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Alkane Resources progresses regional exploration to extend Tomingley life

Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) managing director Nic Earner​​​​ joins Proactive’s Tylah Tully to discuss the company’s progress on regional exploration efforts at the Tomingley Gold Project (TGP) in Central West New South Wales. Work at TGP is aimed at extending the life of the Tomingley Gold Operations (TGO), currently planned to operate until 2032. The TGP spans 440 square kilometres and includes the TGO’s open pit and underground operations. A processing facility expansion to a capacity of 1.75 million tonnes per year is planned by FY26. Exploration success has previously added resources at the Roswell and San Antonio deposits, now integrated into TGO, with Roswell's underground ore processing starting in April 2024. Ongoing exploration focuses on new targets within TGP, including Plains, El Paso and Allendale. Recent activities include airborne geophysical surveys, aircore drilling, reverse circulation (RC) and diamond drilling, which have revealed promising assay results and new geological insights. Survey data and drilling have identified new structures, prospective volcanic belts and potential porphyry sources, prioritising future exploration targets. #ProactiveInvestors #AlkaneResources #ASX #TomingleyGoldProject #GoldExploration #MiningAustralia #RegionalExploration #DrillingResults #GoldMining #TGP #ResourceDevelopment #ExplorationProgress #GeophysicalSurveys #GoldDeposits #PorphyryTargets #CentralWestNSW #MiningNews #AirborneSurveys #DiamondDrilling #RCDrilling #GoldAssays #ExplorationTargets #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Broadcast on:
07 Oct 2024
Audio Format:
other

Hello and welcome back to the Proactive Studio. I'm Tyler Tully, and today I'm joined by our camera's also managing director Nick Erner. To talk us through the exploration efforts, it's completed at the Tommingly Gold project in New South Wales. Nick, thanks for joining us. Thanks for having me, Tyler. Great to be with you again. Sorry, let's get into it. You've completed a pretty extensive exploration program at the project across the past 12 months. Can you give us a bit of a high level overview and give us a rundown of how you've progressed so far? Absolutely. As people will probably be aware, we have an exploration team in Orange, and another section of that is based at P Kilters, South of Tommingly, and we're always exploring, always reviewing data. And this is a summation of a whole heap of work that we've done over the last period of time. So in particular, you know, we've had a student look and do a thesis on whether or not we can find more gold in and around P Kilters, so that's been quite interesting. We've done a seismic survey, but all of that is to try and improve our targeting accuracy across the area. So I think in particular of most interest to people will be some of the work we've done around San Antonio, Plains to the east of the pits that we're talking about, San Antonio, where we're going to have some open cuts coming up, and then El Paso to the south of the Roswell San Antonio area. So polypial work, but a lot of it is really laying the groundwork for the next stage. And you've just released the latest results from an air core program. Can you run us through these and give us the highlights? Yeah, so I guess if we look first at the Plains deposit, we definitely have mineralisation there to the east of Roswell. So that's pretty interesting. We'll need to do some RC out there to follow up whether that's, well, that's just in on the edge of the ML, where we've the mining list that we have granted there, and particularly down at El Paso, that's quite interesting. People should be aware that the hardware that we've talked about moving and we'll be looking to commence next year, and the land that we purchased, all of that has been set up assuming that we will find resources at El Paso. So we're actually well set up for that for the mines future. So we like that. Some of those are all great intercepts down there, and that could be reached underground from San Antonio, so that's very interesting. And then San Antonio itself, yeah, we're finding extensions to the south a little bit to the east, and so the work that we're going to be doing there over the rest of this quarter is going to be quite interesting. And as you said, a focus of exploration has been sort of revealing new target areas. Your latest program did do that. Can you talk to us about these new targets that you've identified? Yeah, I think that the most important one that we're going to be following up that will be of most interest to everybody will be deep under San Antonio. So under San Antonio, we have two open pits planned and scheduled and approved. And underneath that, we think the mineralization extends at depth, and we've certainly got indications to that with some of the work that we've done. And so over this coming quarter, we'll be drilling a series of deep holes underneath that looking for extensions that could be accessed either from San Antonio pits or from Rosewell underground going forward. I think that's the most interesting one. And then like I referred to expanding under the El Paso because were we to develop another underground mine that would be certainly, you know, very pleased about that, of course. Sorry, how are you placed moving forward? What's sort of coming up in the next couple of months for the company? Yeah, so coming up, I mean, we'll put our quarterly report out and you and I'll no doubt be talking next week when we do that. And then, of course, the San Antonio deep drilling is something that will get those results through when they come. And then, of course, for us, really, it's just delivery of, you know, we're doing work on a pace plant, we're doing work on processing and fine grinding circuit at Tomingly. So it's really just getting on and getting it done at Tomingly, I think, where in many cases, no negative news is good news. So yeah, but we look forward to talking more about soon about the last quarter and then the quarter going forward. But from an exploration perspective, it's the San Antonio deeps that will be particularly interesting over the coming quarter. Definitely sounds like exciting times for the company. And we hope to talk to you next week about your quarterly. Nick, thanks for joining us. Thanks a lot. Much appreciated.