Alliance Resources Limited (ASX Code: AGS) is an Australian gold and base metals exploration company with projects in South Australia and Western Australia.
The Company's flagship asset is the 100% owned Wilcherry Project, South Australia.
On 9 November 2020, the Company announced an updated Mineral Resource Estimate for the Weednanna Gold Deposit (1.106 Mt @ 4.3 g/t gold for 152,000 oz), part of the Wilcherry Project.
The Mineral Resource confirms Weednanna as a quality gold deposit with outstanding economic potential.
On 18 April 2019, the Company announced the results of a Scoping Study for Weednanna, confirming a positive and robust gold project, including the construction of a new 250,000 tpa gold processing plant and tailings storage facility for a total capital cost of approximately $44 million (includes $8 million open pit pre-strip).
This is the first step towards establishing Wilcherry Project area as an emerging gold producing district in South Australia.
Alliance also owns the Nepean North Project, Western Australia which is prospective for gold.