Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alkane Resources (ALK) has received approval from the NSW Government Resources Regulator to develop an exploration drive from its existing Wyoming One underground operation
  • The gold explorer believes this is an important milestone towards a future potential underground mine at Roswell and San Antonio deposits
  • Alkane says this exploration drive will be large-scale so that it could also assist production in the future
  • Alkane remains unchanged on the market this morning, trading for 77.5 cents per share

Alkane Resources (ALK) has received approval from the NSW Government Resources Regulator to develop an exploration drive from its existing Wyoming One underground operation.

Wyoming is located within the Tomingley Gold Project, 60 kilometres north-south along the Newell Highway in New South Wales.

The gold explorer believes this is an important milestone towards a future potential underground mine at the Roswell and San Antonio deposits.

Alkane says this exploration drive will be large-scale so that it could also assist production in the future.

The approval allows for development within a nominated corridor to help discover the location of mineralisation.

Sourced: Alkane Resources

Managing Director Nic Earner said Alkane has the equipment, workforce and land to allow this development to go ahead.

“We will now incorporate the timing of the drive development into the Tomingley Gold Operations’ budget schedules, as well as our regional exploration plans,” he said.

“Given the prospectivity of the region around our existing operations, this approval provides Alkane with all the exploration and, in time, production options, to extend the life of mine at Tomingley well into the future,” Nic added.

Roswell and San Antonio are now being prepared into conceptual mine plans that can be used to progress NSW Government mining approvals.

Alkane remains unchanged on the market this morning, trading for 77.5 cents per share at 10:22 am AEST.

ALK by the numbers
More From The Market Herald
ActivEX (ASX:AIV) - Managing Director, Mark Derriman

" ActivEX (ASX:AIV) intersects up to 34.6g/t gold at Mt Hogan

ActivEX (ASX:AIV) intersects up to 34.6 g/t gold from the Mt Hogan historical mine within its…

" BHP’s (ASX:BHP) FY22 best annual report in a decade, record dividends

Australia's largest mining company BHP (ASX:BHP) reports its best annual report in more than a decade…

" Corella Resources (ASX:CR9) commences sonic drilling at Tampu, WA

Corella Resources (ASX:CR9) has commenced its sonic resource definition drill program at its flagship Tampu kaolin…
The Market Herald Video

" Horseshoe Metals (ASX:HOR) kicks off first round of drilling at Glenloth Goldfield, South Australia

Horseshoe Metals (ASX:HOR) has kicked off a maiden reverse circulation drilling program at its Glenloth Goldfield…