Cobalt-gold explorer Alloy Resources commences infill sampling
Alloy Resources(ASX:AYR) today announced that infill sampling has commenced on the stronglyanomalous zones defined by the recent soil sampling program at the OpharaCobalt-Gold Project in the Broken Hill region of far west NSW.
The OpharaProject is adjacent to, and has similar geology to, the Thackaringa Cobaltdeposit which has been defined by Cobalt Blue Holdings (ASX:COB). Ten kilometresto the west is the Mutooroo copper-cobalt-gold project owned by HavilahResources (ASX:HAV), which also has similar geology to the Ophara project.
The Australian goldand cobalt explorer today commenced a 750 sample infill sampling program on a200m x 100 m grid designed to refine the peak of cobalt-gold soil anomalies inorder to define areas for drill testing. This work is expected to take about 15days and results a further two to three weeks. Whilst completing this work thefield team will be mapping to locate outcrop of mineralised zones.
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Location ofplanned infill soil sampling over stage 1 anomalies on surface geology:
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AYR has continuedto carry out further interpretation and investigation of the initial soilsampling results.
Literaturereviews for the adjacent Thackaringa cobalt deposits has yielded recentlypublished analysis of cobalt in soils and outcrop at Pyrite Hill which confirmsextensive weathering and leaching (removal) of cobalt in outcrop and the soilprofile - giving 10 to 30 ppm level soil anomalies over and adjacent to theknown Thackaringa Pyrite Hill mineral resource which averages 934 ppm.
This is verysimilar to AYR's soil anomaly at Great Goulburn and also the new area anomaliesat >12 ppm cobalt. Cobalt is extremely mobile in the acid weathering regimeformed by weathering of sulphide (pyrite) in this region.
Unlike atThackaringa where it is just cobalt in pyrite, the Great Goulburnmineralisation also has gold (averaging about 0.4 g/t from RC drilling at GreatGoulburn) and copper (values about half of cobalt) which enables the use ofthese elements as well for locating soil anomalies over the cobaltmineralisation.
AYR ExecutiveChairman Mr Andy Viner said, "It is great to have the crew straight back outthere and defining exactly where the mineralised trends are so we can get inand start drilling as soon as possible. We understand the significance of theanomalous cobalt-gold-copper in soils and look forward to using this techniqueto locate more mineralisation as we expand the survey in the future."
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