Latest Alchemy Resources (ASX:ALY) News

Alchemy Resources has delivered compelling assay results from its recent drilling at the Yellow Mountain Project, confirming and extending mineralisation first identified in the 1970s. The standout intercept of 113 metres at 1.17% copper equivalent underscores the project's promising scale and potential.

Alchemy Resources has made significant strides in its June quarter exploration, identifying major lithium targets at Karonie and acquiring full iron ore rights at Bryah, while advancing base metals exploration in NSW.

Alchemy Resources has acquired the remaining 50% stake in the Bryah Iron Ore Project, consolidating full ownership and advancing plans for maiden drilling after confirming high-grade iron ore outcrops.

Alchemy Resources Limited reported a modest net cash outflow in operating activities for Q1 2025 but ended the quarter with a robust cash balance supporting over 17 quarters of funding.

Alchemy Resources reported significant progress at its Karonie Gold-Lithium Project with JOGMEC completing its $600,000 farm-in commitment and over 4,000 soil samples analyzed, identifying 12 priority targets for follow-up. Meanwhile, strong copper and gold assays at Lachlan’s Yellow Mountain prospect and regained Bryah Basin control underscore a busy quarter.

Alchemy Resources Limited reported a slight $15,000 cash outflow in its December 2024 quarter, maintaining a solid cash balance of $2 million as it continues to invest in exploration activities.

Alchemy Resources Limited has received FIRB approval for its joint venture with JOGMEC on the Karonie Gold-Lithium Project, advancing exploration activities with significant soil sampling and drilling underway.