Ann: Approval Received for Underground Exploration Drive, page-2

Approval Received for Underground Exploration Drive

The NSW Government Resources Regulator has granted approval for Alkane Resources Limited (ASX: ALK) to develop an exploration drive from its existing Wyoming One underground operations, to the Roswell and San Antonio deposits, approximately four kilometres to the south of the mine.

This is an important milestone towards a future potential underground mine at Roswell and San Antonio that could be developed independently of an open cut operation. The exploration drive will be sized such that it could also accommodate production in the future. Managing Director, Nic Earner, said: “Alkane has the equipment purchased, personnel recruited and land acquired to allow this development to proceed and we will now incorporate the timing of the drive development into the Tomingley Gold Operations’ budget schedules, as well as our regional exploration plans.”

“Given the prospectivity of the region around our existing operations, this approval provides Alkane with all the exploration and, in time, production options, to extend the life of mine at Tomingley well into the future.”