Alloy Resources Ltd. on Jan. 30 said it kicked off a 12-hole reverse circulation drill program at the Ophara cobalt-gold project in New South Wales, Australia.

The about 1,100-meter program aims to define the mineralization over an approximately 1-kilometer strike and depth potential of the known cobalt-gold mineralization at the Great Goulburn prospect.

Some of the planned holes will also seek to explain the nature of extensive gossanous quartz-veined structures with anomalous rock-chip samples, which were not tested by drilling previously.

Both magnetic and electromagnetic anomalies associated with cobalt-gold mineralization have been defined by previous ground surveys.

The drill holes will be surveyed by down-hole geophysical methods, which will provide information that can guide future regional geophysical exploration.

The program is expected to take eight days to complete and the results of sample analysis will take a further three to four weeks to be received.

In addition, the company has recently made an application for a contiguous exploration license of 58 square kilometers to the south of the Ophara project, which covers similar geology and is largely unexplored.