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Alkane Resources Ltd.
Summary
| Project: | Tomingley | |
|---|---|---|
| Deposit: | Peak Hill Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 18-10-2018: Alkane Resources Ltd. announces a Resource Estimation report for its Peak Hill Mine deposit at the Tomingley project. Updated mineral resource estimate at Peak Hill Mine. The Peak Hill Gold Mine (PHGM) is located about 60km southwest of Dubbo | |
| Resources: | (Resource, Inf.): 1.02Mt @ 3.29g/t Au, 0.15% Cu for 108Koz Au contained | |
| CP/QP: | [Resources]: Craig Pridmore (Internal) | |
| ABSTRACT: | The Peak Hill Gold Mine (PHGM) is located about 60km southwest of Dubbo in the Central West of NSW, and 15km south of Alkane’s operating Tomingley gold mine (TGO). PHGM was a fully operational open pit gold mine operated by Alkane that is currently under care are and maintenance with most site rehabilitation completed away from the existing open cuts. There are four pits, the main ProprietaryParkers Pit and three satellite pits, Bobby Burns, Crown and Great Eastern. The PHGM has a rich history with alluvial gold mining commenced in 1889 and lode mining by various methods through to 1916. Approximately 61,900 ounces is reported to have been recovered from processing of 475,000 tonnes of ore. The historic mining was a combination of underground and glory hole operations. More recent open cut mining by Alkane commenced in 1996 and was completed in 2002. The gold within the oxidised material was recovered by heap leach and dump leach methods. 154,000 ounces of gold was recovered from 4.7 million tonnes of ore through to 2005. Mining at Proprietary open pit extended to approximately 100m vertical depth, whilst the other pits were generally less than 50m deep. During the operation a number of core holes were drilled to test the underlying sulphide mineralisation and provide sample for metallurgical testing. The drilling focused on the Proprietary, the largest of the known deposits. The Peak Hill deposit is interpreted as a high sulphidation epithermal system probably related to a deeper porphyry magmatic source. This style of deposit is well documented globally, although usually preserved in younger geological terrains other than the older Ordovician volcano-magmatic provinces in NSW. The deposit is hosted by strongly deformed and hydrothermally altered Ordovician aged volcanoclastic rocks which are predominantly andesitic volcanoclastic breccias, lesser sandstone/siltstone units, minor lava and black mudstones, similar to the sequence at Tomingley. | |
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