- Core drilling of the Wyoming One deposit has confirmed continuity and extension to the mineralisation below the existing open cut operation.
- Results for the final 8 diamond core drill holes of the 23 hole program have been received.
- The drilling continued targeting of the Hangingwall Zone and Porphyry Zone to 300 metres below the planned base of the open cut.
- Results include:
- WY968D 5.14m @ 8.85g/t Au from 364.5 metres
incl 2.0m @ 21.1g/t Au from 367.0 metres
- WY971D 17.45m @ 2.5g/t Au from 309.1 metres
incl 7.35m @ 4.85g/t Au from 309.1 metres
and 39.8m @ 1.62g/t Au from 420.2 metres
incl 1.89m @ 4.77g/t Au from 423.0 metres
and 6.8m @ 4.74g/t Au from 450.2 metres
incl 1.0m @ 26.2g/t Au from 451.0 metres
- WY972D 18.42m @ 2.43g/t Au from 512.6 metres
incl 9.8m @ 3.17g/t Au from 513.4 metres
- Resource modelling has commenced and will be incorporated into the underground mining study scheduled for completion in Q1 2018.
Read the entire announcement here.
It is with great pleasure that I present to you the Alkane Resources Annual Report for 2017. It has been a positive year in which the Company has largely focused on preparations for significant developments touching both our major projects – the Dubbo Project and the gold operations at Tomingley.
– Ian Gandel
Read the report.
Dubbo Project (DP)
- The modularised build study being conducted by specialist engineers, particularly Outotec, will be completed in the current quarter.
- Upward price movements in the zirconium chemicals and powders, and rare earth magnet markets have continued.
Tomingley Gold Operations (TGO)
- Strong gold production in the quarter of 24,122 ounces at an AISC of A$982/ounce continued the excellent performance from the preceding quarter.
- Site operating cash flow after development costs for the quarter was A$14.0M.
- Quarter Results
- Gold production was above forecast at 24,122 ounces
- Site operating cash costs were A$766/ounce with all in sustaining costs (AISC) of A$982/ounce
- Gold sales 21,610 ounces for revenue of A$36.4 million at an average price of A$1,685/ounce
- Gold forward contracts at 30 September 2017 of 4,500 ounces at average price of A$1,720/ounce.
- Full year guidance for FY2018 remains unchanged at 65,000 to 70,000 ounces of gold at an AISC of A$1,100 to A$1,200.
Gavin Smith, Chair and President of Robert Bosch Australia, nominated for election as a non‐executive director.
Alkane Resources Ltd (ASX: ALK, OTCQX: ANLKY) (“Alkane” or the “Company“) advises that Mr Gavin Smith has been nominated for election as a non‐executive director of the Alkane Resources Ltd Group (“Group“) at the forthcoming Annual General Meeting of shareholders.
As discussed previously, the Company has been seeking to refresh the Board with the appointment of additional independent members who will bring complementary skill sets and diversity to the Group’s leadership team.
Mr Smith (B.Com., MBA, MAICD) has worked for the Bosch group, a leading global supplier of technology and services, for the past 28 years in Australia and Germany and is the current Chair and President of Robert Bosch Australia. In this role he has led the restructuring and transformation of the local Bosch subsidiary. Concurrent with this role, he is a non executive director of the various Bosch subsidiaries, joint ventures, and direct investment companies in Australia and New Zealand. In addition, Mr Smith is the Chair of the Internet of Things Alliance Australia (IoTAA), the peak body for organisations with an interest in the IoT. With these credentials, he is a natural fit to augment the Board as the Company progresses its transformation into an alternative supplier of technology metals into the global market.
Mr Smith has accepted the invitation to join the Board commencing from election at the Annual General Meeting of shareholders which is scheduled to be held in Sydney on Wednesday, 29 November 2017. The current Board unanimously recommends that shareholders vote in favour of his election.
11Ian Chalmers presentation on “Economics of Rare Earth Projects” at the Materials Science and Technology in Pittsburgh.