Sign up Australia
Proactive Investors - Run By Investors For Investors

Alloy Resources Ltd finishes drilling with farm-in partner Doray Minerals

Alloy Resources Ltd finishes drilling with farm-in partner Doray Minerals

Alloy Resources Ltd (ASX:AYR) has completed a drilling program at the Horse Well Gold Project in the North Eastern Goldfields of Western Australia, along with JV partner Doray Minerals Ltd (ASX:DRM).

The project is located on the northern limb of the Yandal Greenstone Belt about 50 kilometres from Northern Star Resources Ltd’s (ASX:NST) 220,000 ounces per annum Jundee Gold Mine.

A total of 25 holes for 4,738 metres drilled at the Django prospect within the Horse Well Project.

Alloy Resources’ 60:40 JV partner Doray Minerals has earned 60% in the project by spending $2 million over the last 2 years.

The partners had some encouraging gold hits in 2015 including 65 metres at 2.6 g/t gold and 16 metres at 7.2g/t gold.

The JV will now see over $2 million exploration expenditure in the 2016 calendar year, with Alloy Resources contributing its 40% share.

The JV is targeting to delineate a 1 million ounce gold reserve to support a 100,000 ounces per annum stand-alone operation.

Results will be released from the drill hole sample analysis once received and interpreted.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.





Register here to be notified of future AYR Company articles
View full AYR profile View Profile

Alloy Resources Ltd Timeline

Newswire
November 04 2016
Newswire
October 26 2015

Related Articles

picture of gold pour
September 06 2017
Sener wants to do more work itself at Salinbas to see what’s there
Balmoral Resources opening up new gold zones in the Abitibi
May 03 2017
Balmoral has delivered a string of attractive exploration results from its Martiniere gold project on the prolific Abitibi gold belt
1511347932_gold_bars,_sized.png
November 22 2017
Scotgold's rights issue will go a long way towards bringing in the funds to get Cononish into production

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use