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Alkane Resources to keep up the pace after revising Boda MRE

December 14, 2023 at 05:09 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

--News Direct--

Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) Managing Director Nic Earner speaks to Thomas Warner from Proactive after the gold producer and explorer announced a revised indicated and inferred mineral resource estimate (MRE) for the Boda Deposit at its Northern Molong Porphyry Project (NMPP) in Central West New South Wales.

A revised indicated and inferred mineral resource estimate (MRE) for the Boda Deposit including Boda 2-3 now stands at 583 million tonnes at 0.58 g/t gold-equivalent (0.34 g/t gold and 0.18% copper) for 10.9 million gold equivalent ounces. This includes 6.38 million ounces of gold and 1.03 million tonnes of copper.

Earner highlights the key change from the original Boda resource: despite a slight reduction in tonnage, the metal grade has notably increased. He suggests that the shift is particularly beneficial as it implies mining lower tonnes for more metal, thereby increasing the potential profit margin.

Furthermore, Alkane is preparing to release updated Kaiser RC drilling results, potentially before Christmas, followed by a resource update in early 2023. He goes on to say that the company is also advancing scoping studies, including metallurgical results and engineering work, which will culminate in detailed mine plans for Boda and Kaiser.

Alongside these developments, Alkane's Tomingley Goldmine continues to perform strongly, aligning with the company's guidance and contributing to a successful 2023. Work on project delivery are expected to extend the mine's life until 2032, staying within budget and schedule.