Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alkane Resources (ALK) has completed its 60,000-metre resource definition drilling program on the San Antonio and Roswell prospects in New South Wales
  • Drilling began in June 2019 and aimed to define an initial inferred resource at both prospects
  • While the Roswell maiden inferred resource was announced in January, the latest results will be included in San Antonio’s upcoming resource estimate
  • Alkane is continuing its second phase of infill resource drilling across Roswell and San Antonio, which includes roughly 50,000 metres
  • Alkane is flat on the market this morning with shares trading for 73 cents each

Alkane Resources (ALK) has completed its 60,000-metre resource definition drilling program on the San Antonio and Roswell prospects in New South Wales.

San Antonio and Roswell are located immediately south of the Tomingley Gold Project. This project covers an area of approximately 440 square kilometres and contains Alkane’s Tomingley Gold Operations (TGO).

TGO was initially an open-pit mine with a one million tonne per annum processing facility but has now transitioned to underground.

Drilling commenced in mid-June 2019 and primarily aimed to define an initial inferred resource at the prospects.

The 60,000-metre program included 10,000 metres of diamond core drilling and 50,000 metres of reverse circulation (RC) drilling.

Alkane has now received final assays for the last 7000 metres of drilling.

Highlights include; 13 metres at 2.77g/t gold from 127 metres, including two metres at 11.1g/t gold from 130 metres, 19 metres at 4.90g/t gold from 104 metres, including six metres at 10.8g/t gold from 113 metres, and 18 metres at 12.7g/t gold from 117 metres, including five metres at 35.5g/t gold from 120 metres.

These results will be included in the San Antonio maiden inferred resource which is expected shortly. A maiden inferred resource for the Roswell prospect has already been calculated and was found to contain approximately 7.02 million tonnes grading 1.97g/t gold.

The second phase of infill resource drilling across Roswell and San Antonio is continuing and includes roughly 50,000 metres.

Alkane is flat on the market this morning with shares trading for 73 cents each at 10:07 am AEST.

ALK by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Stanmore Resources (ASX:SMR) gains full ownership of SMC, posts record EBITDA

Stanmore Resources' (ASX:SMR) subsidiary Dampier Coal has signed a share sale agreement with Mitsui to acquire…
The Market Herald Video

" Calidus Resources (ASX:CAI) eyes $20m to accelerate lithium & gold exploration

Calidus Resources (ASX:CAI) has received firm commitments to raise $20 million via a share placement.
The Market Herald Video

" Elmore (ASX: ELE) enters offtake agreement for newly-acquired Peko project

Elmore (ELE) subsidiary Peko has struck an ore sales agreement with Hong Kong-based Royal Advance to ship high-iron concentrate magnetite product to China.