Alchemy is actively exploring the key Bryah Basin Project in Western Australia.
The Bryah Basin Project contains more than 40 kilometres of strike extent of the Narracoota volcanic sequence, host to Sandfire’s high-grade DeGrussa copper-gold mine and highly prospective for the discovery of VMS-style base metal deposits.
In 2014 Independence Group NL entered into an Agreement to explore and earn an interest in the base metal prospective part of Alchemy’s Bryah Basin Project. Independence 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 Wilgeena gold deposit and the Central Bore and Seaborg gold prospects and the landholding represents a significant under-explored area prospective for gold mineralisation.
In 2015 Northern Star Resources commenced a Farm-in and Joint Venture Agreement to explore and earn an interest in the remaining gold prospective Bryah Basin landholding, including existing gold resources at Wilgeena (Indicated Resource of 1.36Mt at 1.99g/t gold, equivalent to 87,373 ounces of gold) and significant exploration upside.