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Alkane Resources Ltd is a gold production company with a multi-commodity exploration and... Alkane Resources Ltd is a gold production company with a multi-commodity exploration and development portfolio. Alkane’s projects are predominantly in the Central West region of NSW, but extend throughout Australia.More

Corporate Spotlight

Alkane Resources Ltd is a gold production company with a multi-commodity exploration and development portfolio. Alkane’s projects are predominantly in the Central West region of NSW, but extend throughout Australia.
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ALK Intersects Significant Gold-Copper at Boda.


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Further core drilling initiated at the Boda Porphyry Prospect

ASX Announcement 14 November 2019 

➢ A follow up drilling program of initially five core holes totaling ~5,000 metres is scheduled to commence to test the substantial Boda porphyry gold-copper mineralisation identified in KSDD003 along strike and down dip.

Northern Molong Porphyry Project(NMPP) 

Alkane Resources Ltd 100% 

The Northern Molong Porphyry Project (NMPP) incorporates three exploration licences; Bodangora (EL 4022), Kaiser (EL 6209) and Finns Crossing (EL 8361), covering an area of 110km2 of the northern Molong Volcanic Belt (MVB), in the Central West of New South Wales.

The recent discovery of significant porphyry style gold-copper mineralisation at the Boda Prospect (ASX Announcement 9 September 2019) within the NMPP, highlights the potential for large porphyry goldcopper deposits in the area. Alkane’s exploration activity has established a geological framework for the region which highlights strong similarities with the Cadia Valley district, 110km to the south. Although apparently structurally more complex than the Cadia Valley area, Alkane has been able to reconstruct the geology in the area and has shown that a stratigraphic sequence very similar to that at Cadia exists within the project area, and that mineralisation is hosted by very similarrock types atsimilarstratigraphic positions.

The Boda target forms part of the Kaiser-Boda intrusive complex which has been mapped over a northsouth strike length of about 5km and 1km wide corridor defined by monzonite intrusives, extensive alteration and widespread low grade gold-copper mineralisation within the host andesite-basalt volcanic and volcaniclastic sequence. A single diamond drill hole (KSDD003, 770.8m) was drilled to test the depth extent of gold mineralisation identified in RC drilling at the northern end of the Boda Intrusive Complex (BIC). KSDD003 returned a broad intercept of 502m @ 0.48g/t gold, 0.20% copper from 211m with extensive alteration indicative of the core zone of a substantial mineralised porphyry system.

As an initial follow up, a program of five diamond core drill holes totaling approximately 5,000 metres have been planned to test the mineralisation along strike to the north and south (see attached plan) targeting surface geophysical anomalies, and below KSDD003 to test for depth continuity and potential grade improvements (see attached section). The drill has been mobilised and is expected to be on site early next week.

Results will be advised on a hole by hole basis as they are received.

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Roswell and San Antonio Resource Definition Drilling Update 

ASX Announcement 6 november 2019 

First phase Roswell drilling completed; initial resource expected in December

Tomingley Gold Project 

Alkane Resources Ltd 100% 

The Tomingley Gold Project (TGP) covers an area of approximately 440km2 stretching 60km north-south along the Newell Highway from Tomingley in the north, through Peak Hill and almost to Parkes in the south. The TGP contains Alkane’s currently operating Tomingley Gold Operations (TGO), an open pit mine with a 1Mtpa processing facility that is transitioning to underground through 2019. 

Over the last year Alkane has conducted an extensive regional exploration program with the objective of defining additional resources that have the potential to be mined either via open pit or underground operations and fed to TGO. The program has yielded broad, shallow high grade intercepts that demonstrate potential for material project life extension and show that a return to open pit mining and / or underground extension is possible with appropriate resource confirmation, landholder agreement and regulatory approvals.

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Quarterly Activities Report to 30 September 2019 

ASX Announcement 21 October 2019 

Tomingley Gold Operations 

  • Development of the underground operation continues on budget and on schedule. 
  • Quarter Results 
    • Low grade stockpiles were processed during the quarter ahead of underground stope production commencement. 
    • Gold production was above forecast at 7,497 ounces. 
    • Site operating cash costs were A$1,000/ounce with AISC of A$1,268/ounce. 
    • Gold sales were 6,997 ounces for revenue of A$15.0M at an average price of A$2,151/ounce. 
  • Guidance for FY20 has been increased to 30,000 to 35,000 ounces of gold at an AISC of A$1,250 to A$1,400 per ounce, largely due to the continued over-reconciliation of the low grade stockpile material. 
  • Ore in addition to the existing underground resource model has been identified, and together with a review of cut-off grade for stope design is expected to lead to increased tonnage and potential mine life extensions. The mine plan modelling is being updated in the coming quarter to factor in any additional mineralisation. 
  • On the back of strong results from exploration and resource drilling to the immediate south of Tomingley, the Company is expediting the process to move to mine development. The Company has commenced consultation with some of the key stakeholders, including landholders and regulators as part of the approvals process. 
  • Purchasing of an additional underground fleet and supporting infrastructure is underway in order to progress mine and exploration development as soon as approvals are received.


  • The results of exploration drilling at the Northern Molong Porphyry Project (Boda drilling) were reported during the quarter (ASX Announcement 9 September 2009). Drill intercept highlights include: 

KSDD003 502m @ 0.48g/t gold, 0.20% copper from 211 metres 

incl 313m @ 0.62g/t gold, 0.17% copper from 228 metres 

incl 12m @ 3.28g/t gold, 0.67% copper from 419 metres 

and 35.8m @ 0.21g/t gold, 0.49% copper from 735 metres to EOH 

  • Resource drilling has continued at the Roswell and San Antonio prospects, results will be incorporated into the first Resource Model, expected to be released in late November.
  • The Company will continue with resource definition drilling, expected to comprise of a further 50,000m of predominantly RC drilling, over the remainder of the financial year. 
  • Planning is currently underway for an exploration program to test targets between El Paso and the Peak Hill Gold Mine within the financial year.


  • Cash, bullion and listed investments position totalled A$73.9M 
    • A$53.5M in cash, bullion on hand at fair value of A$4.9M, and A$15.5M of listed investments at market value. 
  • Agreed to subscribe for a 15% strategic stake in ASX listed gold developer Genesis Minerals Ltd (ASX:GMD). 
  • Continues to hold 13.7% of ASX listed gold developer Calidus Resources Ltd (ASX:CAI). 

Dubbo Project 

  • The commercial scale pilot plant being constructed as part of the investment in Clean Metal Processing Technology with Ziron Tech of South Korea is due to be commissioned in the March quarter. 
  • A demerger and listing of Australian Strategic Materials is under active consideration by the Alkane Board. Consultation with regulators is underway.

Click here to view the full announcement

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