The Tomingley Gold Project (TGP) covers an area of approximately 440km2 stretching 60km north-south along the Newell Highway from Tomingley in the north, through Peak Hill and almost to Parkes in the south.
The TGP contains Alkane's currently operating Tomingley Gold Operations (TGO), an open pit mine with a 1Mtpa processing facility that is transitioning to underground.
Over the previous two years Alkane has conducted an extensive regional exploration program with the objective of defining additional resources that have the potential to be mined either via open pit or underground operations and fed to TGO. The program yielded broad, shallow high grade intercepts that demonstrate potential for material project life extension and show that a return to open pit mining and / or underground extension is possible with appropriate resource confirmation, landholder agreement and regulatory approvals.
San Antonio - Roswell Prospect Resource Definition Drilling
Significant broad high grade results were reported from the completion of a 17,519 metre RC and diamond core drilling program for the Roswell and San Antonio prospects (ASX announcements 1 February 2019, 29 March 2019 and 12 June 2019) 3km to 4km south of TGO as well as the El Paso prospect (ASX announcement 17 May 2019). A conceptual Exploration Target was subsequently reported (ASX announcement 9 July 2019).
A 60,000 metre resource definition drilling program was initiated in June 2019 at the Roswell and San Antonio prospects. The first four rounds of results for the initial 28,868 metres were announced to the ASX on 12 August 2019, 23 September 2019, 6 November 2019 and 5 December 2019. Assay results have now been received for a further 5,325 metres of drilling.
The drilling is being undertaken: to define an initial inferred resource at the Roswell and San Antonio prospects with a nominal 40 metre by 40 metre drill hole spacing to a minimum 200 metre vertical depth; is part of a 60,000 metres drilling program comprising approximately 10,000 metres of diamond core drilling and 50,000 metres of RC drilling.
For the drilling being reported: assay results were received for 5,325 metres targeting the San Antonio and Roswell prospects; 3 metre composite RC samples were assayed however, where strong mineralisation is observed by the site geologist it was directly assayed at 1 metre intervals. Assaying of 1 metre re-split samples of 3 metre composites is ongoing; these drilling results comprise of 5 RC holes (1,418m), 8 diamond cored drill holes (2,975m including 1 diamond cored tail of RWRC024), focused on the deeper sections of the Roswell prospect, and 3 diamond core holes (931m) at the San Antonio prospect and a representative section for Roswell at N6390665 (RWD019, RWRC107, RWRC109) is included on page 6
The initial phase of drilling to 40 by 40 metre spacing at Roswell is completed and all assays are now received. These results will be incorporated into an initial inferred resource which is expected to be released in January. The delay from the expected December release date is due to the impact of the Christmas period in receiving these assay results from the laboratory.
Difficult drilling conditions in the southern portion of San Antonio prospect area have caused early abandonment of some drill holes. A specialist collaring and casing tool has now been received, and drilling in this area has resumed. The delay in receiving this tool and the subsequent impact on the drill program means that the initial inferred resource for San Antonio is now expected in March 2020.
Disclaimer
Thisreport contains certain forward looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Alkane Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Alkane Resources Ltd. Actualresults and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.
This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists.
ABOUT ALKANE
Alkane is a gold production company with a multi-commodity exploration and development portfolio. Alkane's projects are predominantly in the Central West region of NSW, but extend throughout Australia through investments in other gold exploration and mining companies. Alkane's gold production is from the Tomingley Gold Operations (TGO) which has been operating since early 2014 and it's most advanced gold exploration projects are in the 100% Alkane owned tenement area between TGO and Peak Hill and have the potential for sourcing additional ore for TGO.
Alkane has other 100% owned exploration tenements in the Central West NSW prospective for gold and copper. The recently announced significant porphyry gold-copper mineralisation intersected at Boda is an example of this potential. Alkane's largest non-gold project is the Dubbo Project (DP), a large in-ground resource of zirconium, hafnium, niobium, yttrium and rare earth elements. As it is an advanced polymetallic project outside China, it is a potential strategic and independent supply of critical minerals for a range of sustainable technologies and future industries. It has a potential mine life of 75+ years. The DP is development ready, subject to financing, with the mineral deposit and surrounding land acquired and all major State and Federal approvals in place.
Contact:
Tel: +61 2 9286 1226
ALKANE RESOURCES LIMITED 
