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Alloy Resources on a gold streak in Western Australia

Published: 11:00 13 Aug 2013 AEST

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Alloy Resources (ASX: AYR) will trade significantly higher at the open following high grade gold reverse circulation drilling results from the company’s Horse Well Gold Project in Western Australia.

At Warmblood a 750 metre strike length has now been defined, with a resource estimation to now commence.

Recent broad near-surface results include: 22 metres at 3.72g/t gold from 10 metres.

At the Dawn and Dusk til Dawn prospect a large gold mineralised system has been confirmed, with an estimated 100 metre thick shallow dipping altered and variably mineralised zone defined by the first ever reverse circulation hole.

Gold mineralisation was intersected in a 45 metre section below weathered and leached zone, including: 4 metres at 4.96g/t gold from 124 metres, and the broader hit of 24 metres at 1.04g/t gold from 92 metres.

The Horse Well Gold Project is located about 40 kilometres north of the Jundee +2 million ounce gold deposit.

 

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