Alaska Air(US:ALK) Globenewswire·2026-02-24 02:19Core 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 [4][5]. Exploration Results - The exploration at Tomingley has revealed extensions to existing deposits and new areas of mineralization, with ongoing drilling demonstrating significant resource expansion potential [4][6]. - 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 [7][17][21]. - The Roswell underground resources are estimated at 5.5 million tonnes grading 2.6 g/t Au, equating to an endowment of 476,000 ounces of gold [11][34]. Drilling Programs - A program of underground drilling at Roswell has been completed, confirming multiple high-grade gold zones within the Western Monzodiorite domain [16][17]. - Exploration drilling at the El Paso prospect has also yielded significant results, including 17 meters grading 4.02 g/t Au [24][39]. - The company has initiated further drilling to test the upper and lower portions of the Inferred domain at Roswell, with completion expected by Q3 2026 [29]. Resource and Reserve Estimates - As of June 30, 2025, the total mineral resources at Tomingley Gold Operations are reported at 19.234 million tonnes with an average grade of 2.2 g/t Au, totaling approximately 1.358 million ounces of gold [33][34]. - The total ore reserves are reported at 10.362 million tonnes with an average grade of 1.9 g/t Au, amounting to approximately 621,000 ounces of gold [35]. Future Exploration Plans - The company plans to conduct further surface exploration drilling at the Wyoming Three deposit and the northern extensions of the main andesite host at Caloma [29]. - Additional drilling at El Paso is planned to confirm the updated geological model and test for extensions to known mineralization [31].