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Alloy Resources to acquire aeromagnetic survey over Western Australia gold target  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 20/02/2013

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(MENAFN - ProactiveInvestors - Australia) Alloy Resources (ASX: AYR) will carry out a detailed aeromagnetic survey over the Crack of Dawn prospect in Western Australia to define the extent of large gold alteration zones identified from December 2012 drilling.

Aircore drilling had returned intersections of 11.5 metres at 1.6 grams per tonne (g/t) gold from 52 metres and 4 metres at 3.1g/t gold.

The 50 metre lined spaced survey covers 90 square kilometres and is scheduled to be completed during late February. Compilation and interpretation by consultants should be completed by mid-March.

Planning is underway for drilling programs at Crack of Dawn to start in March or early April.

Targets to be tested include deep reverse circulation drilling at the Crack of Dawn and Dusk til Dawn prospects below defined alteration zones as well as regional air core drilling of alteration zones defined by detailed aeromagnetic surveying at the 'Golden Eye' target associated with the Crack of Dawn prospect.

Golden Eye is the central feature at Crack of Dawn. The anomaly is an oblong granite body, around which deformation appears to bend stratigraphy and be faulted by north-east structures.

This corridor of deformation trends north-south and can be seen from regional aeromagnetic images to trend southwards into a large regional granite body.

Alloy believes the Golden Eye anomaly sits in a major fault zone that extends northwards from the 5 million ounce Jundee gold deposit, indicating the potential for a large gold mineralised system in the Crack of Dawn area.

Crack of Dawn is located 15 kilometres northwest of the company's main Horse Well gold prospects in an area of extensive surface sand cover adjacent to Lake Nabberu.

The prospect was located by Eagle Mining in the mid 1990's following air-core drill testing of an aero-magnetic anomaly that suggested the presence of a buried granite intrusive and strong structural deformation.


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