Alchemy Resources (ASX: ALY) has reported extensive high-grade iron ore across multiple broad intervals at its 100%-owned Valley Bore project in Western Australia’s Mid West region.
The results confirm thick zones of direct shipping ore (DSO) extending beyond previously drilled areas and strengthen the project’s potential scale ahead of resource definition drilling.
The company highlighted wide intervals of iron enrichment from shallow depths, with intercepts such as 5 metres at 60.1% iron from 52m, 8m at 61.7% iron from 74m, and 20m at 62.9% iron from 14m, including 16m at 64.3m from 15m.
These sit within broader mineralised envelopes, reinforcing Valley Bore’s potential to host significant volumes of DSO.
Alchemy said the consistent grade profile and geological continuity across the drill pattern indicate a robust mineralised system with excellent exploration upside.
Expansion of the Mineralised Footprint
The new intercepts expand the known mineralised footprint along strike and down-dip, with drilling confirming multiple stacked mineralised horizons within the project area that remains open in several directions, allowing for substantial growth as drilling tests extensions into undrilled terrain.
Geological logging identified favourable stratigraphy and structural controls consistent with high-grade ore development in the region.
Alchemy plans to incorporate the results into updated geological models to refine drill targeting for upcoming resource-definition programs.
Priority will be given to delineating higher-grade zones suitable for DSO classification while assessing broader lower-grade halos for potential inclusion in future mine planning.
The company will begin additional drilling once modelling is complete, and expects this work to form the foundation for a maiden resource estimate in 2026.
Project Location Benefits
The Valley Bore project benefits from its proximity to existing transport infrastructure including haul roads and regional export options, which Alchemy said enhances future development optionality.
Strong demand for high-grade iron ore, coupled with the project’s shallow mineralisation and encouraging metallurgical characteristics, provides a favourable backdrop for advancement.
Alchemy will continue integrating geological, metallurgical, and logistical data to define an optimal development pathway aligned with market requirements.
The company executed a binding option agreement in October with Newcam Minerals over the Bryah Iron Ore projects, including Valley Bore.
