- Alkane Resources (ALK) has received final assay results from infill drilling of the Roswell inferred resource at the Roswell deposit
- The company is planning to update the current resource of 7.02 million tonnes at 1.97g/t gold for 445,000 ounces
- The updated resource is expected to be released in early November
- This recently completed infill drilling program at Roswell consisted of 92 holes for 29,000 metres and Alkane has now received results from the final 21 holes
- Of these new results, a peak grade of 102g/t was intersected
- Alkane is up 4.02 per cent and shares are currently trading for $1.30 each
Alkane Resources (ALK) has received final assay results from infill drilling of the Roswell inferred resource at the Roswell deposit.
The Roswell deposit is part of the 440 square kilometres Tomingley Gold Project (TGP) in New South Wales.
The TGP consists of an open pit mine and an underground operation with a one million tonne per annum processing facility.
Over the past two years, Alkane has undertaken extensive exploration at the Roswell and San Antonio deposits with aims to identify an inferred mineral resource.
These respectively stand at 7.02 million tonnes at 1.97g/t gold for 445,000 ounces and 7.92 million tonnes at 1.78g/t gold for 453,000 ounces.
This recently completed infill drilling program at Roswell consisted of 92 holes for 29,000 metres and Alkane has now received results from the final 21 holes.
Best new results include 45 metres at 6.14g/t gold from 380 metres including one metre at 102g/t gold from 391 metres and eight metres at 23.9g/t gold from 420 metres.
Alkane is now planning an updated resource estimate for Roswell which is expected to be released in early November.
Additionally, infill resource drilling is continuing at San Antonio with an updated resource estimate scheduled for release in late Q4.
Alkane is up 4.02 per cent and shares are trading for $1.30 each at 12:01 pm AEDT.