Significant gold intercepts in central west NSW confirm potential for Alkane Resources’ (ASX: ALK) Tomingley extension.
The broad, shallow high-grade intercepts three to four kilometres south of Tomingley Gold Operations demonstrate potential for material project life extension and flag a potential return to open pit mining.
Over the last year, Alkane has conducted an extensive regional exploration program with the objective of defining additional resources that have the potential to be mined either via open pit of underground operations and fed to Tomingley Gold Operations.
Alkane Resources Managing Director, Nic Earner said: “It is clear from the breadth and grade encountered in the latest drilling that these are the most significant exploration results in the Tomingley region since the initial discoveries by Alkane over 10 years ago. These results are reminiscent of the discovery holes of the deposits that then became our Tomingley Gold Operations. With our processing plant, which is currently treating stockpiles and is soon to be processing underground material, only 4kms away, we will be expediting the drilling and development of these ounces to capture value for shareholders as quickly as possible.”