Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has substantially increased the Mineral Resource at the Storheden gold deposit in northern Sweden, strengthening its potential to become a satellite mining area for the nearby Björkdal operation.
The updated estimate comprises an Indicated Resource of 1.07 million tonnes grading 2.51 g/t gold for 87,000 ounces and an Inferred Resource of 1.85 million tonnes at 2.11 g/t for 125,000 ounces.
This takes the total contained gold resource to about 212,000 ounces and delivers Storheden’s first Indicated Resource. Inferred contained gold has increased by around 26% from the previous estimate of 99,000 ounces.
Regional geological map of the eastern Skellefte district, showing major deposits and merged outlines of exploration permits held by Alkane Resources.
High-grade drilling extends mineralisation
The resource update incorporates 28 additional diamond drill holes totalling 14,061 metres from drilling completed during 2025 and the opening months of 2026.
During the latest campaign, Alkane completed 16 extensional diamond holes for 7,965 metres, primarily targeting two areas close to existing surface and underground infrastructure.
Fourteen holes drilled into Target Zone A extended high-grade mineralisation by about 450 metres to the east. The zone remains open along strike in both directions and at depth.
Standout results included:
- 107 g/t gold over 0.4 metres from 293.3 metres;
- 50.9 g/t over 0.95 metres from 406.2 metres;
- 39.2 g/t over 0.6 metres from 496 metres;
- 36.1 g/t over 0.5 metres from 491.4 metres; and
- 27.4 g/t over 0.7 metres from 133.3 metres.
Visible gold was identified in several quartz veins, while drilling showed encouraging consistency in the frequency, orientation and geometry of the mineralised structures.
Two holes also tested Target Zone B at depth, with one intersecting multiple veins containing visible gold. The area is not yet sufficiently drilled to support a resource estimate but remains a priority for further work.
Storheden remains open in all directions
Storheden is around 700 metres north of the Björkdal mine and has now been traced through drilling across a broader 2.7-kilometre strike length and to a depth of 464 metres.
The updated Mineral Resource itself has been defined over about 800 metres of strike, across a width of roughly 1,300 metres and from surface to around 500 metres depth.
Mineralisation remains open in all directions, including at depth where Storheden has been tested to only about half the depth of the mineralised system at Björkdal.
Alkane said the latest geological modelling had improved its understanding of the structural controls on the gold-bearing quartz veins. Massive mafic sills and key stratigraphic contacts are interpreted to have focused deformation and mineralising fluids, providing additional targets for follow-up drilling.
Although direct connectivity between Storheden and Björkdal has not been established, the deposits have comparable styles of mineralisation and may share a common source of gold-bearing fluids at depth.
“Storheden represents an exciting new growth prospect at Björkdal,” Alkane managing director and CEO Nic Earner said.
“The positive drilling results of this latest campaign begin to demonstrate the scale of the deposit, with the extent and depth continuity still unknown and open.”
Earner said the company would continue defining the deposit’s limits and improving resource confidence while progressing underground development and permitting requirements.
Detailed plan view, long section and cross section of Storheden, showing 2026 intercepts in relation to previous drilling, modelled wireframes and target zones.
Next steps
Alkane plans an initial 10,000 metres of surface drilling at Storheden during the 2027 financial year to expand the resource and establish the boundaries of the mineralised system.
The results will also help refine the design of an underground exploration drive, with development scheduled to begin in September 2026.
The drive is intended to provide a platform for deeper exploration and infill drilling and could ultimately support future production from Storheden.
Further details on the updated resource are expected to be included in Alkane’s annual NI 43-101 technical report for Björkdal, scheduled for September 2026.
About Alkane Resources
Alkane Resources is an Australia-based gold and antimony producer with three operating mines across Australia and Sweden.
Its wholly owned operations include the Tomingley gold mine in New South Wales, the Costerfield gold-antimony mine in Victoria and the Björkdal underground gold mine in Sweden.
Björkdal is about 30 kilometres northwest of Skellefteå and has produced approximately 1.69 million ounces of gold since mining began in 1988.
Alkane also owns the Boda-Kaiser gold-copper porphyry project in New South Wales, where it has outlined a potential development pathway through a scoping study.