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Market:	ASX
Sector:	General Mining
EPIC:	ALK
Latest Price:	1.23 (4.68% )
52-week High:	2.63
52-week Low:	0.91
Market Cap:	330.90M

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Alkane Resources Full Alkane Resources profile here

Alkane Resources (ASX: ALK) is a multi commodity mining and exploration company focused on the Central West of New South Wales, Australia. Alkane's shares are also listed as American Depository Receipts (ADR's). The company has built a gold resource inventory of over 1 million ounces at McPhillamys near Orange in a venture with Newmont Australia.

The Company has an advanced feasibility study in progress for the development of the Dubbo Zirconia Project which is based upon a very large in-ground resource of the metals zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

Alkane Resources reports even more significant high grade gold results at Caloma

Monday, November 02, 2009

A geotechnical core hole drilled by Alkane Resources Ltd (ASX: ALK) into the northern end of the Caloma deposit at its Tomingley gold project in Central NSW has intersected significant high grade gold mineralisation.

These intersections, like those previously reported in October, continue to support the concept for the future development of an underground operation at Caloma, in addition to the currently defined deep mineralisation at Wyoming One, said Alkane managing director Ian Chalmers.

The Definitive Feasibility Study for the Tomingley Gold Project is progressing with a revised completion date by the end of November.

The Tomingley Gold Project, which is located about 400 kilometres northwest of Sydney, is centred on three gold deposits located 14 kilometres north of the company’s Peak Hill gold mine.

A programme of 14 core holes was completed to test the geotechnical characteristics of the transported clays covering most of the site.

A further 15 core holes were completed to measure the geotechnical characteristics of the proposed open pit walls for all three deposits.

Data generated by this drilling campaign is still being assessed.

A vertical core hole was drilled near the centre of the deposit Caloma for additional metallurgical data.

Results from this hole, PEGT 007, were reported to the ASX on 2 October and confirmed the stacked multiple mineralised lenses within the current pit shell, but also demonstrated continuation of the mineralising system to a depth of at least 360 metres, 180 metres below the planned pit floor.

The core from the pit wall geotechnical holes has been systematically logged for its geological and engineering characteristics, and selected zones of alteration and mineralisation have been sampled.

Significant results reported from Hole PEGT 004 were: 18 metres grading 8.13g/t gold from 175 metres including 2 metres grading 20.41g/t gold from 176 metres; 2 metres grading 43.05g/t gold from 181 metres, also 5.15 metres grading 15.47g/t gold from 201.85 metres including 1.85 metres grading 34.94g/t gold from 201.85 metres.

This hole was located on the northwest flank of the proposed Caloma pit and drilled towards the south parallel to the pit wall. The hole intersected several zones of mineralisation with patches of visible gold.

Some of this mineralisation is within the current proposed pit shell, confirming continuity of defined ore zones, but intercepts below about 185 metres are currently outside

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