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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 eyes additional resources after 4m at 38.93g/t gold at Tomingley

17th Aug 2011, 2:48 am

Alkane Resources (ASX: ALK) has intersected some high grade near surface gold at the Tomingley Gold Project, allowing the company to potentially boost the resource.

The highlights were from reverse circulation drilling at the Caloma Two deposit, and included 10 metres at 19.95 grams per tonne (g/t) gold from 92 metres, including 4 metres at 38.93g/t gold, and 5 metres at 9.07g/t gold from 51 metres.

This high grade hits are further supported by broader intersections, including:

- 15 metres at 4.13g/t gold from 48 metres;
- 14 metres at 2.40g/t gold from 214 metres; and
- 9 metres at 4.35g/t gold from 76 metres.

The outcome is gold mineralisation has now been defined within three structures in an 80 metre wide corridor over a 300 metre strike length, with further drilling to be undertaken by Alkane to further define the resource.

In other Alkane news at the project, the Caloma deposit drilling has kicked off to move resources to the high confidence category of Indicated from Inferred.

Tomingley is located in New South Wales, about 400 kilometres northwest of Sydney.

The project is based on three gold deposits strategically located 14 kilometres north of the company’s Peak Hill Gold Mine.

Tomingley has a resource of 660,000 gold ounces with a Definitive Feasibility Study at the project completed at the end of last year.

The conceptual development comprises an initial 1Mtpa open pit feed to a standard gravity/CIL gold recovery plant, producing 50,000 to 60,000 ounces per year for 7.5 years.

 

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