Proactive's Tylah Tully gives us Just the Facts from Alkane Resources Ltd (ASX:ALK, OTC:ALKEF)'s latest ASX announcement. Alkane has reported an 11% increase in gold ore reserves at its Tomingley Gold Project (TGP), as highlighted in its annual statement.
The mineral resource base has now reached 10 million ounces, with 68% of the resources classified as measured and indicated. Ongoing exploration and drilling at both the TGP and the Northern Molong Porphyry Project (NMPP) point towards further resource growth.
The TGP operations moved to full underground mining in 2023, and ore mining commenced at the Roswell deposit during FY24. Extensive drilling throughout the year aimed to expand and refine resources and reserves at TGP, which now totals 24.27 million tonnes grading 2.12 g/t gold for 1.656 million ounces, with a total ore reserve of 11.76 million tonnes grading 1.9 g/t gold.
Additionally, drilling at the Boda and Kaiser deposits within the NMPP facilitated revised estimates of 796 million tonnes grading 0.33 g/t gold and 0.18% copper, equating to 8.3 million ounces of gold and 1.3 million tonnes of copper.
The scoping study projects an NPV of $1.8 billion, based on a 20 million tonnes per annum mining scenario.