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Alloy Resources Ltd www.alloyres.com/

Alloy Resources Ltd (ASX:AYR) is a mining and exploration company with projects in Western Australia, New South Wales and New Zealand.

 

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Alloy Resources readies for Doray exploration to commence at gold discovery in WA

Thursday, February 18, 2016

Alloy Resources readies for Doray exploration to commence at gold discovery in WA

Alloy Resources (ASX:AYR) is watching with more than a passing interest a new exploration campaign by Doray Minerals (ASX:DRM) at the Horse Well Gold Project in Western Australia which saw two gold discoveries in 2015.

The emerging project, which Doray has earned a 60% interest is located 50 kilometres north of Northern Star Resources' (ASX:NST) flagship Jundee Gold Mine, which produces 240,000 ounces of gold a year.

The partners had some very gold hits in 2015 with one of 65 metres at 2.6 g/t gold and 16 metres at 7.2g/t gold. These were not the only ones with another hole returning 22 metres at 1.4 g/t gold.

Alloy is paying its way to fund a 40% interest, so the $2 million of exploration that has kicked off the 2016 year bears worth close watching as the project is shaping up as one of the better funded emerging discoveries.

 



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