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Exploration drilling done at Alkane Resources Ltd (ASX:ALK)‘s Tomingley gold operations in New South Wales has found gold intercepts – some grading beyond five grams per tonne (g/t) – underneath the main resource which could lead to underground mineable ore.
The company has conducted core drilling underneath the open-cut resource at the San Antonio deposit, with the resulting intercepts suggesting a steep plunge to potential underground mineable mineralisation.
Intercepts for one hole include three metres grading 1.79g/t Au from 273 metres, including one metre grading 2.43g/t Au from 274 metres, two metres grading 5.03g/t Au from 416 metres, and one metre grading 2.98g/t Au from 464 metres.
The Antonio gold resource offers ample opportunity for further growth, with more than 1km of continuous strike length, remaining largely undrilled at depth beneath the planned open cuts.
Alkane plans to roll out additional drilling to test the down-dip of several high-grade domains in fertile host rocks such as andesites, monzodiorites, and dacites.
“The broader Tomingley region has many occurrences of gold mineralisation,” Alkane Resources managing director Nic Earner declared. “As well as potential mine extensions of our existing undergrounds we are doing early-stage work on identifying new mining areas.”
Alkane has been trading at 53.5 cents.
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