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- Alkane Resources (ALK) has upgraded its Roswell mineral resource by 50 per cent
- The indicated and inferred mineral resource now sits at 10.1 million tonnes at 2.04g/t gold for 660,000 ounces and remains open at depth and to the west
- The Roswell deposit is part of Alkane’s Tomingley Gold Project which contains the soon-to-be-upgraded San Antonio deposit
- Alkane will now conduct further infill and extensional drilling at the mineral resource to define the continuity of mineralisation to the north and high-grade zones at depth
- Company shares are trading 2.39 per cent higher for $1.29
Alkane Resources (ALK) has upgraded the indicated and inferred mineral resource for its Roswell deposit by 50 per cent.
The Roswell Mineral Resource now sits at 10.1 million tonnes at 2.04g/t gold for 660,000 ounces. The resource remains open at depth and to the west.
Roswell is part of Alkane’s 440-square kilometre Tomingley Gold Project in New South Wales. Tomingley also contains the soon-to-be-upgraded San Antonio deposit which has undergone significant drilling as well.
“The Roswell Resource represents the most attractive zone of broad mineralisation identified so far in the Tomingley region,” Managing Director Nic Earner said.
“This deposit, together with San Antonio, and good reserve replacement at
Tomingley underground is showing a clear pathway to achieving a further 10+ year mine life for Tomingley,” Nic added.
Alkane released a maiden inferred mineral resource for Roswell in January this year which was 7.02 million tonnes at 1.97g/t gold for 445,000 ounces.
A further 29,000 metres of drilling began earlier this year to update the inferred and mineral resource further.
The mineral resource will be subject to further infill and extensional drilling to define the continuity of mineralisation to the north and define high-grade zones at depth.
“Now that resource drilling is complete at Roswell, and nearing completion at San Antonio, consultation, permitting and licencing to facilitate mining is being expedited with the relevant stakeholders and NSW government departments,” Nic concluded.
Company shares are trading 2.39 per cent higher for $1.29 at 11:03 am AEDT.
