Alchemy Resources (ASX:ALY) has pinpointed three high-priority lithium target zones within its Roe Hills tenements in Western Australia, following a recent structural and lithological mapping initiative. The project is a farm-in and joint venture with the Japan Organization for Metals and Energy Security (JOGMEC). This comprehensive campaign included the collection of 5,487 soil samples, along with LiDAR and magnetics data, aimed at refining exploration strategies and understanding pegmatite emplacement timing.
The identified target areas include a 6km by 2km corridor southwest of Global Lithium Resources’ Manna Lithium deposit, a 5km by 1km northeast-striking corridor with lepidolite-bearing pegmatites, and a 5km by 2.5km corridor intersecting coarse-grained gabbro and pegmatites. Field validation work is underway to further map and analyze these regions, while LiDAR data analysis will enhance target area definition. CEO James Wilson emphasized the significance of the identified priority areas, noting the field mapping’s role in developing effective testing strategies. Alchemy’s joint venture with JOGMEC, approved by the Australian Government Foreign Investment Review Board, allows JOGMEC to earn a 51% interest by investing $6 million by March 2029.
