Alkane Resources Limited announced the latest exploration results for drilling in the region around the Company's Tomingley Gold Operations (Tomingley) in Central New South Wales. The Tomingley Gold Project (TGP) covers an area of approximately 440 km2 stretching 60 km north-south along the Newell Highway from Tomingley in the north, through Peak Hill and almost to Parkes in the south. The TGP contains Alkane's currently operating Tomingley Gold Operations (Tomingley), an open pit mine and underground operation with a 1 Mtpa processing facility.

Over the past four years Alkane has conducted an extensive regional exploration program that led to the definition of Mineral Resources at the Roswell and San Antonio prospects. These are: Roswell Deposit: 14.1Mt @ 2.00g/t Au for 904koz. San Antonio Deposit: 7.3Mt @ 1.72g/t Au for 406koz.

Alkane is developing an exploration drive from the Wyoming One deposit to Roswell, with the drive now approximately 350m north of the Roswell deposit. Alkane has prepared preliminary plans for both open-cut and underground mines beneath Roswell and San Antonio (ASX Announcement 3 June 2021). These plans formed the basis for the application for Project Approval that Alkane lodged with the NSW Government.

The Environmental Impact Statement has been through public display with all submissions now responded to by Alkane with Project Approval expected before year end. Regional exploration drilling has continued whenever possible between extended periods of sustained wet weather in the region. Exploration is expected to return to normal activity in early 2023 focusing on McLeans, Plains, and El Paso prospects that are all located within 7km of the TGO processing facility.

Drilling will also commence from underground on the Roswell north extensions as the exploration drive approaches this area. As part of the recent exploration drilling, assay results were received from 148 air-core (AC) drill holes fora total of 11,406 meters; 13 reverse circulation (RC) drill holes for a total of 3,696 meters; and 8 diamond core (DD) tails using mud-rotary and RC pre-collars were completed for a total of 3,262 meters of core. The exploration undertaken: Targeted the strike of mineralization at the McLeans Prospect positioned between the historic Myalls United underground workings and the Roswell Deposit with 8 AC holes, 2 RC holes and 2 DD holes; Tested the strike, width and depth of mineralization at the Plains Prospect located 1 km southeast of the Roswell Deposit with 97 AC holes, 4 RC holes and 1 DD hole; Targeted extensions to the Roswell and San Antonio Deposits with 2 RC holes and 2 DD holes; Completed remaining sterilization drilling as part of the mine development work for the Tomingley Extension Project totaling 32 AC holes for 2,963 meters; Targeted a Roswell-type andesite in the northern section of the El Paso prospect with 12 AC holes and 3 DD holes; and Completed a 2D seismic survey over the Tomingley region with 45-line km.

McLeans Prospect is positioned 500 meters northeast of the Roswell Deposit and adjacent to the exploration drive from Wyoming One. The prospect area has been historically tested by nominal 100metre spaced AC and RAB drilling traverses, and 17 RC drill holes, with shallow mineralization and alteration evident over a 400-metre strike length masked by approximately 1 to 20 meters of alluvium.