Alkane Resources Says Drilling at New South Wales Gold Operations Tests Seismic Reflector Feature; Shares Down 3%

MT Newswires Live09:42

Alkane Resources (ASX:ALK) said exploration drilling at its Tomingley gold operations in New South Wales tested a seismic reflector feature beneath the Roswell deposit and near-mine prospects such as El Paso, according to a Tuesday Australian bourse filing.

Drilling encountered an intercept of 8.7 meters grading 1.15 grams per tonne (g/t) grade of gold, the filing said. The drilling identified the reflector as gold-arsenic enriched hydrothermal breccias and veining.

The company also completed an underground drilling program at Roswell targeting the inferred resources hosted by the Western Monzodiorite domain, confirming high-grade gold zones. It encountered intercepts of 5.9 meters grading 31 g/t grade of gold as well as 17.4 meters grading 4.3 g/t grade of gold.

Surface exploration drilling at the Tomingley mine site started with diamond core drilling to test the underground potential at the Wyoming Three deposit.

Alkane Resources' shares fell past 3% in recent trading on Tuesday.

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