Alchemy Resources Limited’s (ASX: ALY) wholly-owned subsidiary Goldtribe Corporation Pty Ltd has won a ballot for a key exploration licence application (E28/3207). This tenement forms part of Alchemy’s 100% owned Karonie Lithium and Gold Project in Western Australia.
The new licence is located 120km to the east of Kalgoorlie and is contiguous with both Global Lithium Resources (ASX: GL1) to the east and Breaker Resources (ASX: BRB) to the north.
The area is highly prospective and Goldtribe’s application was competing with multiple parties. As a result, priority to the ground was determined by a ballot conducted by the Mining Warden in Kalgoorlie, with Goldtribe drawn first in the ballot.
The application will now progress through statutory process with title expected to be granted later this year.
E28/3207 is strategically located on the doorstep of Global Lithium Resources’ Manna Deposit, and along strike of Breaker Resources’ Lake Roe deposit,” CEO, James Wilson, said.
“The acquisition of this tenement builds on our footprint of highly prospective and strategic tenure which sits in proximity to some of the most prolific lithium and gold projects in Western Australia.
“The new lease covers 24.8 sq. km of greenstone and intrusive units and has seen limited drill testing with modern exploration methods. We are delighted to have secured this ground and look forward to starting work as soon as the tenement is granted.”
The Karonie Project now includes 12 exploration licences and two exploration licence applications covering 1,220km2 of highly prospective mineralised structures within Kurnalpi Terrain greenstones 100km east of Kalgoorlie.
The tenements are located along strike of Silver Lake Resources (ASX: SLR) Aldiss Mining Centre, are within 50km of Silver Lake’s Randalls processing plant and cover 38km of the under-explored, gold endowed Claypan Shear Zone commencing just 12km along strike to the south of BRB’s Lake Roe deposit.
Lithium pathfinder anomalism has recently been outlined within eight km of GL1’s Manna Lithium deposit.