Alkane Resources has uncovered a significant intercept at the Roswell prospect in the East Lachlan, New South Wales which has the potential to feed into the future of the Tomingley gold mine.
The intercept of 6.1 metres with a 9.29 grams per tonne grading from 183 metres was part of a 60,000 resource definition drilling program at both the Roswell and San Antonio prospects, immediately south of Tomingley.
The most recent drilling completed 5325 metres with three metre composite reverse circulation samples assayed.
When the site geologist detected strong mineralisation, assays were completed at one metre intervals.
The initial San Antonio drilling was delayed by difficult drilling conditions in the southern area of the prospect, which caused early abandonment to some holes.
Alkane ordered in a specialist collaring and casing tool, so drilling was able to resume. The company now expects results to come out in March 2020.
Alkane has been extensively researching the region during the past two years, with the aim of finding additional resources with potential to be mined via open pit or underground operations, and to feed into Tomingley.
The company announced a $54.8 million capital raising in November to continue funding exploration across the Tomingley corridor, including the Roswell and San Antonio prospects.
It is expecting approvals this month to develop an underground exploration decline that will drive underground from the Roswell and San Antonio prospects to the Wyoming One mine.
The company is hoping to uncover more exciting discoveries in the region, after September 2019 drilling unearthed the Boda prospect, which has been compared to Newcrest Mining’s Cadia Valley.
Alkane will incorporate its Roswell and San Antonio results into an inferred resource report to be released later this month.