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Highlights
- Alkane Resources is expanding exploration at the Tomingley Gold Project (TGP).
- TGP aims to extend the life of its gold operations beyond 2032.
- Promising results from recent surveys and drilling point to new exploration targets.
Alkane Resources Ltd (ASX:ALK) is making significant progress in its exploration efforts at the Tomingley Gold Project (TGP), located in Central West New South Wales. The company’s goal is to extend the operational life of the Tomingley Gold Operations (TGO), which are currently projected to continue until 2032.
Tomingley Gold Project Overview
The TGP covers an expansive 440 square kilometers, encompassing both open-pit and underground operations. Alkane Resources is also planning a major expansion of the processing facility, increasing its capacity to 1.75 million tonnes annually by FY26.
Previously, successful exploration efforts added resources at the Roswell and San Antonio deposits, both of which have since been integrated into TGO. Notably, underground ore processing at Roswell is set to commence in April 2024, further bolstering the company’s operations.
Current Exploration Activities
Alkane's ongoing exploration efforts are focused on new targets within TGP, including areas like Plains, El Paso, and Allendale. A range of advanced exploration techniques, such as airborne geophysical surveys, aircore drilling, reverse circulation (RC) drilling, and diamond drilling, have been employed. These efforts have yielded promising assay results and provided new geological insights, including the identification of new structures, prospective volcanic belts, and potential porphyry sources.
What the Future Holds
The results from recent exploration have helped Alkane Resources prioritize future exploration targets, opening up new opportunities for resource growth at TGP. With the combination of ongoing exploration and planned processing expansions, the company is positioned to extend the life of its operations well into the future.
Alkane Resources’ commitment to regional exploration and development continues to yield positive results, positioning the company for a long-term future at the Tomingley Gold Project.
