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Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: ALK
Latest Price: A$0.94  (-2.59% Descending)
52-week High: A$2.51
52-week Low: A$0.90
Market Cap: A$349.90M
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Alkane Resources Limited
www.alkane.com.au

Alkane Resources (ASX: ALK) is a multi commodity mining and exploration company focused on the Central West of New South Wales, Australia. Alkane's shares are also listed as American Depository Receipts (ADR's).  The company has built a gold resource inventory of over 1 million ounces at McPhillamys near Orange in a venture with Newmont Australia.

 

The Company has an advanced feasibility study in progress for the development of the Dubbo Zirconia Project which is based upon a very large in-ground resource of the metals zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

 

 

Full Alkane Resources Limited profile here
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Alkane Resources extends gold copper 200 metres down-plunge at Wellington

6th May 2011, 5:35 am

Alkane Resources (ASX: ALK) continues to boost the company's resource potential in the central west of New South Wales, with the discovery of a 200 metre down-plunge extension at the Wellington project.

A diamond core drill hole was used to test the down plunge extensions at the Galwadgere Deposit, to test the known mineralisation from 363 metres.

The highlight was; 14 metres at 1.13 grams per tonne (g/t) gold, 0.94% copper and 0.89% zinc, including 4 metres at 0.94g/t gold, 1.69% copper and 2.98% zinc.

Alkane is already preparing further drilling to evaluate the extended resource potential of the latest discovery.

Wellington hosts several targets, including Galwadgere, with the deposit the focus of Alkane in the most recent exploration effort.

Adding to the potential of the project is favourable infrastructure, just three kilometres from the main Western Railway, and near to power and water.

Alkane carried out a drilling program in 2004-5 which has enabled an initial shallow resource to be calculated.

The initial resource estimate at 0.5% copper cut off is an Indicated Resource of; 2.09 million tonnes 0.99% copper and 0.3g/t gold.
 
Alkane said the main zone of mineralisation outcrops over a strike length of 350 metres, and is modelled over a total strike length of about 500 metres extending below Permian cover to the north.

The system is structurally overturned and appears to be capped by a lead-zinc-silver-gold rich bedded massive sulphide with results up to 4% zinc, but to date this has rarely exceeded two to three metres in width.

The company added that there is potential for this horizon to increase in thickness to the north and down plunge. 

 

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