Alliance Resources shores up gold potential at Weednanna with latest high-grade assays

Alliance Resources (ASX: AGS) has identified up to 166 grams per tonne gold during infill drilling at the Weednanna gold deposit, which is part of the Wilcherry project north of Kimba in South Australia’s Eyre Peninsula.

The results are from a 32-hole reverse circulation program that was undertaken during February at shoots 5, 5E, 6, 9 and 10.

The 3,737m program was designed to increase confidence in the distribution of gold mineralisation within the southern area of the deposit.

Today’s assays have shored up the potential for a shallow high-grade open pit operation at Shoot 10, with highlights of 4m at 6g/t gold from 3m, including 1m at 20.2g/t gold; and 5m at 63.8g/t gold from 14m, including 2m at 154g/t gold.

Over at shoots 5 and 5E, deeper gold was intersected with notable results of 1m at 40.5g/t gold from 78m (Shoot 5); and 11m at 17.3g/t gold from 101m, including 1m at 166g/t gold from 102m.

Advancing Weednanna

Alliance re-started drilling at Weednanna earlier this month, with this campaign to comprise 41 holes for 5,100m.

The program is targeting shoots 2 and 10, with drilling at Shoot 10 designed to firm up near surface mineralisation for a measured resource in the East Pit zone.

Drilling at Shoot 2 is targeting an upgrade to the resource from inferred to indicated status.

Meanwhile, metallurgical test work on Weednanna gold is ongoing, with Alliance looking to optimise the processing flowsheet for the deposit.

During the second half of this year, Alliance plans to publish an updated resource for Weednanna and begin commercial feasibility studies.

Weednanna’s current resource totals 181,000 ounces of contained gold grading 5.1g/t.

Previous drilling at Weednanna has uncovered 60m at 5.7g/t gold and 14m at 36.4g/t gold.

In addition to gold, Weednanna is also prospective for magnetite and has a resource of 224Mt at 28.8% iron, including 11.2Mt at 41.97% iron.

Nepean project

Over at Alliance’s Nepean project in Western Australia, auger sampling has identified a 4.5sq km area of potential gold.

A 250 auger soil sample program was completed and uncovered gold exceeding 7.5 parts per billion.

Alliance is planning an aircore drilling program to test gold in regolith anomalism, which could be a vector towards a primary gold deposit.