Drilling Demonstrates Tomingley’s Regional Future – Includes High Grade Gold Mineralisation at McLeans Prospect

Alkane is pleased to announce the latest exploration results for drilling in the region around Tomingley Gold Operations (Tomingley) in Central New South Wales

Significant gold mineralisation was identified at several prospects located within seven kilometres of the Tomingley processing facility, including targets within the approved Tomingley project area.

Drilling at the McLeans Prospect, located between the Roswell Deposit and the Tomingley site, tested the strike of the andesite host and infilled previously intersected mineralisation. Significant gold intercepts include:

Drilling at McLeans has defined mineralisation over 200 metres strike and 500 metres down dip that remains open. A maiden underground Inferred Mineral Resource estimation for McLeans is expected this calendar year.

Drilling at El Paso, located 1km south of the San Antonio deposit, focused on a mineralised Roswell-type andesite of approximate dimensions of 250 metres in length and 50 metres in width. Significant gold intercepts include:

Plains Prospect is located 1km southeast of the Roswell Deposit and within the approved Tomingley project area, is a 500 metres by 200 metres zone of gold mineralisation beneath a shallow cover of 15 metres. Recent air-core and RC drilling continues to define this mineralisation with significant gold results of:

Allendale Prospect is a gold-copper porphyry target within the buried Narromine Igneous Complex west of the Parkes Thrust located approximately 5km northwest of Tomingley. Historical drilling comprised limited air-core drilling with three diamond core tails. Assay results were recently received from 95 air-core holes along seven traverses, spaced nominally 1km apart. Significant gold and/or copper results include:

High-resolution airborne magnetic and gravity surveys for the greater Tomingley Gold Project area are planned later in 2023. Targets resulting from these geophysical surveys will be tested, in addition to follow-up drilling of announced mineralisation, which is planned for early 2024.

Alkane Managing Director, Nic Earner, said: “We continue to explore at Tomingley both within our approved mining areas and regionally. With current plans already extending to 2032, we are seeking to add further mine life, scale, and grade to Tomingley. It is pleasing to see the various exploration targets around Tomingley yielding results and we look forward to adding the McLeans deposit to our resource base before the end of the calendar year.”