Alchemy Resources Limited announce that the Reverse Circulation ("RC") drill program has commenced at the 100% owned Karonie Lithium-Gold Project, located 110km east of Kalgoorlie. The drilling will consist of 33 RC holes for ~3,000-5,000m and will target 1,200m of strike length of the extensive system of pegmatites that have been identified by field mapping and from detailed soil sampling that was completed recently. Depth of holes
will be up to 150m downhole with spacings of 80m to provide adequate crossover to establish dyke orientation. In addition, a stratigraphic line will be drilled across Hickory to Cherry to establish if there are additional pegmatites under the thin cover which was outlined by the recent infill soil sampling. The drill program will consist of 33 RC holes for ~3,000-5,000m, with drilling designed to target 1,200m of strike length of the pegmatites that have been identified by field mapping. Depth of holes will be up to 150m downhole with spacings of 80m to provide adequate cross over to establish dyke orientation. In addition, a stratigraphic line will be drilled across Hickory to Cherry to establish if there are additional pegmatites under the thin surface
cover. The program will target the Uniaxial Solidification Textured ("UST") pegmatites at the northern end of the Hickory Prospect where both higher tenor lithium and pathfinder element anomalism occurs. Drilling will also test the pegmatites under the transported cover to the north along strike.