ALKANE Resources has continued its search for gold in the central west of New South Wales despite the ongoing financial crisis, and has posted outstanding results.
The explorer says its efforts have finally been rewarded with the expansion of the gold system at McPhillamys prospect near Orange.
The site is located within the Moorilda Project, centred about 35km south east of Orange in New South Wales.
According to the company, reverse core (RC) and diamond core drilling have continued to confirm the site hosts a significant low grade gold system.
Recent reports confirm the mineralisation extends over a north south strike of at least 600m, with widths of up to 200m.
Drilling data also suggests there may be surface depletion of the gold with many shallow holes showing irregular and generally lower grades than deeper core and RC holes.
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