Three targets were investigated at Big Daddy prospect - Central Trend, Western Trend and Warmblood Southern extensions.
Infill aircore drilling has confirmed supergene gold with gold values of 8 metres at 275ppb, 8 metres at 133ppb and 4 metres at 172ppb.
Mineralisation is associated with very strong pyrite-sericite alteration and a granite intrusive contact.
Silver values that were restricted to fresh rock at the end of the hole strongly suggest leaching of gold and silver in the weathered zone.
Alloy has 51% of the JV project and is earning 60% through sole-funding exploration while Doray Minerals Limited (ASX:DRM) holds 49%.
The company is planning future exploration programs, which are likely to include a focus on the Big Daddy prospect and also the high-grade Warmblood and Palomino prospect areas.
Horse Well is adjacent to Northern Star Resources Ltd’s (ASX:NST) Jundee Gold Mine.
- Jessica Cummins