Alliance has one exploration licence application in NSW which is prospective for molybdenum-tungsten--copper-gold (Figure 4).
Mt Pleasant Project
ELA5277 is located 30 km south of Mudgee in New South Wales (Figure 4).
The application is located in the Rockley-Gulgong Volcanic Belt and contains the Mt Pleasant porphyry style molybdenum-tungsten occurrence hosted by acid to intermediate volcanics and granite. Mineralisation is stockwork in style over a 3 to 4 km2 area.
The area has been selected to assess the potential of the Mt Pleasant Mo-W prospect and surrounding areas for porphyry-style copper-gold mineralisation. There has been no drilling at this project since 1983.
Alliance considers that the potential for porphyry style copper-gold mineralisation on the margins of the molybdenum-tungsten occurrence and at depth has not been adequately tested.
Proposed work includes reviewing the existing data with emphasis on hydrothermal alteration assemblages and geological/geochemical vectoring for possible extensions to known mineralisation or new discovery beneath cover and at depth; non-destructive re-sampling of available drill cores (portable XRF and PIMA tools); further geophysics and diamond drilling.
Figure 4: Mt Pleasant ELA location showing background Total Magnetic Intensity (RTP) and drill hole collars
Refer to ASX announcement dated 3 May 2016 for further details and competent person’s consent.