Alchemy Resources Limited (ASX: ALY) is an Australian mineral exploration company focused on the discovery and development of gold, copper, and base metals deposits. The company holds interests in tenements located primarily in Western Australia and Queensland; these include the Karonie Gold Project near Kalgoorlie, the Allyndale Gold Project in the Drummond Basin, and the Triva Gold Project in the Hodgkinson Province. Its core activities encompass exploration drilling, geophysical surveys, soil sampling, and resource delineation, with a portfolio emphasizing high-grade gold targets and copper-gold systems.
Founded in 2021 and headquartered in West Perth, Australia, Alchemy Resources targets junior mining investors and operates exclusively within Australia, with no international subsidiaries or parent entities reported. The company offers exploration services and potential joint venture opportunities to strategic partners in the resources sector.
In the past two years, Alchemy Resources has advanced its exploration pipeline through aggressive drilling campaigns, including over 10,000 meters completed at Karonie in 2024, intersecting significant gold mineralization such as 4 meters at 22.3 g/t Au; it also expanded its landholding by acquiring additional tenements in promising gold belts. Recent strategic moves include a A$3 million placement in mid-2025 to fund Phase 3 drilling at Karonie and ongoing discussions for potential farm-in partnerships with mid-tier miners. No major acquisitions, funding rounds beyond equity raises, or reorganizations have been announced in the last 12-24 months.