Introduction

Exploration Strategy

Alchemy has developed an innovative strategy to counter the increased costs associated with exploration in complex covered terrain, and thus de-risking the exploration process.

Alchemy can quickly vector in to gold mineralisation and arrive at key decision points regarding a projects' viability earlier and without the necessity of expensive, multiple pattern drilling programs being completed over several campaigns.

The economic argument supporting improving exploration target selection is absolute. Integrating geology, geophysical and geochemical data in an effective ore deposit model is likely to be the only means to achieve this result.

AT A GLANCE

Magnus Copper Project

• Comprises of approximately 25 kilometres of prospective stratigraphy in the Bryah Basin.
• Exploration has confirmed that the area is highly prospective for the discovery of copper-gold mineralised systems.
• A comprehensive review of all geophysical data collected to date is being undertaken.

Gascoyne Gold Project

• A JORC-compliant indicated gold resource of 2.79Mt @ 2.19 g/t Au (equivalent to 196,650 ounces of gold) with preliminary testwork indicating simple metallurgy and a gold recovery of over 92%.

• Additional RC drilling of projected depth and plunge extensions could provide substantial additional resources and indicate potential zones amenable to underground mining.

• The projects' development will be achieved through several advanced gold prospects, including the Winchester, Trapper West and Blake prospects, which show resource potential and require additional RC and diamond drilling.

Murchison Project

• District-scale 3D geological integrating geology, geophysical and geochemical data in an effective ore deposit model.

• Advanced understanding of the key controls on gold mineralisation within the district.