ALKANE Resources says recent drilling results have significantly enhanced the potential for the group to increase the total resource of the Tomingley deposit and, ultimately develop an underground operation at Caloma at Tomingley, New South Wales.
The multi commodity exploration company says a deep core hole drilled into the centre of the Caloma deposit, one of three deposits that make up Tomingley, has intersected economic gold mineralisation 180 metres below current planned pit base.
Following the earlier RC drilling program at Caloma the measured resource has been upgraded by 12% to 2.05 million tonnes grading 2.04 g/t gold.
Tomingley is subject to a definitive feasibility study which is expected to be completed in November 2009 with a formal go-ahead announcement to be made soon thereafter.
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