McLeans west andesite

Tomingley Drilling Discovers New Mineralisation at McLeans

Alkane is pleased to announce the latest results for underground expansion and pre-mine grade control drilling around the existing resources at the Company’s Tomingley Gold Operations (‘Tomingley’) in Central New South Wales.

Underground core drilling at Tomingley is focused on defining extensions to resources as well as improving confidence of Inferred Resources at McLeans and the Western Monzodiorite domain at Roswell. Both McLeans and the Western Monzodiorite are immediately adjacent to existing underground infrastructure.

Underground drilling comprising 9 diamond holes for a total of 3,247 metres was completed to improve the confidence of the Inferred Resource at McLeans. This drilling discovered a second andesite with significant gold mineralisation, located approximately 150m to the west of the current resource. Significant gold intercepts hosted by the western andesite include:

MCLUG013D26 metres grading 4.36 g/t Au from 112 metres
incl3.3 metres grading 22.8 g/t Au from 112.7 metres
MCLUG012D10.7 metres grading 2.09 g/t Au from 105 metres
MCLUG011D8 metres grading 2.33 g/t Au from 113 metres
incl0.8 metres grading 14.4 g/t Au from 118 metres
MCLUG007D5.2 metres grading 1.62 g/t Au from 99.9 metres
and6.1 metres grading 2.65 g/t Au from 113 metres
MCLUG006D7.8 metres grading 3.46 g/t Au from 120 metres
incl1.0 metres grading 10.1 g/t Au from 126 metres

Significant drilling intercepts within the McLeans Inferred Resource hosted by the eastern andesite comprise:

MCLUG012D10 metres grading 1.31 g/t Au from 284 metres
and3.7 metres grading 1.66 g/t Au from 314.1 metres
MCLUG010D0.5 metres grading 38.9 g/t Au from 332.5 metres
MCLUG007D8 metres grading 2.67 g/t Au from 293.2 metres
incl3.1 metres grading 4.52 g/t Au from 298.1 metres
and8 metres grading 4.38 g/t Au from 320 metres
incl2 metres grading 12.6 g/t Au from 320 metres
MCLUG005D10 metres grading 1.54 g/t Au from 276 metres

An intensive underground diamond core drilling program within and extensions to the current Inferred Resource hosted by the Western Monzodiorite domain at Roswell is in progress. Results have been received from 89 holes totalling 18,064 metres that were focussed within the mid-portion of the monzodiorite domain infilling existing drilling to a nominal 15m x 20m grid spacing for the purpose of converting to an Indicated Resource. The drilling confirmed multiple wide, high-grade gold intercepts within the 30m thick monzodiorite. Best intercepts include:

ROSGT001D9.3 metres grading 3.88 g/t Au from 157.9 metres
incl1.1 metres grading 10.5 g/t Au from 157.9 metres
and1.8 metres grading 2.05 g/t Au from 177.2 metres
ROSUG050D25.6 metres grading 1.94 g/t Au from 276.1 metres
ROSUG426D24.2 metres grading 2.65 g/t Au from 115.3 metres
ROSUG430D12.1 metres grading 5.44 g/t Au from 115.3 metres
ROSUG440D6.5 metres grading 8.03 g/t Au from 166.5 metres
incl0.9 metres grading 37.3 g/t Au from 171.6 metres
ROSUG442 3.9 metres grading 12.2 g/t Au from 160.1 metres
incl1.2 metres grading 25.4 g/t Au from 162 metres
ROSUG458D16 metres grading 1.67 g/t Au from 276.4 metres
and5 metres grading 1.59 g/t Au from 304 metres
and5 metres grading 3.19 g/t Au from 316 metres
and5.1 metres grading 2.82 g/t Au from 328 metres
ROSUG564D14 metres grading 2.19 g/t Au from 119 metres
and2.8 metres grading 3.94 g/t Au from 140.2 metres
ROSUG572D12.4 metres grading 3.00 g/t Au from 109 metres
incl0.7 metres grading 30.6 g/t Au from 115.6 metres
ROSUG584D3.2 metres grading 2.04 g/t Au from 128 metres
and7.9 metres grading 14.6 g/t Au from 154 metres
incl1.1 metres grading 84.4 g/t Au from 154 metres
ROSUG595D3.2 metres grading 1.99 g/t Au from 158.8 metres
and2 metres grading 2.02 g/t Au from 165 metres
and9.5 metres grading 4.73 g/t Au from 170 metres

Additional exploration drilling is planned to test the underground potential at Wyoming Three, extensions to mineralisation north of Caloma and a deep structural target (thrust splay identified by 2D seismic) beneath Roswell. Underground exploration drilling continues at Roswell.

Alkane Managing Director Nic Earner said: “Most of Tomingley’s deposits are open at depth and along strike. This drilling further demonstrates not only the significant resource expansion potential across the mine site but the potential to discover other deposits.

“Our underground and surface drill programs throughout Tomingley continue. We look forward to continuing to add further resources and mine life.”