공지 • Aug 04
Alchemy Resources Limited Announces Melrose and Yellow Mountain Exploration Update
Alchemy announced an extensive review of previous exploration at the Yellow Mountain and Melrose Projects in New South Wales has resulted in the discovery of historic samples and assay results from rock chip and drill programs which the company believes highlights significant exploration potential at the Project. MELROSE MAGNETIC ANOMALY ("MMA", ALY 80%): Historic Work: Most of the work undertaken at the Melrose Prospect has involved shallow aircore and RAB drilling averaging around 60m depth, and reverse circulation (RC) drilling averaging approximately 120m depth with limited diamond drilling. A significant portion of the drilling intersected variable depth transported material (>60m) prior to intersecting basement lithologies. The Melrose Magnetic Anomaly ("MMA") is a large, regionally significant magnetic anomaly which extends for over 12km. The MMA is overlain by over 50m of alluvium. There has been sporadic work undertaken since 1968, with the most recent drilling by Triako Resources in 2002 and Paradigm Metals in 2012. Recent Work by Alchemy: Approximately 242 samples from bottom of hole aircore and RC samples have been recovered from drill programs conducted by Triako Limited in 2002 at the MMA. The strategy was to re-sample historic holes that had not been previously assayed using 4-acid digest multi-element geochemistry. Alchemy believes that this modern assaying technique would give a much clearer picture of the potential of the system at Melrose, in particular the area focussed around the MMA. The samples were assayed for 48 elements and the data was interpreted by well-regarded geochemist, Dr. Scott Halley. The data returned significant bismuth, molybdenum, tellurium, and tin anomalism over the southern part of the MMA; these elements are pathfinder elements which are typical in reduced magma gold bearing intrusion style (IRGS) deposits (such as Kidston 5Moz or Mungana 1.2Moz). In addition, the dispersion of the arsenic anomalism at the MMA is offset to the north-east which suggests the intrusion may have been over-turned during deformation. In this model, the gold preferentially accumulates on the top contact zone, which Alchemy believes to be the north-eastern edge of the MMA in an area of approximately 1km x 1km. This area has seen only sparse and shallow historic aircore drilling with a total of 12 shallow holes over this zone. Drilling by previous explorers focussed on the south-western portion of the MMA and was successful in returning high grade gold intercepts. The target for this drilling was a 1km x 1km wide magnetic low modelled as a granodiorite plug. Six diamond holes and five RC holes, all <190m deep except for a 458m diamond hole completed in 1968, have been drilled into the MMA intrusive returning gold intercepts associated with quartz veined, sericite altered granodiorite including: Alchemy believes the previous explorers targeted sub-vertical structures; however, the current thinking that the MMA is the upper section of an overturned IRGS system would suggest the presence of a series of shallow dipping, flat sheeted structures which is broadly apparent in the high grades observed in historic drilling: YELLOW MOUNTAIN MINE PROSPECT (ALY 80%): History: The Yellow Mountain Mine was worked from the mid-1800s. Accurate production records do not exist for the mine; however, the mine reportedly produced 2.74t of lead, 360 kg of copper and 6.2kg of silver from an open pit. The Yellow Mountain Mine Prospect was last drilled in 1986; most of the historic drilling was shallow and many of the drill holes were not assayed for gold. In early 2012, Triako Resources collected 22 rock chip samples from the Yellow Mountain Mine area to evaluate what had previously been considered to be a base metals target. Five samples returned gold assays of more than 1g/t Au with maximum values of 5.5g/t Au, 267g/t Ag, 24% Pb and 11% Zn. Four of those had silver assays of over 100g/t Ag, similar to the mineralization at Alchemy's Overflow Project, located 20km to the north. Historic drilling at the Yellow Mountain Mine Prospect returned broad zones of copper and gold mineralization including: 52m @ 0.54g/t Au, 0.31% Cu, 35g/t Ag, 1.15% Pb, 1.28% Zn from 14m (PYM011); 40m @ 0.49g/t Au, 0.34% Cu, 29g/t Ag, 1.18% Pb, 1.81% Zn from 64m (PYM012); 78m @ 0.32g/t Au, 25g/t Ag from 57.4m (YD02); 66m @ 0.31% Cu, 0.79% Pb, 1.69% Zn from 97.5m (YD02); 45m @ 0.24% Cu, 0.58% Pb, 1.07% Zn from 39.6m (YD05); 16.5m @ 1.08g/t Au, 0.48% Cu, 52g/t Ag, 2.04% Pb, 3.48% Zn from 198m (YD13); 24.4m @ 1.12% Cu, 1.19% Pb, 1.02% Zn from surface (YP05A) (no Au or Ag assays). Recent work by Alchemy: Recently discovered results from sampling of mullock dumps undertaken in 2001 by Golden Cross Resources Ltd. has revealed peak assays of 7.15% Cu, 6.4% Pb & 1.08g/t Au6,7. These samples are located in the area around the historic Yellow Mountain Mine shaft which was operated in the early-mid 1930s. Alchemy sees this as significant, showing the potential for high grade mineralization within the mine. This sample site sits adjacent to previously reported results including 24.4m @ 1.12% Cu, 1.19% Pb, 1.02% Zn from surface in historic drilling. RC drill program planning for MMA and access agreements for Yellow Mountain Mine Prospect underway. Alchemy is now planning a program of RC drilling to test the anomalism associated with the northern portion of the MMA. Historic drill patterns and interpretation suggested drilling targeted sub-vertical lodes. Using the new interpretation of a series of flat dipping structures integrates well into the existing high-grade intercepts from previous explorers. The aim is to test the northern extent of these zones as they approach the top of the intrusion, which is interpreted to sit at the north-eastern contact zone of the MMA.
