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Alkane Resources Ltd.
Summary
| Project: | Tomingley | |
|---|---|---|
| Deposit: | Tomingley | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-6-2018: Alkane Resources Ltd. announces a Resource Estimation report for its Tomingley deposit at the Tomingley project. Updated mineral resources and Ore reserve estimate at Tomingley underground. The TGO is based on four gold deposits (Wyoming One, Wy | |
| Resources: | (Reserve, P+P): 732Kt @ 3.1g/t Au for 74Koz Au contained at Tomingley underground | |
| CP/QP: | [Resources]: Craig Pridmore (Internal) | |
| ABSTRACT: | The TGO is based on four gold deposits (Wyoming One, Wyoming Three, Caloma and Caloma Two) located about 14 kilometres north of the Company’s inactive Peak Hill Gold Mine, and approximately 50 kilometressouthwest of Dubbo. The deposits are orogenic /structural quartz vein and stockwork hosted mineralisation within Ordovician aged andesite “porphyry” and associated volcaniclastic sediments. Open pit development has proceeded since 2013 on all four deposits. Open cut mining is completed at the Wyoming Three and Caloma pits and is in the final stages for the Wyoming One and Caloma Two pits. Grade / Tonnage reconciliation has been positive throughout (included Measured, Indicated and Inferred Resources) and confirmed the high degree of geological knowledge applied to the deposits. As at 30 April 2018 4,584,000 tonnes grading 2.16g/t Au have been mined from the open cuts and processed, resulting in 292,900 ounces of gold poured. Stockpiles at the end of April were 1,117,000t @ 0.91g/t Au for 32,800 contained ounces(of which low grade constituted 743,000t @ 0.69g/t Au for 16,500 contained ounces). Porphyry zones below the Wyoming One open pit. This program added to the drilling completed in late 2016. The drilling confirmed continuity of the gold mineralisation in the Hangingwall and Porphyry zones, and demonstrated continuity of the systems to ‐200m RL, 300 metres below the planned base of the open pit. The Hangingwall‐Porphyry contact mineralisation has a strike length of over 300 metres and is open to the south. Most of the mineralisation has a near vertical or steep east dip and averages around 6 metres in true width, but can range from 1 metre to 20 metres wide. Other structurally cross cutting zones exist within the porphyry, and while of limited strike length, these are often very high grade within broad low grade envelopes. These targets are not included in the current development model are intended to be evaluated by drilling from underground positions | |
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