Alkane has now completed drilling at the San Antonio deposit, located near its Tomingley Gold Mine.
The San Antonio deposit demonstrates an Inferred Mineral Resource of 7.92 million tonnes grading 1.78g/t gold (453,000oz).
Resources at Tomingley Gold Operations (TGO) and the exploration tenements to the immediate south of the mine that include the San Antonio Deposit (4km from TGO) are now in excess of one million ounces of contained gold.
The Roswell and San Antonio Resources are now being prepared into conceptual mine plans that can be used to progress mining approvals that would allow ore from the Roswell and San Antonio Deposits to be fed into the TGO one million tonne per annum processing facility. Alkane is seeking to demonstrate a continued mine life at TGO in excess of 10 years.
NSW government approvals for an underground exploration drive to the Roswell deposit has been sought, with equipment purchased, personnel recruited and land acquired to facilitate a rapid development once approved.
View the full ASX announcement