Peak Hill (Gold; EL6319 + Mining Leases)
Located 15km south of our Tomingley Gold Operations (TGO), Alkane’s Peak Hill Gold Mine operated from 1996 to 2005. Around 153,000 ounces of gold were recovered from the oxide cap of a large sulphide (pyrite) body, which was mined to a depth of 100 metres and processed via a heap leach operation. Since mining ended in 2005, the site has been extensively rehabilitated.
In 2005, it was not economical to produce gold from the large sulphide ore body below the oxide cap, but technological advances and gold price increases in the last two decades have made the Peak Hill deposit worth re-evaluating.
A revised Mineral Resource (JORC 2012), completed in October 2018, identified an initial Inferred Resource of 108,000 ounces of gold. In January 2019, 10 diamond cores were drilled from the western edge of the rehabilitated Proprietary open cut, angled below historic underground workings. Advanced metallurgical testing is underway to establish whether the ore can be pre-treated to allow processing at TGO.
Alkane retains its Mining Lease and Environment Protection Licence for Peak Hill Gold Mine, but any further mine development would require further environmental assessment, government approval, and consultation with the community and Parkes Shire Council.
Peak Hill Mineral Resource (as at 30 June 2019)
|Deposit||Resource Category||Cut-Off||Tonnes (Mt)||Gold Grade g/t||Gold Metal (Koz)||Copper Metal (%)|
|Proprietary Underground||Inferred||2g/t Au||1.02||3.29||108||0.15|
This Mineral Resource estimate is based on, and fairly represents, information that has been compiled by Mr Craig Pridmore, Geology Superintendent Tomingley Gold Operations, who is a Member of the Australasian Institute of Mining and Metallurgy and an employee of Alkane Resources Ltd. Mr Pridmore has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.