Ann: Alchemy Signs Ni-Co Option Agreement, page-2

thoughts gents?
HIGHLIGHTS
 Option Agreement signed to include Nyngan Ni-Co Project and Woodsreef NiCo-Cu-Au Project into the existing Heron Resources Limited (ASX: HRR) – Alchemy Resources (NSW) Limited Farm-In and Joint Venture Agreement (NSW)
 Nyngan Ni-Co Project includes West Lynn Indicated Resource of 16Mt @ 0.83% Ni, 0.06% Co1) and is analogous to the Homeville Ni-Co-Al deposit 40km to the south held by Collerina Cobalt Limited (ASX: CLL)
 West Lynn resource includes shallow high grade historic intercepts including; 19m @ 1.21% Ni, 0.10% Co from 36m2) , 16m @ 0.98% Ni, 0.07% Co from 37m2) , and 14m @ 1.17% Ni, 0.07% Co from 36m 3)
 Summervale prospect 5km along strike of West Lynn also contains shallow high grade historic intercepts including 13m @ 1.41% Ni, 0.08% Co from 41m, 15m @ 0.91% Ni, 0.04% Co from 36m, and 11m @ 1.02% Ni, 0.04% Co from 27m 1)
 Potential for significant Ni-Co resource expansion along the 22km long West Lynn Serpentinite magnetic anomaly
 Untested scandium (Sc) potential as a result of limited previous analysis for Sc
 Potential to up-grade Ni-Co ore by simple de-sliming, gravity and wet magnetic separation1)
 Several highly prospective Ni-Co-Cu-Au targets associated with the Peel Fault and the Great Serpentine Belt within the Woodsreef Project