Updated Roswell Resource Estimation Lifts Contained Ounces by 50% to 660,000oz - Alkane Resources Ltd
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Updated Roswell Resource Estimation Lifts Contained Ounces by 50% to 660,000oz

  • The Global Mineral Resource (Indicated and Inferred) for the Roswell Deposit has been updated after an additional 29,000 metres of drilling, and now stands at 10.1 million tonnes grading 2.04g/t gold (660,000oz).
  • Total contained ounces have increased 50% from the previously announced January 2020 Inferred Mineral Resource.
  • The resource remains open for extensions at depth, with particular focus on the high-grade zones in southern Roswell, and to the west within the poorly constrained western monzodiorite.
  • Drilling is continuing in the prospective corridor to the south of Roswell and an updated Mineral Resource for the San Antonio deposit is anticipated in December 2020.
  • The resource definition drilling program at the Roswell and San Antonio prospects is ongoing as part of an extensive regional exploration program aimed at providing future additional ore feed, either at surface or underground, for Alkane’s operating Tomingley Gold Operations (TGO). The Roswell Deposit is located 3km south of the TGO mine and processing facility.
  • An underground exploration drive from Tomingley Gold Operations to the Roswell Deposit is under development. Land acquisitions have taken place and planning is underway to facilitate rapid mine development on approval.

Alkane Resources Managing Director, Nic Earner, said:

“The Roswell Resource represents the most attractive zone of broad mineralisation identified so far in the Tomingley region. This deposit, together with San Antonio, and good reserve replacement at Tomingley underground, is showing a clear pathway to achieving a further 10+ year mine life for Tomingley.

“Now that resource drilling is complete at Roswell, and nearing completion at San Antonio, consultation, permitting and licencing to facilitate mining is being expedited with the relevant stakeholders and NSW government departments.”