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Alkane Resources reveals Exploration Target for Roswell, San Antonio, El Paso

The target area has the potential to provide valuable gold resources to increase the mine life of Tomgingley.

prospect locations on map
Resource definition drilling of the Exploration Target has now commenced

Alkane Resources Ltd (ASX:ALK) has defined an Exploration Target of 15.8 to 23.8 million tonnes at a grade ranging between 1.7 to 2.2 g/t gold at its Tomingley Gold Project, NSW.

The target pertains to three primary prospects, Roswell, San Antonio and El Paso, which have over 2,500 metres of combined strike length.

Importantly, the target area lies within 8 kilometres of the existing Tomingley Gold Operations (TGO) one million tonne per annum processing facility and underground mine.

READ: Alkane Resources builds case for major near-mine gold discovery

Alkane’s managing director Nic Earner said: “The Exploration Target highlights the potential to significantly increase the resource around Tomingley Gold Operations in the coming years.

“This Exploration Target is in close proximity to our existing processing operation and underground mine, and could potentially be converted into both increased mine life and increased production.

“Given the potential size and grade of San Antonio alone, Alkane has already commenced the resource definition drilling of this Exploration Target in order to minimise the potential development timetable.”

Last month, Alkane received the final results from its 17,000-metre regional drilling program.

Results continued to suggest that the Roswell, San Antonio, and El Paso gold prospects are all related.

Highlights from the most recent results showed significant intersections between Roswell and San Antonio including 78 metres at 3.51 g/t gold from 214 metres, 24 metres at 3.84 g/t gold from 174 metres and 15 metres at 1.96 g/t gold from 198 metres.

60,000-metre drill program underway

Resource definition drilling at the San Antonio and Roswell prospects has commenced.

This is expected to comprise of over 60,000 metres of predominantly RC drilling.

Other greenfields exploration in the prospective belt will also continue.

Quick facts: Alkane Resources Ltd

Price: 1.07 AUD

Market: ASX
Market Cap: $636.92 m

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