New Tenements Cover 50.3 Sq. Km Highly Prospective Greenstone
Alchemy Resources Limited’s (ASX: ALY) wholly-owned subsidiary Goldtribe Corporation Pty Ltd has won three ballots for three key exploration licence applications (E28/3048, E28/3053 and E28/3058).
These tenements form part of Alchemy’s Lake Rebecca Project in Western Australia which sits strategically between three major gold deposits and spans 50 strike kilometres covering 562 sq. km.
The new licences are located 140km to the east of Kalgoorlie and are contiguous with both Breaker Resources (ASX: BRB) to the south and St Barbara (ASX: SBM) to the north in a highly strategic geological position along the Claypan shear. Most of these applications are located only 30km south-east of Northern Star Resources Carosue Dam operations (4.3Moz), and 20km north of Breaker Resources’ Lake Roe project (1.4Moz).
The area is highly prospective and Goldtribe’s applications were competing with multiple applications. As a result, priority to the ground was determined by ballots conducted by the Mining Warden in Kalgoorlie, with Goldtribe drawn first in all three ballots. The applications will now progress through statutory process with title expected to be granted in early 2022.
“E28/3048, E28/3053 and E28/3058 are strategically located along strike of Breaker Resources’ Lake Roe deposit and build on our footprint of highly prospective tenure which sits along some of the most prolific gold projects in Western Australia. The new leases cover 50.3km2 of greenstone and intrusive units and have seen limited testing with modern exploration methods. We are delighted to have secured this ground and look forward to starting work as soon as the tenements are granted,” Chief Executive Officer, James Wilson, said,
ABOUT THE LAKE REBECCA GOLD PROJECT
Alchemy’s 100% owned Lake Rebecca Gold Project is a new project covering approximately 560km2 of prospective greenstones, granitic intrusives, and known gold bearing structures within the Bombora-Carosue Dam region (refer ASX Announcement 20 July 2020). The successful exploration licence applications are located to the south-east of Northern Star Resources’ (ASX: NST) 4.3Moz Carosue Dam gold deposit and along strike to the north of Breaker Resources’ (ASX: BRB) 1.4Moz Bombora gold deposit in the Eastern Goldfields, WA
For further information please visit: https://alchemyresources.com.au/