Alloy Resources provides exploration update
Published 09-MAY-2018 16:25 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Alloy Resources (ASX:AYR) has released an update on its exploration activities at its Ophara Cobalt-Gold Project and Horse Well Gold Project.
Ophara Cobalt-Gold Project
AYR has indicated that field teams on-site are completing infill soil sampling of anomalies outlined in its ASX release on 10 April 2018 at the Ophara Cobalt-Gold Project.
So far, a total of 604 samples have been collected for multi-element analysis. With infill sampling finalising, grid extension sampling will be completed within the next two weeks.
It should be noted, however, that this is an early stage company and success is no guarantee. Investors should seek professional financial advice before making an investment.
Horse Well Gold Project
Celia Shear -
AYR has conducted two field reconnaissance trips over the last month with a view to reviewing the surface expression of potential extensions to the Coralie Jean high-grade quartz discovery of neighbouring Renegade Resources Limited.
The company is also reviewing regional data from historical soil sampling along the Celia Shear north of this prospect.
RC drill planning -
AYR plans to complete approximately 1,500 metres total of RC drilling at two key prospects, having secured a contractor to commence around May 20 this year.
The Warmblood prospect is a well-defined mineralisation structure that extends over 700 metres strike length and has only been drilled to less than 100 metres depth. AYR has completed its initial review of mineralisation at the prospect and plans to drill numerous holes to test for higher grade shoots within the structure.
The Dusk til Dawn prospect was last drilled in 2014-15, and has yielded some excellent gold intersections, including:
- DDRC014, 16 metres at 7.2 g/t gold from 109m,
including 6 metres at 16.3 g/t from 116m
- DDRC001, 65 metres at 2.6 g/t gold from 50m,
including 13 metres at 8.17 g/t from 50m
AYR believes that there could be higher grade core to the mineralisation at Dusk til Dawn, and has completed its review using Surpac and Leapfrog software.
Work to date strongly suggests that the high-grade mineralisation is an intersection shoot not previously recognised and a number of holes will be drilled to test this theory.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
