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 Wilcherry Project in South Australia, a joint venture between Alliance Craton Explorer Pty Ltd (ACE, 75.01%) and Trafford Resources Pty Ltd (Trafford, 24.99%)
Alliance is sole funding $3.2 million in FY2019 and may move to 83.6% ownership of the Wilcherry project.
The Company recently announced a High-Grade Maiden Mineral Resource for the Weednanna Gold Deposit (1.097 Mt @ 5.1 g/t gold for 181,000 oz), part of the Wilcherry Project JV.
The delivery of the maiden Mineral Resource is a significant milestone for the Company and confirms Weednanna as a quality gold deposit with outstanding economic potential.
This is the first step towards establishing the Wilcherry Project area as an emerging gold producing district in South Australia.
Alliance also has 100% owned projects which are prospective for nickel and gold at Gundockerta South and Nepean South in Western Australia.