- Alkane Resources (ALK) has found significant interceptions on the San Antonio and Roswell prospects at its Tomingley Operations mine
- Alkane has received assay results from 5000 metres of drilling as part of its ongoing program
- Roswell drilling has been completed, however, San Antonio is still being drilled due to difficult conditions
- Alkane is up 8.15 per cent on the market this afternoon, trading at 73¢ per share
Alkane Resources (ALK) has found significant interceptions on the San Antonio and Roswell prospects at its Tomingley Gold Operations mine.
The Tomingley mine has been operating since 2014 and is located in the Central West region of New South Wales.
Alkane has received assay results from 5000 metres of drilling as part of its ongoing 60,000-metre program, which commenced in June last year.
Results include 84 metres at 4.06 grams per tonne (g/t) of gold from 223 metres and 2.9 metres grading at 78.6 g/t of gold from 248 metres.
Over the past two years, Alkane has conducted an extensive regional exploration program, with an aim to add additional resources that have the potential to become a mine.
The first phase of Roswell drilling is complete and all assays have been received. However, San Antonio is still being drilled due to difficult conditions, which has caused the early abandonment of some drill holes.
The company is expecting to release an initial inferred resource by the end of this month.
“The delay from the expected December release date is due to the impact of the Christmas period in receiving these assay results from the laboratory,” the company told the market.
Alkane is up 8.15 per cent on the market this afternoon, trading at 73¢ per share at 3:55 pm AEDT.