Deep Drilling Reveals Promising Gold Structure
Alkane Resources has exciting news. Deep drilling at its Tomingley Gold Operations revealed a new gold-bearing structure. This significant find occurred in New South Wales, Australia. The company is actively exploring for growth. This discovery adds to the region’s mining potential. It’s a key piece of news for the company.
Unearthing the Structure
Exploration drilling tested a seismic reflector. This feature lies beneath the Roswell Deposit. It also sits near prospects like El Paso. A drill hole, RWD061, was extended deep. It reached 1,392 meters. This drilling hit gold-arsenic enriched hydrothermal breccias. It also found veining. Experts interpret this as a major mineralizing fluid conduit. This confirms the trending potential for resource expansion.
High-Grade Intercepts Reported
Underground drilling focused on the Roswell Western Monzodiorite domain. Results confirm multiple high-grade gold zones. One standout intercept was 5.9 meters grading 31.0 grams per tonne of gold. This included 2.1 meters at 78.4 g/t gold. Another result showed 17.4 meters at 4.30 g/t gold. This interval included 2.5 meters at 21.1 g/t gold. The El Paso prospect also yielded good results. Drilling there returned 17 meters at 4.02 g/t gold. These findings encourage continued drilling.
Expanding Known Resources
Roswell’s underground resources are substantial. They are estimated at 5.5 million tonnes. This resource grades 2.6 g/t gold. It holds about 476,000 ounces of gold. The company aims to improve confidence in these inferred resources. Drilling programs test areas to convert resources to reserves. The deposits remain open at depth and along strike. This suggests significant potential for further resource growth. Alkane continues to explore these areas.
Geological Context and Operations
Tomingley Gold Operations are in central west New South Wales. They are about 50 kilometers southwest of Dubbo. The project is part of the Lachlan Orogen. This region is historically productive for gold. Tomingley itself is an established operation. It began production in 2014. The mine uses open pit and underground methods. It has a 1 million tonne per annum processing facility. This deep drilling confirms the site’s ongoing viability. It also supports long-term production.
Future Exploration Outlook
Alkane Resources’ Managing Director, Nic Earner, expressed optimism. He noted that exploration reveals extensions and new mineralisation. This drilling demonstrates significant potential. It spans both near-mine and regional areas. The company plans further drilling. These efforts will test upper and lower portions of inferred domains. They will also explore new targets. Investors will enjoy seeing this potential unfold.
The Tomingley project continues to be a vital asset. It shows strong potential for expansion. The recent deep drilling results are highly encouraging. They highlight a persistent gold-arsenic system. Alkane Resources is well-positioned for future success. The company’s commitment to exploration drives this growth.
