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Highlights
- New gold intersections at El Paso prospect
- Extended exploration plans for Tomingley region
- Multiple targets identified for follow-up drilling
Alkane Resources Ltd (ASX:ALK) has announced notable gold discoveries from drilling at the El Paso prospect, part of the Tomingley Gold Project in Central West New South Wales. This development supports the company’s strategy to grow resources and extend the operational life of its Tomingley Gold Operations.
For investors tracking resource sector updates and ASX 100 stocks, the news underscores how exploration activity can shape long-term project value and regional development prospects.
El Paso Delivers Encouraging Results
Recent diamond core drilling targeted a dacite unit geochemically similar to mineralised zones found at the San Antonio deposit. Multiple intercepts revealed substantial mineralisation, confirming the presence of high-grade gold zones. The dacite formation, mapped over a significant strike length, remains open for further exploration both at depth and to the south.
To capitalise on these findings, the company plans a follow-up drilling program aimed at refining the geological model and defining additional exploration targets.
Broader Regional Potential
Alongside El Paso, reverse circulation drilling on the Tomingley Structure confirmed gold-bearing quartz-veined meta-sediments. This structure, which spans several kilometres, hosts further opportunities for resource growth. Work is already underway to better understand the geological controls that influence mineralisation.
An extensive air-core drilling program has also identified multiple new anomalies, including areas southeast of El Paso and at the Westray prospect. These will be tested further through deeper drilling in upcoming campaigns.
Forward Exploration Strategy
Over the next year, Alkane Resources is set to conduct targeted exploration across several prospects, including El Paso, El Paso SE, Tomingley Two, Glen Isla, and Westray. This includes magnetic surveys, mapping, soil sampling, and drilling programs designed to expand the resource base.
Underground drilling at other deposits within the Tomingley operations is ongoing, with results expected later this year. Collectively, these initiatives reflect a strategic focus on maximising the long-term potential of the company’s gold assets.
Frequently Asked Questions
- Where is the El Paso prospect located?
It is part of the Tomingley Gold Project in Central West New South Wales. - What type of drilling has been conducted at El Paso?
Diamond core drilling targeting dacite units and reverse circulation drilling along key structural zones. - What is the next step in Alkane Resources’ exploration plan?
The company will undertake follow-up drilling, mapping, and surveys to expand and refine its resource targets.
