- The Peak Hill Gold Mine (PHGM) is located 15km south of Alkane’s operating Tomingley gold mine (TGO) in the Central West of NSW and was operated by Alkane from 1996 to 2005.
- At the Proprietary ore body an Inferred Mineral Resource using a 2.00g/t gold cut-off was defined in the sulphide zone: 1.02 million tonnes grading
- 3.29g/t gold and 0.15% copper (108,000oz)
- This re-evaluation of the potential for Peak Hill to be developed underground forms part of the extensive regional exploration program is in progress to provide additional ore feed for TGO.
- The PHGM was operated using open pit mining and 153,000 ounces of gold were recovered by heap leach and dump leach of the oxidised ore.
- Core drilling is scheduled to commence in October to provide confirmation of the geology and structures, and fresh material for advanced metallurgical testing.
- Scope exists to expand the Resource at depth and in satellite deposits within an extensive alteration zone.