Alkane Resources closes in on maiden JORC for Roswell after more assays received
A maiden JORC resource for the Roswell prospect is expected in December.
Company
ASX:ALK
Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer. The company has three wholly owned producing mines across Australia and Sweden: Tomingley (gold, NSW), Costerfield (gold-antimony, Victoria) and Björkdal (gold, northern Sweden). Alkane also owns the large gold-copper porphyry Boda-Kaiser Project in NSW
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A maiden JORC resource for the Roswell prospect is expected in December.
The company’s latest drilling program has yielded broad, shallow high-grade intersections that demonstrate the potential for material project life extension.
The company has received further strong results from regional drilling south of the Tomingley Gold Operations.
This purchase follows on from the recent $1.07 million share purchase by the chairman.
Chairman Ian Gandel is a renowned businessman and an investor in the mining industry since 1994.
Shares hit a high of 48.5 cents this morning, which is up 26% on Friday’s close.
The halt will remain in place until Tuesday, September 10 or when an announcement is released to the market.
The Roswell, San Antonio and El Paso target area has potential to provide valuable gold resources to increase the mine life of Tomingley.
Alkane is a gold producer through its Tomingley operations and also owns a construction-ready rare earths project.
Through an executed share subscription agreement and underwriting agreement, Alkane plans to invest $6 million to build its stake to around 15% in Genesis.
The Peak Hill Gold Mine (PHGM) is on care and maintenance and located 15 kilometres sound of the Tomingley Gold Operations (TGO).
Alkane Resources has gold at Tomingley and rare earths and zircon at Dubbo
Alkane is a gold producer through its Tomingley operations and also owns a construction-ready rare earths project.
The target area has the potential to provide valuable gold resources to increase the mine life of Tomgingley.
Samso seeks to help clients with business development and public investor/relation needs. Samso has more than 30 years of experience in developing business ideas and concepts in the Australasian region.
Equities always move more strongly than the underlying commodity, and the current bout of strength is no exception
Importantly, gold is being intersected within 4 kilometres of the Tomingley processing facility.
Economic brinkmanship between the US and China continues to distort markets
The aim is to apply the clean metal processing technology to its Dubbo Zirconia and Rare Earths Project.
Higher expected production also brings down average operating costs to $950 per ounce.