The company took many months (going into a year or more perhaps) in which to find the right areas and tenements as part of its pursuit to be independent ie, something outside its farm-outs with NST and IGO. The former CEO, Kevin Cassidy, and his then Board were pretty fussy I think. they ended up with Karonie and the farm-in in NSW with Heron. The company is now 50/50 gold/base metals. That's a nice balance!
Kevin Cassidy is a well-known and well-respected geologist with many research papers in his CV. He should therefore have known much about the geo structures and architecture and minerals/mining history of both new areas.
Ann: Alchemy Commences Drilling at Karonie Gold Project, page-26
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