The Chinese translation is being made; the original is shown for now.
Alkane is pleased to announce the initial exploration results from an earn-in period in which Alkane has agreed to initially spend a total of $12.5M on exploration and evaluation activities to earn a 60% interest in the Nagambie property over three years, with the right to move to 80% with further expenditure.¹
Program Summary
- Drilling commenced at Nagambie in June 2026 targeting the north-south trending “C” vein orientation, which is interpreted to contain gold-antimony mineralisation. Three holes (1,868m) have been drilled, logged and sampled at the time of this announcement.
- Initial assays received to date for the first of three new Alkane holes confirm the highly mineralised nature and continuity of the epizonal Au-Sb system.
- Standout grades have been encountered in the C3 and C2 veins that support previous drilling results that informed the initial Mineral Resource² estimated by Nagambie Resources in 2024. Additionally, the C2 zone has been intercepted a further 115m below the previously known extent, highlighting the open nature of the resource.
- Further to the concentrated high-grade mineralisation intercepted (Costerfield analogue), the drilling has also intercepted wide mineralised zones of up to 32m in estimated true width (ETW), containing significant amounts of both gold and antimony.
Assay Highlights
- From C3 Zone
- 3.3g/t gold and 0.7% antimony over 10.6m (ETW 10.4m) in ADD001 from 156.3m
- Including 17.0g/t gold and 5.9% antimony over 1.3m (ETW 1.2m)
- 3.3g/t gold and 0.7% antimony over 10.6m (ETW 10.4m) in ADD001 from 156.3m
- From C2W Zone
- 1.2g/t gold and 2.5% antimony over 9.7m (ETW 4.9m) in ADD001 from 306.3m
- Including 4.6g/t gold and 20.6% antimony over 0.4m (ETW 0.2m)
- Including 3.6g/t gold and 9% antimony over 1.7m (ETW 0.8m)
- 2.1g/t gold and 0.5% antimony over 10m (ETW 6.4m) in ADD006 from 221.7m
- Including 3.7g/t gold and 0.8% antimony over 1m (ETW 0.6m)
- Including 12.6g/t gold and 0.1% antimony over 0.4m (ETW 0.2m)
- Including 2.8g/t gold and 2.0% antimony over 2.3m (ETW 1.5m)
- 0.6g/t gold and 0.8% antimony over 22.6m (ETW 20.7m) in ADD013 from 592.59m
- Including 2.1g/t gold and 17.3% antimony over 0.4m (ETW 0.3m)
- Including 1.4g/t gold and 7.3% antimony over 0.8m (ETW 0.7m)
- 1.2g/t gold and 2.5% antimony over 9.7m (ETW 4.9m) in ADD001 from 306.3m
Alkane Managing Director & CEO, Nic Earner, said: “Nagambie is shaping up as analogous to the gold-antimony system at Costerfield. We are encouraged by the initial results, which form part of our broader strategy to expand the potential ore sources and extend the mine life at our 100% owned Costerfield project. There is still further work to do within this 12-month option period of the earn-in agreement with Nagambie Resources; however, there is extensive exploration potential at Nagambie. We look forward to progressing this asset and strengthening critical mineral development within Victoria.”
- Alkane Resources Ltd (ASX: ALK), Proposed Investment and Earn-In with Nagambie Resources, 30 January 2026.
- Nagambie Resources Limited (ASX:NAG) Replacement Announcement: Gold-Antimony JORC Resource Updated 322,000 Oz Gold Equivalent (AuEq) at 18.6 g/t AuEq. ASX Release Date: 15 November 2024.
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