Gold: Alkane’s run of luck continues with high-grade hits south of Tomingley
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Alkane Resources (ASX:ALK) has had a great 2020 and it just got even more exciting for shareholders with high-grade gold hits at it’s San Antonio and Roswell prospects.
It’s long-stalled Dubbo speciality metals project looks like it is finally happening with the hiring of ex-Rio Tinto’s (ASX:RIO) executive David Woodall as managing director.
But to top this all off, two other prospects — San Antonio and Roswell — have delivered high-grade gold hits that bode well for Alkane’s planned expansion of its Tomingley gold mine.
Roswell returned results of 49m at 8.71 grams per tonne (g/t) from 218m including 2m at 60.5g/t gold from 243m.
San Antonio’s best result was 15m at 4.33g/t gold from 141m including 3m at 12.4g/t from 144m.
These prospects lie immediately to the south of the Tomingley mine, which is already in production, and 50km southwest of Dubbo.
Alkane is now estimating a resource for San Antonio which will be released within a month.
Shares actually fell 2 per cent this morning, but it was a relatively modest dip compared to the rest of the market. However, they are still up over 30 per cent this year.