Alkane Resources (ASX:ALK) Improves Roswell Mineral Resources by 37pc – The Market Herald

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  • Alkane Resources (ALK) Improves Global Mineral Resources at the Roswell Deposit in Central New South Wales by 37% to 904,000 Ounces
  • The deposit’s indicated and inferred resources have been updated following additional drilling of 7,000 meters
  • The resource now stands at 14.1 million tonnes, grading two grams of gold per tonne (g/t)
  • Total project resources for San Antonio and Roswell now stand at 21.4 million tonnes grading 1.9 g/t gold from 1.31 million ounces, which Alkane expects to further develop
  • Alkane Resources last traded at $1.02 on April 29

Alkane Resources (ALK) has updated the global mineral resources of the Roswell deposit in central New South Wales.

The indicated and inferred resources of the deposit have been updated following an additional 7,000 meters of drilling. The resource now stands at 14.1 million tonnes at a grade of two grams of gold per tonne (g/t).

Roswell’s total contained ounces also increased 37% from a previously reported mineral resource.

The resource remains open to the north and at depth within the main andesite and the newly defined western monzodiorite.

“The Roswell resource continues to grow and, together with San Antonio, and the continued replacement of Tomingley’s subsurface reserves, shows resources that are expected to provide an additional 10-plus year life at Tomingley,” said the managing director of Alkane Resources, Nic Earner.

Total project resources for San Antonio and Roswell now stand at 21.4 million tonnes grading 1.9 g/t gold from 1.31 million ounces. Alkane said its intention is to develop these resources as soon as possible.

“In June 2021, we detailed the life of mine plan and discussed the upside potential that exists to maintain production at over 100,000 ounces of gold per year not just from 2025, but beyond. 2028,” said Nic Earner.

“This resource upgrade certainly demonstrates that possibility.”

With the project approval process underway, Alkane said it was eager to realize this potential.

Alkane Resources last traded at $1.02 on April 29.

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