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Alloy Resources completes 28,000 metre drilling program

Alloy Resources Ltd (ASX:AYR) has completed a 28,000 metre air-core drilling program at the Horse Well Gold Project in the North Eastern Goldfields of Western Australia.
Alloy Resources completes 28,000 metre drilling program
Alloy Resources Ltd completes 28,000 metre drilling program

The 1,000 square kilometre Horse Well Joint Venture comprises Doray Minerals Ltd (ASX:DRM) (60%) and Alloy (40%) who are completing a $2 million exploration program during 2016.

The project is located 50 kilometres north of the large 240,000 ounces gold per annum Jundee Mine operated by Northern Star Resources Ltd (ASX:NST).

Alloy has received assays for the first phase of this program which saw 72 holes drilled around existing +100 ppb gold anomalies at the Crack of Dawn South and Big Kahuna areas.

The Big Kahuna drilling has confirmed a broad 1.5 kilometres x 500 metres northeast trending area of strong supergene mineralisation through the Crack of Dawn granite.

The results include:
- 4 metres at 1.34 g/t gold from 16 metres; and
- 8 metres at 0.60 g/t gold from 48 metres.

The second phase of the drilling saw a large number of holes allocated to an untested 7.5 kilometre section of the greenstone belt south of the Django prospect.

The results from the second phase will be reported once all assays are received.

The joint venture partners are targeting to delineate a 1 million ounce gold reserve to support a 100,000 ounces per annum stand-alone operation.

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Alloy Resources Ltd Timeline

November 04 2016
October 26 2015

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