PERTH (miningweekly.com) – ASX-listed Alkane Resources is considering the development of an underground operation at its Peak Hill gold mine, some 15 km from its Tomingley gold project, in New South Wales.
The junior company said on Thursday that an inferred mineral resource of 1.02-million tonnes, grading 3.29 g/t gold and 0.15% copper was estimated at Peak Hill, for a resource of some 108 000 oz.
The Peak Hill gold mine was operational as an openpit mine between 1996 and 2005, after which Alkane placed the operation on care and maintenance. The company noted that most of the site rehabilitation was completed away from the existing four openuct pits.
The company told shareholders that the underground re-development of the Peak Hill operation formed part of an extensive regional exploration programme which is looking for additional ore feedstocks for the Tomingley operation.
Core drilling at Peak Hill is now scheduled to start in October to provide the company confirmation of the geology and structure, and to advance metallurgical testing.