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- Alkane Resources (ALK) upgrades the global mineral resource for the Roswell Deposit in central New South Wales by 37 per cent to 904,000 ounces
- The indicated and inferred resource for the deposit has been updated following an additional 7000 metres of drilling
- The resource now stands at 14.1 million tonnes, grading two grams of gold per tonne (g/t)
- The total project resources for San Antonio and Roswell now stands at 21.4 million tonnes grading 1.9 g/t gold from 1.31 million ounces, which Alkane plans to further develop
- Alkane Resources last traded at $1.02 on April 29
Alkane Resources (ALK) has updated the global mineral resource for the Roswell Deposit in central New South Wales.
The indicated and inferred resource for the deposit has been updated following an additional 7000 metres of drilling. The resource now stands at 14.1 million tonnes grading two grams of gold per tonne (g/t).
The total contained ounces in Roswell have also increased 37 per cent from a previously announced mineral resource.
The resource remains open to the north and at depth within the main andesite and the newly defined western monzodiorite.
“The Roswell Resource continues to grow and, together with San Antonio, and continued reserve replacement at Tomingley underground, is showing the resources that should deliver a further 10 plus year mine life for Tomingley,” Alkane Resources Managing Director, Nic Earner said.
The total project resources for San Antonio and Roswell now stands at 21.4 million tonnes grading 1.9 g/t gold from 1.31 million ounces. Alkane said its intention is to develop these resources as soon as possible.
“In June 2021 we detailed the life of mine plan and discussed the upside potential that exists to maintain production at over 100,000 ounces of gold a year not only from 2025, but beyond 2028,” Nic Earner said.
“This resource upgrade certainly demonstrates that possibility.”
With the project approval process underway, Alkane said it looks forward to delivering on this potential.
Alkane Resources last traded at $1.02 on April 29.
