Chief Executive Officer Mr James Wilson commented: “Iron ore rock-chip grades above 58% Fe are very encouraging and highlight the DSO potential of the project. It’s an exciting opportunity with our leases surrounded by majors in the sector such as Sinosteel Midwest Corporation to the south. Hematite outcrops are evident over a 900m strike extent at the Southern Ridge target, and we have high grade rock-chip assays from new areas 3km away, so there’s a lot of potential to grow the project. Furthermore, Alchemy has identified a second iron ore occurrence at Old Highway Prospect which has the potential to add further scale. With its proximity to the Great Northern Highway and its advanced Mining Permit status, the Company believes there’s a significant opportunity to rapidly advance this asset in the near term.”
+ Cautionary Statement: The Company cautions investors that the reported historical assay results by Alchemy Resources Limited are from prior public exploration reports. The Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012, and it is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012. The information in the market announcement is an accurate representation of the available data and studies completed to date. All historical information in this release has been compiled from historic data reported by the Company to the ASX on 25 July 2008 – “Assay results of high-grade hematite iron formation at Robinson Range” and a second announcement released to the ASX on 15 May 2009 – “Alchemy enhances potential for high grade iron formation at Three Rivers”. Information is considered as historical by nature, and while all care has been taken to review previous reports, sufficient ground testing and confirmation work is yet to be fully completed.
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