Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has reported significant new gold intersections from drilling at its El Paso prospect, part of the Tomingley Gold Project (TGP) in Central West New South Wales, highlighting potential to grow resources and extend mine life at the company’s Tomingley Gold Operations (TGO).
The latest results, which come from a broader, multi-method exploration program within 5 kilometres of TGO and across the 440-square-kilometre TGP, include standout hits of up to 25 g/t gold within broader mineralised zones.
“We continue to explore at Tomingley within our approved mining areas and regionally, seeking to add further mine life, scale, and grade to Tomingley,” said Alkane Resources managing director and CEO Nic Earner. “It is pleasing to see the extent of mineralisation in the broader Tomingley region, and we look forward to continuing to add to our resource base.”
El Paso drilling delivers high-grade intercepts
Four diamond core holes targeting a prospective dacite unit — geochemically identical to the host rock for high-grade mineralisation at the southern end of the San Antonio deposit — returned multiple thick and high-grade zones. Significant results include:
- EPD016: 8.2 metres at 3.74 g/t gold from 224.8 metres, including 1 metre at 25.0 g/t; and
- EPD017: 32.1 metres at 1.65 g/t from 66.9 metres, including 4 metres at 3.21 g/t and 2 metres at 3.0 g/t, plus further high-grade intervals downhole.
EPD017 – Sericite-carbonate altered dacite with sheeted quartz-albite veins and pyrite-arsenopyrite selvages from 6.1m interval grading 3.03 g/t Au from 120.9 m.
The dacite unit has been traced over 400 metres in strike length and remains open at depth to the south. A 2,000-metre follow-up diamond drilling program is scheduled to start next month to further define an exploration target.
Tomingley Structure confirms prospectivity
Five reverse circulation (RC) holes tested along the 5-kilometre-long gold-arsenic Tomingley Structure, which hosts the Tomingley Two prospect. Assays confirmed gold-bearing quartz-veined, sericite-altered meta-sediments, with highlights including:
- TORC007: 14 metres at 0.58 g/t gold from 213 metres, including 5 metres at 1.11 g/t and 2 metres at 1.26 g/t; and
- TORC011: 6 metres at 0.78 g/t from 149 metres, including 2 metres at 1.38 g/t.
Work is planned to better characterise structures and lithologies key to high-grade mineralisation.
Regional air-core program identifies new targets
A 17,000-metre air-core program across the Mingelo Volcanic Belt between El Paso and Peak Hill has uncovered multiple new gold anomalies, including zones southeast of El Paso and at the Westray prospect. Notable results include:
- EPAC201 (El Paso SE): 12 metres at 0.35 g/t gold from 75 metres, including 3 metres at 0.93 g/t; and
- WSAC094 (Westray): 3 metres at 0.59 g/t from 24 metres.
Two deeper RC or diamond core holes are planned at the Westray and El Paso SE prospects.
Next steps
Over the next 12 months, Alkane will conduct high-resolution drone magnetic surveys, mapping, soil sampling and about 6,000 metres of RC and diamond drilling at priority targets including El Paso, El Paso SE, Tomingley Two, Glen Isla and Westray.
In parallel, underground drilling continues at McLeans, Roswell North and the Roswell Western Monzodiorite, with results expected in October.