Alchemy Resources (ASX:ALY) has identified three large and highly prospective lithium target areas at its Roe Hills farm-in and joint venture Project with the Japan Organisation for Metals and Energy Security.
Following extensive fieldwork conducted in May, including structural and lithological mapping with JOGMEC geologists and a structural geology consultant, three priority targets up to 6km x 2km in size have been defined for immediate follow-up exploration.
The targets are aligned along prominent north-east trending structures and feature extensive pegmatite occurrences, with recent LiDAR and magnetic survey data now under expert review to enhance geological interpretations.
Field crews are currently validating the new targets on the ground, with results from LiDAR reprocessing expected by late June.
Target T1 lies along a structural corridor southwest of the Manna Lithium deposit (51.6Mt @ 1.0% Li₂O), featuring widespread pegmatites.
Target T2 includes lepidolite-bearing pegmatites beneath transported cover, while Target T3 intersects gabbro with coarse-grained pegmatites trending along its structural corridor.
Alchemy continues to manage exploration activities during the farm-in period. Under the agreement, JOGMEC can earn a 51% interest by funding $6 million in exploration by March 2029.
CEO James Wilson remarked, "This work has produced large, compelling lithium targets. With heritage clearances complete and geologists in the field, we are positioned to rapidly advance drill planning."
Roe Hills is located along a key structural trend near Global Lithium's Manna Project, with strong geological indicators supporting ongoing lithium exploration.
At the time of reporting, Alchemy Resources' share price was $0.0050.