
To support drilling operations, Alchemy also completed heritage surveys, magnetic mapping, and Light Detection and Ranging (LiDAR) surveys in the same quarter. These steps are essential for enhancing drill access and maintaining compliance with regulatory frameworks and cultural sensitivities.
The partnership with JOGMEC has proven instrumental in accelerating the project. As part of their farm-in agreement, JOGMEC fulfilled its minimum expenditure requirement of $600,000 ahead of the 31 March 2025 deadline. The joint venture now covers 248km² of the 694km² total landholding, enhancing the exploration scope.
This progress reflects broader investor interest in companies involved in future-facing commodities—particularly those contributing to the energy transition. Such companies often sit in the spotlight alongside notable ASX dividend stocks, given their potential for long-term growth and cash flow generation.
In New South Wales, Alchemy has also been actively advancing its copper-gold-lead-zinc project at Yellow Mountain. A heritage survey was finalised in Q1 2025, paving the way for imminent drilling. This site is notable for historical assays, including a standout 28.4% copper result from mullock samples. Importantly, it has remained largely unexplored since the 1970s, offering high prospectivity.
With $1.89 million in cash reserves, Alchemy is fully funded for its near-term plans. The company’s strategic progress, both in critical minerals and base metals, continues to align it with broader themes across the Australian market. Investors keeping an eye on the S&P/ASX 200 may find such developments worth noting as small-cap explorers strive for greater visibility.
Alchemy Resources is positioning itself as a key player in the exploration landscape, with eyes firmly on growth opportunities across lithium and copper-rich terrains.
