Image Sourced Sandfire Resources
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Alchemy Resources has announced Sandfire Resources has commenced air-core drilling in Alchemy’s 100 percent owned Bryah Basin Project.

Located 130 kilometers Northeast of Meekatharra, Bryah Basin consists of a 527 square kilometers ground package.

Drilling will be along the southwest of the De Grussa copper-gold deposit and is designed to test a 40-kilometer strike of the Karalundi sediments.

DeGrussa compromised of a 38-kilometer lateral development and produced 300,000 tonnes of high-grade copper concentrate annually.

These figures would make DeGrussa the largest copper producer in Western Australia.

Phase one begins of 1,000 holes to be drilled at 1,600m by 100m spacing with an additional 1,000 holes approved where prospective geology and mineralisation is identified.

Ground gravity surveys were completed in April and the gravity model will be used to target mineralisation and refine phase two.

Assay results from phase one are expected in May 2019.

Please find announcement attached here

ALY by the numbers
More From The Market Online

BPH Energy boost proves conviction – and a nation thinking about energy

BPH Energy got a speeding ticket from the ASX, and it spells out two things: investor…

BPH Energy renews NT Bonaparte Basin permit

BPH Energy (ASX:BPH) announced on Friday that it has renewed a key licence in the Northern…
The Market Online Video

BPH Energy wraps up Q1 with $6.6M in cash but Canberra still stalling shareholders on PEP-11

BPH Energy wound up Q1 of CY2024 with $6.5M in cash, a growing hydrogen play and…

Lithium Universe successfully locks in $3.65M to advance North American play

Lithium Universe (ASX:LU7) has announced its receipt of a confirmed $3.64M to advance its North American…