Resource Drilling Update for San Antonio - Alkane Resources Ltd
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Resource Drilling Update for San Antonio

The infill drilling of the San Antonio Inferred Resource is now complete, with final assays pending in January 2021. The drilling program comprised of 167 holes for a total of 37,000 metres.

Assay results have been recently received for 51 drill holes, for a total of 10,600 metres.

Alkane Managing Director, Nic Earner, said these latest intercepts from San Antonia demonstrate that, combined with Roswell, there is sufficient quality and scale to deliver a high-grade pit, close to surface, as the next phase of growth at the Tomingley Gold Project.

“These intercepts confirm we have further high-grade mineralisation close to the surface. Many of the latest intercepts suggest a possible improvement to the published resource model, which would certainly be pleasing. We look forward to bringing shareholders the indicated resource and mine plan soon into the New Year.”

Latest significant intercepts for the San Antonio deposit include:

RWRC4553.0 metres grading 5.12g/t Au from 75 metres;
and6.0 metres grading 5.46g/t Au from 158 metres;
incl1.0 metre grading 14.8g/t Au from 159 metres;
and52.0 metres grading 6.37g/t Au from 172 metres;
incl3.0 metres grading 58.3g/t Au from 175 metres.
RWRC45318.0 metres grading 2.73g/t Au from 119 metres;
incl2.0 metres grading 14.4g/t Au from 128 metres.
RWRC44723.0 metres grading 1.53g/t Au from 116 metres;
incl5.0 metres grading 4.00g/t Au from 119 metres;
and1.0 metre grading 7.56g/t Au from 151 metres.
RWRC43612.0 metres grading 3.17g/t Au from 260 metres;
incl2.0 metres grading 14.8g/t Au from 260 metres;
and6.0 metres grading 3.02g/t Au from 276 metres;
incl1.0 metre grading 12.6g/t Au from 279 metres;
and6.0 metres grading 1.93g/t Au from 292 metres.
RWRC41830.0 metres grading 1.45g/t Au from 115 metres;
incl7.0 metres grading 3.43g/t Au from 138 metres.
RWRC4006.0 metres grading 2.16g/t Au from 33 metres;
and15.0 metres grading 1.53g/t Au from 54 metres;
and6.0 metres grading 1.82g/t Au from 98 metres.
RWRC38821.0 metres grading 2.36g/t Au from 179 metres;
incl6.0 metres grading 5.61g/t Au from 187 metres.

The San Antonio updated resource estimate will be released once the assay results are received, expected to be January 2021.