Alkane ups its gold resource estimate

Alkane Resources has announced a 13.5 per cent increase in its Tomingley gold project resource estimate.

The increase brings the New South Wales gold project’s resource estimate close to 1 million ounces.

Total Tomingley resource estimates are now sitting at 14.29 million tonnes, grading 2.0g/t for 921,000 ounces of gold.

Located 50 kilometres south west of Dubbo, the Tomingley gold project secured state development approval in July 2012; the project’s mining lease was approved in February 2013.

Construction of the treatment plant and mine site facilities are about 85 per cent complete.

Production is scheduled to kick off in February 2014.