Alkane’s Roswell probe uncovers gold below current resource

There are no unidentified flying objects whizzing around at Alkane Resources’ (ASX:ALK) Roswell deposit, but there is certainly more gold hiding within its depths.

Drilling to infill the Roswell and San Antonio deposits, part of the Tomingley project in New South Wales, has uncovered depth extensions about 80m to 100m below the base of the current inferred resource at Roswell.

Top hits are 13m grading 6.17 grams per tonne (g/t) gold from a depth of 484m that includes a higher grade intersection of 5m at 11.5g/t from 488m; 16.5m at 4.74g/t gold from 483.8m, including 1m at 21g/t gold from 489m and 3m at 13.2g/t gold from 494m; and 22.1m at 5.96g/t gold from 534.9m.

Roswell currently has an inferred resource of 7.02 million tonnes grading 1.97g/t gold, or 445,000oz of contained gold.

“It is great to see these significant high-grade intercepts below the existing inferred resource at Roswell,” managing director Nic Earner said.

“These show the potential for an underground mine that continues to extend at depth, with impressive grades continuing.”

Drilling at Roswell is nearing completion and an update resource estimate is expected in the fourth quarter.

Alkane Resources (ASX:ALK) share price chart

Explorer looks to the stars as survey finds more potential gold targets

Renascor Resources (ASX:RNU) has completed an induced polarisation (IP) geophysical survey which confirmed that multiple untested, shallow gold targets are present along strike from its Soyuz prospect in the central Gawler Craton, South Australia.

Previous drilling at Soyuz has intersected shallow gold with a top hit of 7m at 5.14g/t gold from a depth of 26m to the end of hole, including a higher grade zone of 2m at 16.42g/t gold from 30m.

The new anomalies are located in an untested, geochemically anomalous zone about 500m along strike from previous drilling and are coincident with the Soyuz magnetic high while displaying chargeability and resistivity signatures typical of sulphide-bearing mineralisation.

The company is currently seeking approvals to commence drilling at Soyuz within its Carnding project.

This is expected to test the existing gold zone, the IP anomaly and any additional targets that may be identified from the upcoming infill soil sampling and ground geophysical surveys.

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Exploration work penned in for these gold explorers

Meanwhile, Metals Bank (ASX:MBK) is poised to start an IP survey at its 8 Mile gold project in Queensland early next month to help refine a drilling program that is scheduled to start later in September.

The company has also started additional surface evaluation at the Tower Hill and Forty Horse prospects at its Eidsvold project.

Results are pending for infill surface geochemical sampling previously undertaken and an IP survey will begin in mid-September ahead of drilling in October.

Anova Metals (ASX:AWV) will subject its Big Springs gold project in Nevada to a comprehensive program of modern geophysical surveys prior to drill testing to expand its current resources.

Big Springs currently has a resource of 1.03 million ounces of gold grading 2g/t.