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Alkane Resources expands Tomingley growth promise with multiple new gold intercepts

Published: 11:44 16 Sep 2021 AEST

Alkane Resources expands Tomingley growth promise with multiple new gold intercepts

Alkane Resources Limited (ASX:ALK) has released an impressive new set of gold mineralisation intercepts around its Tomingley Gold Operations processing facility in Central West NSW, boosting the operation’s gold potential to new highs.

The company has completed a regional exploration drilling program in recent months with final assay results received from 373 aircore drill holes for a total of 28,595 metres and 26 reverse circulation (RC) holes plus 13 diamond core drill holes for a total of 13,073 metres.

This program tested targets adjacent to Tomingley, including extensions to the San Antonio and Roswell satellite deposits.

High-grade gold mineralisation was identified at the McLeans, Roswell, Plains, El Paso, Tomingley Two and Myalls United prospects.

Tomingley promise better than ever

Alkane managing director Nic Earner said the latest results filled the company with confidence that Tomingley would play a major role in Australia’s gold production future.

“These exploration results around Tomingley demonstrate the continued potential to both expand the existing resources as well as open up new exploration areas,” he said.

“Having highly prospective targets in such close proximity to existing and planned mining infrastructure, such as the McLeans Prospect, which is close to the planned exploration drive, gives us continued confidence in a mine life at Tomingley that could extend well beyond 2030.”

McLeans prospect

Drilling at McLeans Prospect, between Roswell Deposit and the Tomingley site, and adjacent to the underground exploration drive currently being developed, intersected broad gold mineralisation including:

  • 34 metres grading 1.80 g/t gold from 178 metres, including 3 metres at 10.7 g/t from 190 metres; and
  • 19 metres at 1.25 g/t from 242 metres, including 4 metres at 3.39 g/t from 256 metres.

The drilling undertaken at McLeans targeted previously shallowly tested mineralisation with five reverse circulation holes and one diamond drill hole.

Roswell deposit

Five deep diamond core drill holes are testing below the current resource model at the Roswell deposit as well as infilling inferred classified resources.

Results have been received from three of the five holes, raising the confidence within the inferred resource and the vertical continuation of the mineralised structures about 100 metres below the current resource estimate with results including:

  • 20.5 metres at 2.83 g/t from 374.8 metres including 1-metre at 32.3 g/t gold from 381.8 metres, 9.4 metres at 3.82 g/t from 436 metres and 13 metres at 0.86 g/t from 528 metres;
  • 31 metres at 1.11 g/t from 586 metres including 7 metres at 2.85 g/t from 592 metres and 24.3 metres at 1.12 g/t from 631 metres including 3 metres at 2.78 g/t from 649 metres;
  • 0.9 metres at 3.03 g/t from 422.1 metres, 6 metres at 1.01 g/t from 501 metres including 1-metre at 3.03 g/t from 504 metres, 5 metres at 4.12 g/t from 520.3 metres including 1.7 metres at 10.5 g/t from 520.3 metres and 13 metres at 0.45 g/t gold from 530 metres.

Plains prospect

Sterilisation aircore drilling within the Roswell-San Antonio development site identified shallow gold mineralisation one kilometre southeast of Roswell at Plains Prospect, with mineralisation intersected over a 300-metre strike length including:

  • 5 metres at 0.58 g/t from 78 metres to end of hole;
  • 4 metres at 0.48 g/t from 69 metres to end of hole, including 1-metre at 1.06 g/t from 72 metres to end of hole; and
  • 3 metres at 0.66 g/t from 21 metres.

El Paso, Tomingley Two, Myalls United prospects

Drilling results at El Paso, Tomingley Two and Myalls United continue to support the case for these prospects potentially providing viable near mine gold resources with encouraging gold intercepts including:

El Paso - 16 metres at 2.69 g/t from 79 metres including 6 metres at 6.14 g/t from 85 metres; and 5 metres at 0.60 g/t from 102 metres.

Tomingley Two – 3 metres at 0.90 g/t from 102 metres; 11 metres at 1.70 g/t from 158 metres including 4 metres at 3.87 g/t from 159 metres; and 5 metres at 0.83 g/t from 237 metres.

Myalls United – 5 metres at 1.51 g/t from 341 metres, including 1-metre at 5.10 g/t from 341 metres.

Next steps

Assay results are pending for the two remaining deep diamond core drill holes at Roswell and follow up drilling is planned to recommence in October, following a period of sustained wet weather.

The drilling is designed to follow up encouraging results at McLeans, El Paso and Plains prospects as well as targeting below and infilling of inferred resources at San Antonio and Roswell.

Overall, Tomingley covers about 440 square kilometres, encompassing the operating Tomingley Gold Operations, an open pit mine and underground operation with a 1 million-tonnes-per-annum processing facility.

The current defined resources at Tomingley satellite deposits are:

  • Roswell Deposit: 10.1 million tonnes at 2.04 g/t gold for 660,000 ounces indicated and inferred; and
  • San Antonio Deposit: 7.3 million tonnes at 1.72 g/t for 406,000 ounces inferred.

- Daniel Paproth

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