- Gold explorer Alkane Resources (ALK) has seen significant positive results at its Tomingley Gold Project in New South Wales
- So far, the company has drilled 44 holes for a total of 9880 metres at the Roswell and San Antonio deposits
- The drilling has shown the continuality of resources at the prospects
- Alkane is preparing plans for both an open-cut and underground mine at Roswell and San Antonio
- Company shares are up 8.06 per cent and are trading for $1.01 each
Gold explorer Alkane Resources (ALK) has seen significant positive results at its Tomingley Gold Project in New South Wales.
The company has currently drilled 44 holes for a total of 9880 metres at the Roswell and San Antonio deposits. The drilling has shown the continuality of resources at the prospects.
Significant intercepts from the Rosewell deposit includes 69 metres grading at 9.12g/t of gold from 218 metres, including 6.7 metres at 28g/t of gold from 2017 metres.
Meanwhile, at San Antonio, results include seven metres at 7.67g/t of gold from 186 metres and two metres at 10.9g/t of gold from 217 metres.
Tomingley Gold Project is located in central New South Wales, near the Newell Highway.
This drilling program was aimed to help with planning for future mining operations. As such, Alkane is preparing plans for both an open-cut and underground mine at Roswell and San Antonio.
Further, these plans will allow for the finalisation of economic and environmental assessments, which would contribute towards approval for Alkane to start underground and open-cut mining.
Alkane Resources is up 8.06 per cent on the market this morning and is selling shares for $1.01 each at 10:22 am AEST.