Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Alkane Resources Finds More Gold At Tomingley, NSW 0 comments
    Nov 25, 2012 6:58 PM

    Multi commodity miner and explorer, Alkane Resources (ASX: ALK), has found more gold at its Tomingley Gold Project, 50 km south west of Dubbo in central west NSW.

    Results from recent drilling returned a range of strong intercepts from 1.89 g/t gold to 12.05 g/t gold over depths ranging from 30 metres to 204 metres.

    Tomingley involves three separate gold areas and this recent drilling has been on the Caloma Two deposit which is adjacent to the planned Caloma open pit.

    An RC drilling program commenced in October to define resources within the Caloma Two deposit which is located immediately to the south of the planned Caloma open pit.

    The drilling gives detail on a strike which is 100 metres wide and 300 metres long.

    With a feasibility study showing annual gold production of 50,000 to 60,000 ounces of gold a year, over a minimum mine life of 7 years

    Tomingley will commence construction when a mining lease is issued, with development approval from the NSW government given in July 2012.

    Further drilling will supplement today's results and will enable a final resource estimation for incorporation into the development schedule.

    Some of the best results in detail included:

    - PE 771 18 metres grading 3.18g/t gold from 45 metres, including 9 metres grading 5.52g/t gold from 57 metres
    - PE 774 21 metres grading 3.77g/t gold from 120 metres
    - PE 776 9 metres grading 3.86g/t gold from 51 metres

    Further RC and core drilling is scheduled to enable resource definition and incorporation into the development plan for the TGP.

    Notably, the Project received development approval from the NSW Department of Planning and Infrastructure in July 2012 and commencement of construction is awaiting approval of the Mining Lease by the NSW Division of Resources and Energy.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.