“Three large target areas… for immediate follow-up”
Alchemy Resources (ASX: ALY), a Sub11 client, has delivered two significant updates this month, highlighting progress across both lithium and iron ore projects in Western Australia.
On June 10, Alchemy announced that “target generation reviews on the Roe Hills Farm-in and Joint Venture area is well advanced” in partnership with Japan’s JOGMEC. “Three large target areas up to 6km x 2km in size have been identified for immediate follow-up,” the company noted.
These targets, located within Alchemy’s Karonie Project, “sit along a series of prominent north-east trending structures, with extensive mapped pegmatite occurrences on all three target areas.” According to CEO James Wilson:
“This work has generated a significant number of very large and compelling priority target areas from the soils and magnetics data completed earlier this year.”
With field crews on site and LiDAR data “currently being analysed,” Alchemy confirmed it is “aiming to further refine these large target areas to enable drill planning to commence as soon as possible.”
“Our ownership of the iron ore on these tenements to 100%”
Just a week earlier, on June 3, the company revealed it had acquired the remaining 50% of the iron ore rights at its Bryah Basin Project. “Alchemy acquires the remaining 50% interest in the iron ore rights at the Bryah Project… for $75,000 cash and a royalty.”
The move follows strong field results, including rock-chip assays “up to 65.9% Fe” and outcropping hematite “up to 80m wide.”
“The Project continues to deliver promising results, with high-grade iron ore rock-chip samples returning assays above 65% Fe,” Wilson said. “The opportunity is particularly compelling given our strategic location 12km from the Great Northern Highway and surrounded by major players in the sector.”
With heritage surveys complete and logistics planning underway, Alchemy is preparing for a maiden drill program at Valley Bore.
Sub11 works with Alchemy to tell factual stories in different ways using LinkedIn—translating complex announcements into accessible, high-impact content.
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