Alchemy is actively exploring two key areas – the Bryah Basin Project and the Murchison Project – in Western Australia.
The Bryah Basin Project contains more than 45 kilometres of strike extent of the Narracoota volcanic sequence, host to Sandfire’s high-grade DeGrussa copper-gold mine. Alchemy is undertaking systematic exploration for copper and gold across the project by employing innovative geophysical and geochemical methods in conjunction with drill testing priority targets. Results to date support the view that the Bryah Basin Project has multiple prospective exploration opportunities that will sustain and justify long term exploration efforts at the project.
The Bryah Basin Project includes the Hermes and Wilgeena gold deposits and the Central Bore gold prospect and the landholding represents a significant under-explored area prospective for gold mineralisation. Indicated Resources at the Hermes and Wilgeena gold deposits total 4.7Mt at 2.0g/t gold (equivalent to 0.3Moz gold). Alchemy has a goal of increasing its gold resources whilst continually evaluating opportunities to commercialise these assets.
The Murchison Project consists of more than 700 square kilometres of tenements located in the vicinity of several large (>1Moz) gold deposits between Meekatharra and Cue. The project is being explored for gold and base metals.