Alkane Resources has released its annual resources and reserve statement for the 2023–24 financial year (FY24), reporting an 11 per cent increase in gold ore reserves from its Tomingley gold project in New South Wales.
The statement covered all of Alkane’s assets, most notably the Tomingley gold project in New South Wales.
Tomingley’s total mineral resources now equals 24.27 million tonnes (Mt) grading at 2.12 grams per tonne of gold (g/t Au), or 1.65 million ounces (moz).
The operation also saw an 11 per cent increase in gold ore reserves, totalling 11.76Mt grading at 1.9 g/t Au, or 705,000 ounces (oz).
The increase in gold ore reserves contributed to Alkane’s total mineral resource base reaching 10moz, with 68 per cent falling in the measured and indicated category.
Tomingley’s mineral resources and ore reserves were adjusted to consider factors such as additional resources, mining depletion, changes in gold price and operating costs.
Alkane completed significant drilling programs during the year to expand Tomingley’s underground operation, which includes the Roswell, San Antonio and McLeans deposits. A total of 68,155m were drilled, with more exploration underway.
The company also drilled 55,010m at the Boda-Kaiser gold-copper deposits within the Northern Molong Porphyry project, which resulted in revised indicated and inferred resources that equalled 796Mt grading at 0.33g/t Au and 1.3Mt of copper in mineral resources. Further drilling at Boda-Kaiser is also underway.
The Tomingley gold project comprises the Tomingley gold operations – including the Tomingley gold extension project – and the peak Hill gold project.
Open pit mining at Tomingley ceased in 2023, with the operation fully transitioning to underground mining at the Wyoming One, Caloma One and Caloma Two deposits.
The Tomingley gold extension project is extending operations to include the San Antonio and Roswell resources.
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