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West Lynn Project Inferred Ni-Co Mineral Resource Estimate

(compliant with the JORC Code 2012 guidelines)

Deposit Tonnes (Mt) Ni % Co % Al % Fe %
West Lynn 14.7 0.85 0.05 2.4 20.2
Summervale 6.6 0.82 0.04 2.4 19.7
TOTAL 21.3 0.84 0.05 2.4 20

Notes:

  • A lower cut-off of 0.6% Ni was used to report the resource
  • All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)
  • Refer to Alchemy Resources Limited ASX announcement dated 19 February 2019

Summervale Inferred Alumina Mineral Resource Estimate

(compliant with the JORC Code 2012 guidelines)

Deposit Tonnes (Mt) Al2O3% Fe2O3% K2O% Na2O% TiO2% SiO2%
Summervale 6.55 20.8 2.8 1.79 0.43 1.15 64.2

Notes:

  • A lower cut-off of 18% Al2O3 was used to report the resource
  • All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)
  • The grades are not screened/beneficiated figures
  • Refer to Alchemy Resources Limited ASX announcement dated 19 June 2019

Karonie Project Inferred Resource

Deposit Cut-off Grade g/t Au Classification Tonnes Grade g/t Ounces Au
KZ5 0.50 Inferred 3,765,000 0.9 110,200
Parmelia 0.50 Inferred 2,132,000 0.8 52,100
Taupo 0.50 Inferred 605,000 1.2 23,400
TOTAL 0.50 Inferred 6,502,000 0.9 185,700
Deposit Cut-off Grade g/t Au Classification Tonnes Grade g/t Ounces Au
KZ5 0.80 Inferred 1,876,000 1.2 70,600
Parmelia 0.80 Inferred 644,000 1.0 20,700
Taupo 0.80 Inferred 441,000 1.4 19,800
TOTAL 0.80 Inferred 2,961,000 1.2 111,100
Deposit Cut-off Grade g/t Au Classification Tonnes Grade g/t Ounces Au
KZ5 1.00 Inferred 1,047,000 1.4 46,400
Parmelia 1.00 Inferred 238,000 1.2 9,100
Taupo 1.00 Inferred 321,000 1.6 16,300
TOTAL 1.00 Inferred 1,606,000 1.4 71,800

Notes:

Hermes South Joint Venture Indicated and Inferred Mineral Resource Estimate

(compliant with the JORC Code 2012 guidelines)

Hermes South Tonnes (Mt) Grade (g/t Au) Au (Ounces)
Indicated 1.29 1.7 72,000
Inferred 0.95 1.4 42,000
TOTAL 2.24 1.6 114,000

Notes:

  • Joint Venture resource estimate reported on a 100% basis (Superior Gold 80%, Alchemy Resources 20%)
  • Top-cuts were applied to the drill hole composite file prior to grades being interpolated
  • A lower cut-off of 0.6 g/t Au was used to report the resource
  • All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)
  • Refer to Alchemy ASX announcement dated 8 May 2019
  • Technical Reprts for Hermes and Hermes South Resources under the management of the Bryah JV can be found on Superior gold’s website – link to technical reports

Competent Persons’ Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr James Wilson, who is the Chief Executive Officer of Alchemy Resources Limited and holds shares and options in the Company. Mr Wilson is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Wilson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources at the Hermes South Gold Deposit is based on information compiled by Mr Stephen Hyland, a geological consultant working for Superior Gold Inc. Mr Hyland is a Fellow of The Australasian Institute of Mining and Metallurgy, and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Hyland consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The West Lynn and Summervale estimates were completed by Stephen Godfrey of Resource Evaluation Services, who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Godfrey is a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Godfrey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Mineral Resources is based on information announced to the ASX on 19 February 2019 (West Lynn Ni-Co), 19 June 2019 (Summervale Al2O3) and 31 July 2020 (Hermes South Au). Alchemy confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply.

The information in this report that relates to Karonie Mineral Resources is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Richard Maddocks is an employee of Auranmore Consulting. Richard Maddocks has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Richard Maddocks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.