Alchemy Resources uncovers high-grade gold in phase one campaign at Karonie Gold Project, shares up The ASX-listed gold explorer is preparing for two more drilling phases across its precious metals asset, with work underway to deepen understanding of the Karonie project’s southern tenements. Alchemy has unveiled drilling results from a phase one campaign across three key gold prospects within the Karonie project. Alchemy Resources Ltd (ASX:ALY) is trading higher on tabling a suite of high-grade gold results after completing a reverse circulation (RC) campaign at its Karonie Gold Project east of Kalgoorlie in Western Australia. The precious metals explorer has now received assays from all 27 holes drilled across its wholly-owned project’s Taupo, KZ5 and Parmelia gold prospects.