Alkane Reports 9.8 Million Ounces Gold Resource and 621,000oz Ore Reserves in NSW

Overview of Alkane’s NSW Resource Base

Alkane Resources Limited (ASX – ALK) has released its FY25 Mineral Resources and Ore Reserves statement for its New South Wales operations, reporting a total gold resource base of 9.8 million ounces as at 30 June 2025. Notably, 68% of this resource is classified as Measured and Indicated, underscoring a solid foundation for ongoing and future mining activities.

The company’s flagship Tomingley Gold Operations (TGO) continues to mine underground at several deposits including Roswell, Wyoming One, Caloma One, and Caloma Two. These operations are supported by extensive drilling programs, with 55,880 metres completed in FY24 alone, aimed at expanding and refining resource and reserve estimates.

Tomingley Gold Operations – Updated Resources and Reserves

Alkane updated its Mineral Resources and Ore Reserves for the Tomingley Project to reflect mining depletion, additional drilling results, and adjustments for current gold prices and operating costs. The total Mineral Resources stand at 20.25 million tonnes grading 2.25 grams per tonne gold, equating to approximately 1.47 million ounces. Ore Reserves total 10.36 million tonnes at 1.9 grams per tonne gold, or 621,000 ounces.

Importantly, the mining schedule has been revised to accommodate the commencement of the Newell Highway realignment in mid-2025, which affects access and development plans. The Roswell deposit’s open pit resources and reserves have been replaced by underground estimates due to this schedule change, with underground mining methods such as Longhole Open Stoping (LHOS) and paste fill employed to optimize extraction and ground stability.

Boda-Kaiser Project – Stable Resources and Environmental Progress

The Boda and Kaiser gold-copper porphyry deposits, part of the Northern Molong Porphyry Project, maintain unchanged Indicated and Inferred Mineral Resources totaling 796 million tonnes grading 0.33 grams per tonne gold and 0.18% copper, equivalent to 8.3 million ounces of gold and 1.3 million tonnes of copper. When converted to gold equivalent, the resource is approximately 14.7 million ounces.

Alkane has initiated baseline environmental studies in preparation for an Environmental Impact Statement (EIS), a critical step toward project development approval. These studies cover a comprehensive range of environmental factors including flora, fauna, water resources, and heritage considerations. Concurrently, drilling of regional targets in the Boda-Kaiser area is programmed to further explore and potentially expand the resource base.

Operational and Technical Insights

Alkane’s mining methods at Tomingley involve sophisticated underground techniques tailored to orebody geometry and geotechnical conditions, with a focus on maximizing recovery and safety. The processing plant adjacent to the Wyoming Three pit employs gravity recovery, flotation, and carbon-in-leach circuits, with gold doré refined at the Perth Mint.

The company’s governance and internal controls ensure compliance with the JORC Code 2012 standards, with independent reviews and board approvals underpinning resource and reserve estimates. Alkane also maintains strong community engagement and environmental compliance, with approvals in place for current operations and ongoing efforts to secure future consents.

Looking Ahead

With a solid resource base and active underground mining, Alkane is well positioned to sustain production while advancing development projects like Boda-Kaiser. The realignment of the Newell Highway presents logistical challenges but also opportunities for optimized mine planning. Continued exploration and environmental studies will be key to unlocking further value in Alkane’s NSW portfolio.