Near Mine Exploration at Tomingley Delivers Significant Intercepts - Alkane Resources Ltd
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Near Mine Exploration at Tomingley Delivers Significant Intercepts

Alkane is pleased to announce the latest exploration results for drilling in the region around the Company’s Tomingley Gold Operations (Tomingley) in Central New South Wales.

Regional exploration drilling completed in recent months tested targets adjacent to Tomingley, including extensions to the San Antonio and Roswell Deposits.

Significant gold mineralisation was identified at several prospect areas, all located within seven kilometres of the Tomingley Gold Operations (Tomingley) processing facility.

Drilling at the McLeans Prospect, located between the Roswell Deposit and the Tomingley site, and adjacent to the underground exploration drive currently being developed, intersected significant gold mineralisation including intercepts of:

MCP09234 metres grading 1.80g/t Au from 178 metres;
incl3 metres grading 10.7g/t Au from 190 metres;
and19 metres grading 1.25g/t Au from 242 metres;
incl4 metres grading 3.39g/t Au from 256 metres.
MCD0091 metre grading 3.32g/t Au from 326 metres;
and4 metres grading 7.01g/t Au from 400 metres;
incl1 metre grading 24.6g/t Au from 402 metres;
and6.6 metres grading 2.80g/t Au from 420.6 metres;
and5 metres grading 1.69g/t Au from 437 metres;
incl2 metres grading 3.06g/t Au from 439 metres.

Five deep diamond core drill holes were created to test below the current resource model, as well as infilling Inferred classified resources at Roswell.

Results have been received from three of the five holes, raising the confidence within the Inferred Resource and the vertical continuation of the mineralised structures approximately 100m below the current resource estimation with significant results including:

RWD05220.5 metres grading 2.83g/t Au from 374.8 metres;
incl1 metre grading 32.3g/t Au from 381.8 metres;
and9.4 metres grading 3.82g/t Au from 436 metres;
and13 metres grading 0.86g/t Au from 528 metres.
RWD05331 metres grading 1.11g/t Au from 586 metres;
incl7 metres grading 2.85g/t Au from 592 metres;
and24.3 metres grading 1.12g/t Au from 631 metres;
incl3 metres grading 2.78g/t Au from 649 metres.
RWD050A0.9 metres grading 3.03g/t Au from 422.1 metres;
and6 metres grading 1.01g/t Au from 501 metres;
incl1 metre grading 3.03g/t Au from 504 metres;
and5 metres grading 4.12g/t Au from 520.3 metres;
incl1.7 metres grading 10.5g/t Au from 520.3 metres;
and13 metres grading 0.45g/t Au from 530 metres.

Sterilisation air-core drilling within the Roswell – San Antonio development site identified shallow gold mineralisation one kilometre southeast of Roswell at the Plains Prospect. Mineralisation intersected over a 300 metre strike length including:

RWAC3185 metres grading 0.58g/t Au from 78 metres to end of hole.
RWAC3194 metres grading 0.48g/t Au from 69 metres to end of hole;
incl1 metre grading 1.06g/t Au from 72 metres to end of hole.
RWAC3313 metres grading 0.66g/t Au from 21 metres.

Drilling results at El Paso, Tomingley Two and Myalls United continue to support the case for these prospects potentially providing viable near mine gold resources with encouraging gold intercepts including:

El Paso:EPP04316 metres grading 2.69g/t Au from 79 metres;
incl6 metres grading 6.14g/t Au from 85 metres;
and5 metres grading 0.60g/t Au from 102 metres.
Tomingley Two:TORC0053 metres grading 0.90g/t Au from 102 metres;
and11 metres grading 1.70g/t Au from 158 metres;
incl4 metres grading 3.87g/t Au from 159 metres;
and5 metres grading 0.83g/t Au from 237 metres.
Myalls United:MCD0105 metres grading 1.51g/t Au from 341 metres;
incl1 metre grading 5.10g/t Au from 341 metres.

Assay results are pending for two remaining deep diamond core drill holes at Roswell and follow up drilling is planned to recommence in October, following a period of sustained wet weather.

The drilling is designed to follow up encouraging results at McLeans, El Paso and Plains prospects as well as targeting below and infilling of Inferred Resources at San Antonio and Roswell.

Alkane Managing Director Nic Earner said, “These exploration results around Tomingley demonstrate the continued potential to both expand the existing resources as well as open up new exploration areas.

Having highly prospective targets in such close proximity to existing and planned mining infrastructure, such as the McLeans Prospect which is close to the planned exploration drive, gives us continued confidence in a mine life at Tomingley that could extend well beyond 2030.”