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Alkane Resources Ltd.
Summary
| Project: | Tomingley | |
|---|---|---|
| Deposit: | Tomingley | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-10-2018: Alkane Resources Ltd. announces a Resource Estimation report for its Tomingley deposit at the Tomingley project. Annual statement updating mineral resource and reserve at project. The Company reports Ore Reserves and Mineral Resources for the T | |
| Resources: | (Reserve, P+P): 2.206Mt @ 1.8g/t Au for 144Koz Au contained at Tomingley | |
| CP/QP: | [Resources]: Craig Pridmore (Internal) | |
| ABSTRACT: | The Company reports Ore Reserves and Mineral Resources for the Tomingley Gold Operations as at 30 June 2018 in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012). The TGO has been operating since January 2014 and consequently the geology, mineralisation style, metallurgy, recovery, mining parameters and modifying factors have previously been well documented and reported. To ensure the resources have ‘reasonable prospects of eventual economic extraction’ the open pittable resources have been restricted by an indicative optimistic pit shell estimated at a gold price of $2000 per ounce with the potential open pittable component assessed at ≥0.5g/t gold cut off. The underground resource is restricted to material below the current final pit design, below the highest Stope level currently designed, with potential for eventual extraction by underground mining methods assessed at ≥2.5g/t gold These estimates take into account ore depleted by mining during the 2018 financial year and are set out in the tables below. As with the Mineral Resource estimates, the Ore Reserves take into account ore depleted by mining during the 2018 financial year and are set out in the tables below. A block cut-off grade of 0.5g/t Au has been applied to the resource block model in calculating this Ore Reserve. The cut has been selected with consideration to mine ability, and incremental cash operating margins (i.e. processing costs). The cut-off has been calculated based upon, o a $1550 per ounce gold price | |
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