Alkane Resources has identified a significant gold-bearing seismic reflector beneath its Roswell deposit at Tomingley, alongside multiple high-grade zones in the Western Monzodiorite domain, signalling promising resource expansion prospects.
- Discovery of gold-arsenic enriched hydrothermal breccias beneath Roswell deposit
- High-grade gold intercepts confirmed in Western Monzodiorite underground drilling
- Near-mine prospects El Paso and Westray show encouraging gold mineralisation
- Extended drilling to 1,392m depth reveals new structural targets
- Further drilling planned to upgrade resource confidence and test extensions
Exploration Breakthrough at Roswell
Alkane Resources Limited has announced compelling exploration results from its Tomingley Gold Operations in New South Wales, revealing a previously unidentified gold-bearing structure beneath the Roswell deposit. Extending a key drill hole to 1,392 metres, the company intersected a seismic reflector interpreted as a major fault or conduit channeling gold-arsenic enriched hydrothermal fluids. This discovery adds a new dimension to the understanding of mineralisation controls at Tomingley and opens up significant resource expansion opportunities.
The seismic reflector, dipping approximately 30 degrees east and extending over 5 kilometres, was intersected within metasediments hosting hydrothermal breccias and quartz veining. Visible gold was observed, and assay results included intercepts such as 8.7 metres at 1.15 grams per tonne gold and narrower high-grade zones up to 11.4 grams per tonne. These findings suggest the reflector acts as a key pathway for mineralising fluids, potentially linking deeper and near-surface gold mineralisation.
Western Monzodiorite Domain Delivers High-Grade Hits
Complementing the seismic target, underground drilling focused on the Western Monzodiorite domain within the Roswell deposit has confirmed multiple wide, high-grade gold zones. A recent program of 21 diamond core holes totalling over 4,000 metres returned standout intercepts including 5.9 metres grading 31 grams per tonne gold, with internal zones reaching as high as 78.4 grams per tonne. These results underpin the potential to upgrade a significant portion of the inferred resources to a higher confidence category, supporting future mine planning and reserve conversion.
Such grades and widths are notable in the context of underground gold mining and highlight the Western Monzodiorite as a prime target for ongoing development. The drilling density and systematic grid spacing provide a robust dataset to refine resource models and optimise extraction strategies.
Encouraging Near-Mine and Regional Exploration
Beyond Roswell, exploration drilling at the El Paso and Westray prospects has intersected gold-arsenic mineralisation hosted in the prospective Mingelo Volcanic stratigraphy. At El Paso, diamond core drilling intercepted quartz veining with assays up to 77.5 grams per tonne gold over narrow intervals, while the first RC drill hole at Westray returned significant gold grades near surface. These early-stage results validate the exploration model and justify further drilling to delineate extensions and new resources.
Alkane’s Managing Director and CEO, Nic Earner, emphasised the significance of these findings, noting that the deposits remain open at depth and along strike. He highlighted the company’s commitment to unlocking the full potential of Tomingley through systematic exploration both near mine and regionally.
Looking Ahead: Drilling and Development Plans
Building on these results, Alkane has initiated a second phase of drilling targeting the upper and lower portions of the Western Monzodiorite domain to further upgrade resource classification. Surface diamond drilling has also commenced to test the Wyoming Three deposit and northern extensions at Caloma. Additionally, near-mine exploration is underway at Tomingley One and Two prospects, with plans to test for a copper-gold porphyry beneath the Peak Hill epithermal gold deposits.
Regional exploration will continue with diamond core drilling at Glen Isla to test epithermal gold targets identified by geophysical surveys, and further drilling at El Paso to refine geological models and assess mineralisation extensions. These efforts reflect Alkane’s strategic focus on resource growth and long-term mine life extension at Tomingley.
Bottom Line?
Alkane’s latest drilling success at Tomingley not only deepens the resource base but also sets the stage for a potential step-change in production and value.
Questions in the middle?
- How soon can Alkane convert the inferred resources at Roswell into indicated or measured categories?
- What are the economic implications of the newly identified seismic reflector for mine planning?
- Could the regional exploration successes at El Paso and Westray lead to new standalone deposits?