Alchemy Resources Limited (ASX:ALY) CEO James Wilson talked with Proactive's Stephen Gunnion about the company's diverse and strategic exploration efforts across Western Australia and New South Wales.
Wilson described Alchemy as a "low cost, high value" explorer that leverages joint venture partnerships to advance its portfolio. Key assets include the Karonie project in Western Australia, which has 111,000 ounces of gold and a lithium joint venture with JOGMEC. In the Bryah Basin, Alchemy is targeting high-grade hematite iron ore and has secured full ownership of a key asset while partnering with Catalyst Metals on a nearby gold project.
The New South Wales portfolio features 342,000 ounces of gold equivalent polymetallic resources, with Yellow Mountain highlighted as a high-priority drill target. “We’ve unlocked all the permitting, and we’re weeks away from drilling that,” Wilson said.
Wilson confirmed Alchemy has $1.89 million in cash to fund near-term activities. Drilling at Yellow Mountain, Bryah iron ore, and the Karonie lithium targets is expected over the next three to six months. The strategy focuses on maintaining a lean cost structure while leveraging partners to fast-track development. “There’s nothing better than having someone else’s money spent on our ground,” Wilson added.
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