Deep Drilling Identifies Gold Bearing Structure at Tomingley
Globenewswire·2026-02-24 02:19

Core Viewpoint - Alkane Resources Limited has announced significant exploration results and drilling activities aimed at expanding the underground resources at its Tomingley Gold Operations in New South Wales, indicating strong potential for resource expansion both near the mine and regionally [1][4]. Exploration Results - The exploration at Tomingley has revealed extensions to existing deposits and new areas of mineralization, with ongoing drilling demonstrating substantial resource expansion potential [4]. - Recent drilling at the Roswell deposit has confirmed high-grade gold zones, with notable intercepts including 5.9 meters grading 31.0 g/t Au and 17.4 meters grading 4.30 g/t Au [6][16][19]. - At the El Paso prospect, significant results include 17 meters grading 4.02 g/t Au, with high-grade intervals of 14.1 g/t Au and 77.5 g/t Au [22]. Resource Estimates - The Roswell underground resources are estimated at 5.5 million tonnes grading 2.6 g/t Au, totaling approximately 476,000 ounces of gold [11][30]. - The total mineral resources at Tomingley as of June 2025 amount to 19.234 million tonnes with an average grade of 2.2 g/t Au, equating to 1,358,000 ounces of gold [30][33]. Development and Future Plans - The company plans to continue its exploration drilling at the Wyoming Three deposit and the northern extensions of the main andesite host at Caloma, with a second phase of drilling expected to be completed by Q3 2026 [27][28]. - Further exploration efforts will focus on identifying new targets outside the Tomingley Gold Operations, including additional drilling at the Westray prospect [21][26]. Operational Overview - The Tomingley Gold Operations include both open pit and underground mining developments, with a processing facility operating since 2014, located approximately 50 kilometers southwest of Dubbo [5][46]. - Alkane Resources operates three mines across Australia and Sweden, with ongoing regional exploration aimed at growing resources at all operations [48].