- The Global Mineral Resource (Indicated and Inferred) for the Roswell Deposit has been updated after an additional 7,000 metres of drilling, and now stands at: 14.1 million tonnes grading 2.00g/t gold (904,000oz).
- Total contained ounces in Roswell have increased 37% from the previously announced Mineral Resource (ASX Announcement 4 November 2020).
- The resource remains open to the north and at depth within the main andesite and the newly defined western monzodiorite.
- Total SAR project resources (San Antonio and Roswell) now stand at:
21.4 million tonnes grading 1.90g/t gold for 1.31 million ounces.
- Alkane’s intention is to develop these resources as soon as possible. The approval process continues with expected Project Approval in mid-2022.
- The underground exploration drive development from Tomingley Gold Operations is currently located approximately 1,400 metres north of Roswell.
- Exploration drilling is ongoing at the recently discovered McLeans and Plains prospects.
Alkane Resources Managing Director, Nic Earner, said:
“The Roswell Resource continues to grow and, together with San Antonio, and continued reserve replacement at Tomingley underground, is showing the resources that should deliver a further 10+ year mine life for Tomingley.
“In June 2021 we detailed the Life of Mine plan and discussed the upside potential that exists to maintain production at over 100,000 ounces of gold a year not only from 2025, but beyond 2028. This resource upgrade certainly demonstrates that possibility.
“With the Project Approval process well underway we look forward to delivering on this potential for our shareholders, employees and other stakeholders in NSW.”