17 November 2017
FURTHER SIGNIFICANT DRILL INTERCEPTS AT DEPTH AT TGO TOMINGLEY GOLD OPERATIONS (TGO) - ALK 100% SummaryAdditional drilling of the Wyoming One deposit has proved continuity and extension to the mineralisation below the existing open cut operation.
15 diamond core drill holes have been completed totalling 6,993 metres of a 23 hole program designed to confirm continuity within the ore zones previously identified, adding to the drilling completed late 2016.
The drilling specifically targeted the Hangingwall Zone and Porphyry Zone to 300 metres below the planned base of the open cut.
Results include:
WY954D 16.7m @ 2.52g/t Au from 178.3 metres incl 4.0m @ 3.78g/t Au from 181 metres
and 4.0m @ 4.00g/t Au from 189 metres
and 47.15m @ 3.12g/t Au from 249 metres
incl 15.0m @ 5.71g/t Au from 253 metres
and 0.8m @ 26.7g/t Au from 278.4 metres
WY955D 12.0m @ 3.69g/t Au from 189 metres incl 5.3m @ 5.63g/t Au from 192.7 metres
and 4.6m @ 3.51g/t Au from 206.2 metres
and 44.0m @ 2.19g/t Au from 306 metres
incl 18.25m @ 3.56g/t Au from 312 metres
WY957D 12.4m @ 3.40g/t Au from 378.6 metres incl 7.25m @ 5.01g/t Au from 379.75 metres
and 8.45m @ 4.36g/t Au from 394.55 metres
incl 3.3m @ 8.35g/t Au from 395.9 metres
and 2.25m @ 16.4g/t Au from 476.75 metres
CONTACT : NIC EARNER, MANAGING DIRECTOR, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS : NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556
MEDIA : HILL KNOWLTON STRATEGIES, CONTACT: IAN WESTBROOK, TEL +61 2 9286 1225 OR +61 407 958 137
Ground Floor, 89 Burswood Road, Burswood WA 6100, AUSTRALIA (PO Box 4384, Victoria Park WA 6979, AUSTRALIA) Telephone: +61 8 9227 5677 Facsimile: +61 8 9227 8178www.alkane.com.au mail@alkane.com.au
Underground Mining Study
Investigations into the viability of developing an underground mining operation at the Tomingley Gold Operations (TGO), continued with a program of 23 core holes currently being drilled testing the Hangingwall Zone and Porphyry zones below the Wyoming One open pit. This program is a follow up to the drilling completed late 2016 (ASX announcement 19 January 2017) and results received to date are from 15 holes totalling 6,993 metres. The drilling is designed to extend known mineralisation at depth and improve continuity within the ore zones previously identified.
At Wyoming One, a porphyritic andesite forms the core of a narrow anticline structure with strong mineralisation developed near the nose and eastern contact of the andesite porphyry and with a separate linear lithology controlled hangingwall zone located immediately to the east in carbonaceous and volcaniclastic sediments. 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 dipping orientation. Other structurally cross cutting zones exist within the porphyry, and while of limited strike length, these are often very high grade. Ore zones tend to average around 5 metres in true width, but can range from 1 metre to 20 metres wide. The historic underground mine of Myalls United is located about 800 metres to the south in a similar lithological position. Much of this target zone remains untested.
As a result of earlier drilling, resource blocks had been previously assigned according to geological boundaries and grade. Within the broad mineralised envelope, high grade blocks of >2.5g/t gold were identified which could support an underground mining operation. Previously defined sub‐pit Ore Reserves and Mineral Resources at Wyoming One were based upon a feasibility study reported in ASX announcements 9 December 2015 and 22 September 2016. These current results have 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 data will be incorporated into the resource model to form a basis for the underground mining study to be completed later this year.
Highway
614000mE 615000mE
W y o m i n g T h r e e
W Y9 42D
W Y9 43 D
C a l o m a
614500 m E
W Y9 44 D
WY 97 0 D
W Y 964D
WY 965 D
W y o m i n g On e
Wyoming Two
W Y 950 D
WY958D
W Y 957 D
6394000mN
W Y 954 D
W Y 955 D
W Y 959 D
W Y 95 6 D
W Y 960 D
W Y 952 D
W Y 953 D
W Y 951 D
W y o m i n g O n e
C a l o m a T w o
W Y 949 D
WY947D
WY946D
W Y 966 D
W Y 961 D
W Y 963 D
W Y 962 D
W Y948D
6393500m N
EL 5 6 7 5 E L 5 8 3 0
Newell
639300 0m N Wyoming
One South
Alluvium
Siltstone (Cotton Formation)
Mingelo Volcanics
Plagioclase porphyritic andesitic sills Undiff volcaniclastic seds
Black graphitic mudstones Volcaniclastic conglomerate
0
Myalls
50 0m
ML1684
M L 1 6 8 4
W Y 966 D A
Section 55 °
WY945D
W Y 967 D
W Y 969 D
Cotton Formation siltstone
Feldspar porphyry Volcaniclastic sandstones,
siltstones & minor conglomerates
Andesite
Chlorite-talc schist Mineralisation Fault, inferred
Geological boundary, inferred
E L 5 6 7 5
W Y 968 D
0
W Y O M I N G O N E
200
Basaltic lava Chlorite-talc schist
Mineralisation
United
Mine
Tom i n g l e y Go l d O p e r a t i o n s
G e ology
an d Lo ca t i o n
W Y 955 D
2017 DDH - Wyoming One
W Y 950D
2016 DDH - Wyoming One
201 7 Co r e D r il lin g
South West
Rotated section 55° with 20m window
200m RL
WY1 pit design
WY952D
WY951D
WY953D
WY954D
WY955D
614200mE 6393550mN614300mE
North East
100m RL
7.6 m @ 4.35 g/ t Au fro m 17 0.4m
16 .7 m @ 2.52 g/ t Au from 178.3m in cl 4m @ 3.78 Au fro m 181m and 4m @ 4.0g/ t Au fro m 189 m
154.1 m
12 m @ 3.69 g/ t Au fro m 18 9 m incl 5.3 m @ 5.6 3 Au fro m 192.7 m
47 .15 m @ 3.1 2 g/ t Au fro m 24 9 m incl 15 m @ 5.71g/ t from 253m
2m @ 3 .09g/ t Au fro m 270 .9 m
0m RL
44 m @ 2.19 g / t Au fro m 306m in c l 18 .2 5 m @ 3.56 g/ t fro m 31 2m
WY 9 49 D
301.95m
275.5m
243.46m
353.6m
320.4m
WY 9 43 D
510m
469.1m
WY960D
396.07 m
4.6m @ 3.51 Au fro m 206.2 m
WY965D
333.28 m
6.3 m @ 3.03 g / t Au fro m 408 .3 m
-100m RL
551.12 m
W Y 942D
483.68m
3.9 m @ 2.74 g/ t Au fro m 473 .1 m
593.71 m
2.25 m @ 2 .94g/ t Au fro m 507m
-200m RL
636.75m
6.2 m @ 2.34 g/ t Au fro m 59 0.2 m
Alluvium
Siltstone (Cotton Formation)
Mingelo Volcanics
Plagioclase porphyritic andesitic sills Undiff volcaniclastic seds Black graphitic mudstones Volcaniclastic conglomerate Basaltic lava
Chlorite-talc schist
Mineralisation
Assay intercepts > 0.25 g/t Au
2017 Core drill trace with selected highlights
2016 Core drill trace
NB: Pre 2016 drilling not shown
0 1 00 m
W Y O M I N G ONE
R otated Section
W Y 953D to W Y 9 5 5 D
(20 m w indow )
6393400mN 6393600mN
Pit
Base of alluvium
(approx)
200m RL
100m RL
WY948D
2 @ 0.2g/t
WY951D
17.75 @ 2.01g/t
WY949D
3.3 @ 3.86g/t
WY951D
3 @ 4.89g/t
WY949D
4 @ 3.37g/t
WY953D
7.6 @ 4.35g/t
WY954D
16.7 @ 2.52g/t
WY955D
WY950D
11 @ 4.21g/t
WY947D
incl 3 @ 6.69g/t
WY952D
12 @ 3.69g/t
6 @ 2.93g/t
WY949D
5.8 @ 4.23g/t
WY954D
WY948D
7.2 @ 3.17g/t
1 @ 21.8g/t 47.15 @ 3.12g/t
incl 15 @ 5.71g/t
WY949D
WY948D
3.75 @ 3.48g/t
4 @ 2.43g/t
WY953D
WY950D
19.7 @ 5.36g/t
0m RL
WY966AD
WY946D
3.2 @ 3.82g/t
2 @ 3.60g/t WY950D
3.7 @ 5.61g/t
WY957AD
2.35 @ 1.27g/t WY952D
12.4 @ 3.4g/t
WY967D
WY945D
20 @ 4.19g/t
1.15 @ 3.93g/t
WY955D
44 @ 2.19g/t
incl 7.25 @5.01g/t
WY943D
16.4 @ 2.64g/t
incl 3 @ 10.6
2 @ 2.01g/t
WY962D
6.72 @ 2.52g/t
WY963
18.25 @ 3.56g/t
WY956D
4 @ 5.13g/t
WY944D
2 @ 3.29g/t
-100m RL
WY968D
pending
WY945D
2 @ 1.35g/t
pending
WY962D
2.08 @ 7.04g/t
WY961D
WY959D
1.1 @ 7.59g/t
WY957D
WY942D
1.7 @ 1.53g/t
WY964D
5.7 @ 3.65g/t
pending
WY969D
pending
Hangingwall selected pierce points
2017 core drilling with intercepts
2016 core drilling with intercepts
Pre 2016 drilling
Hangingwall target zone
WY956D
5.1 @ 1.45g/t
WY958D
1.5 @ 10.43g/t
3 @ 2.9g/t
WY960D
1.23 @ 13.9g/t
WY956D
6.2 @ 2.34g/t
-200m RL
Porphyry selected pierce points
2017 /core drilling with intercepts 2016 core drilling with intercepts Pre 2016 drilling
Porphyry ore zone
WY959D
10.1 @ 2.55g/t
0 1 00 m
W Y O M I N G O N E
Han gin gw all an d P o rp h yry
D i agr a m m a t i c L ong Se ct i o n
Competent Person
Unless otherwise advised above, the information in this report that relates to exploration results, mineral resources and ore reserves is based on information compiled by Mr C Pridmore MAusIMM (Geology Superintendent TGO) and Mr D I Chalmers, FAusIMM, FAIG, (director of the Company) who each have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Pridmore and Mr Chalmers consent to the inclusion in this report of the matters based on his information in the form and context in which it appears
Disclaimer
This report contains certain forward looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Alkane Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Alkane Resources Ltd. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.
This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists.
ABOUT ALKANE ‐ www.alkane.com.au‐ASX: ALK and OTCQX: ANLKY
Alkane is a multi‐commodity company focused in the Central West region of NSW, Australia. Currently Alkane has two advanced projects ‐ the Tomingley Gold Operations (TGO) and the nearby Dubbo Project (DP). Tomingley commenced production early 2014. Cash flow from the TGO has provided the funding to maintain the project development pipeline and will assist with the pre‐ construction development of the DP.
The NSW Planning Assessment Commission granted development approval for the DP on 28 May 2015 and on 24 August 2015 the Company received notification that the federal Department of the Environment gave its approval for the development. Mining Lease 1724 was granted on 18 December 2015 and the Environment Protection Licence was approved on 14 March 2016. Financing for this project is in progress and when completed should make Alkane a strategic and significant world producer of zirconium, hafnium and rare earth products with production targeted for 2019‐20.
Alkane's most advanced gold copper exploration projects are at the 100% Alkane owned Bodangora, Wellington and Elsienora prospects. Wellington has a small copper‐gold deposit which can be expanded, while at Bodangora a large monzonite intrusive complex has been identified with porphyry style gold copper mineralisation. Gold and base metal mineralisation has been identified at Elsienora.
Alkane Resources Limited published this content on 17 November 2017 and is solely responsible for the information contained herein.
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