JUNIOR explorer Alchemy Resources has been granted iron ore exploration rights for two exploration licences within its 1.7 million tonne Three Rivers gold project in Western Australia.
Alchemy acquired the tenements – part of the Three Rivers project, north of Meekatharra – from listed gold producer Troy Resources in July, intent on developing its gold potential.
While Alchemy remains keenly focused on Three Rivers’ gold opportunities, the project has also been found to be prospective for high-grade haematite.
Prior to its Three Rivers acquisition, Alchemy boosted its mineral assets with the purchase of the Boorara gold project, near Kalgoorlie, from private Brisbane company Polymetals Group.
Alchemy closed Friday unchanged at 4c.
ALY Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
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