Rio Tinto strengthens Paterson focus with Alloy Resources

Location of the Alloy-Rio Tinto Exploration farm-in JV with neighbouring holders and mines/prospects. Image: Alloy Resources

Joint venture (JV) partners Rio Tinto Exploration and Alloy Resources plan to commence a drilling program in the Paterson province of Western Australia between April and May this year.

Rio Tinto Exploration has a 70 per cent interest in the E45/4807 tenement after entering into the farm-in agreement in June 2018.

The company is actively exploring the Paterson region amid its discovery of the Winu copper-gold deposit, which is 50 kilometres north of the JV with Alloy Resources.

Alloy Resources stated earthworks for the remaining access tracks and drill pad were set to commence shortly.

The drilling program is planned to comprise a minimum of eight reverse circulation drill holes of up to 250 metres depth across six copper-gold target areas.

According to Alloy Resources, the tenement contains a similar geology to Newcrest Mining’s 32 million ounces Telfer gold deposit, which is located 25 kilometres to the south-east.

“This initial testing is intended to guide follow-up exploration and improve target generation by confirming basement depths and lithologies,” Alloy Resources stated.

“The depth of cover for the initial targets is currently estimated to be 30–100 metres.”

Alloy Resources expects to inform the market as drilling results become available.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.