Alkane Resources (ASX:ALK) said underground expansion and pre-mine grade control drilling around the existing resources at the Tomingley gold operations, part of the Tomingley project in New South Wales, demonstrated significant resource expansion potential, according to a Monday Australian bourse filing.
At the Caloma One deposit, underground resource expansion drilling consisted of 71 holes for a total depth of 15,264 meters and tested mineralized structures adjacent to the defined resources.
Significant intercepts included 10.8 meters at 4.73 grams-per-tonne grade of gold from 116.8 meters, six meters at 29.92 g/t grade of gold from 84 meters, as well as 4.5 meters at 28.48 g/t grade of gold from 181 meters.
An underground diamond drilling program within the existing indicated and inferred resource areas is also continuing at Roswell. Underground drilling continues at the Caloma Two, Wyoming One, and Roswell deposits.
Its shares fell 4% in recent trading on Monday.
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