Alchemy Resources Limited has commenced a reverse circulation drilling campaign comprising up to 15 proposed holes at its 80%-owned Yellow Mountain and Overflow base and precious metals projects in New South Wales.

The current program expands upon the company's previous exploration efforts. The last reverse circulation drilling program at Yellow Mountain in August 2025 involved up to 10 drillholes, whereas the expanded campaign now underway proposes up to 15 holes to test both strike extensions and deeper geophysical anomalies.

Drilling at Yellow Mountain focuses on two distinct target areas. The first tests the northern extension of polymetallic mineralisation intersected during the 2025 campaign, which previously returned notable intercepts including 113 metres at 1.17% copper equivalent in hole YMRC004 and 31 metres at 1.54% copper equivalent in YMRC005. The second objective targets two induced polarisation chargeability anomalies with coincident geochemical anomalism, including a larger 750-metre anomaly located east of previous drilling.

“The late 2025 drilling at Yellow Mountain intersected significant widths of base-metal mineralisation. Follow-up IP surveys defined a coincident target immediately along strike to the north and a larger, deeper 750 metre anomaly to the east. This untested anomaly is spatially distinct and may represent a feeder structure or intrusion-related source beneath the known system.”

— James Wilson, Chief Executive Officer

At the Overflow project, operations target two high-grade gold-polymetallic shoots alongside an untested gap between existing intercepts. Underground work will also test the northern extension of the established 342,000-ounce gold equivalent resource beneath shallow cover within 50 metres of surface.

Alchemy Resources expects to report assay results from the ongoing reverse circulation drilling program across both sites as they become available.

Read the full announcement: Drilling of High-Priority NSW Gold & Copper Targets Underway