Resource Confidence and Expansion at Risk Until Further Drilling Confirms Tomingley Discoveries

Expanding the Depths of Tomingley

Alkane Resources Limited has revealed compelling results from its recent underground drilling campaigns at the Tomingley Gold Operations in Central West New South Wales. The focus has been on the McLeans and Roswell deposits, both integral parts of the mine’s underground infrastructure. These latest drilling efforts have not only bolstered confidence in existing Inferred Resources but have also uncovered a previously unknown mineralised zone, hinting at substantial resource growth potential.

New Mineralisation at McLeans

The McLeans deposit, previously estimated at 0.87 million tonnes grading 2.51 grams per tonne gold, has been the subject of an intensive nine-hole diamond drilling program totaling 3,247 metres. This program successfully identified a second andesite body approximately 150 metres west of the known resource, hosting significant gold mineralisation. Intercepts such as 26 metres at 4.36 g/t gold and 3.3 metres at 22.8 g/t gold underscore the high-grade nature of this new zone. These findings not only expand the known footprint of McLeans but also improve the geological confidence by tightening drill spacing from 80 by 80 metres to 40 by 60 metres.

Roswell’s Western Monzodiorite, High-Grade Confirmation

At Roswell, the Western Monzodiorite domain has been the target of an extensive 89-hole drilling program covering over 18,000 metres. The drilling aimed to infill and upgrade the resource classification from Inferred to Indicated by achieving a denser grid spacing of 15 by 20 metres. The results confirmed multiple wide and high-grade gold intercepts within a 30-metre thick monzodiorite body, including standout intercepts such as 25.6 metres at 1.94 g/t gold and 6.5 metres at 8.03 g/t gold. These results provide a solid foundation for converting mineral resources into mineable ore reserves.

Strategic Implications and Future Exploration

Alkane’s Managing Director Nic Earner highlighted that most deposits at Tomingley remain open at depth and along strike, emphasizing the ongoing potential for resource expansion. The company plans further underground drilling to delineate the newly discovered western andesite at McLeans and to continue exploration at other promising targets such as Wyoming Three and extensions north of Caloma. Additionally, a deep structural target beneath Roswell identified by seismic surveys is slated for testing, underscoring Alkane’s commitment to extending mine life and enhancing resource quality.

Context within Alkane’s Portfolio

Tomingley is one of Alkane’s three producing mines, alongside operations in Victoria and Sweden. Since commencing underground mining in 2018, Tomingley has steadily expanded its resource base through systematic drilling and exploration. The recent results align with the company’s strategy to sustain and grow production through resource conversion and discovery, supported by a strong balance sheet and ongoing regional exploration programs.