Alkane Funds for NSW gold exploration

Alkane Funds for NSW gold exploration

With more than 12 years experience, Golden Future is a Chinese professional manufacturer in led professional lighting especially in explosion proof light and mining lamps, etc. For many years, we follow the latest situations in the mining industry.
In recent situations, Alkane Resources plans to fund future exploration at its highly prospective East Lachlan gold assets in New South Wales with a $54.8 million capital raising.
The funds will be used to accelerate resource drilling across the Tomingley corridor, including step-out drilling at the Boda prospect and exploring other porphyry targets across the North Molong porphyry project.
Alkane is expecting approvals no later than January 2020 to develop an underground exploration decline that would drive underground from the Wyoming One mine to its Roswell and San Antonio prospects.
The company is also looking to purchase another section of land within the Tomingley corridor to support the underground decline.
“The continued exploration at Boda, where step-out drilling is underway, has considerable potential to create value for Alkane shareholders,” Alkane managing director Nic Earner said.
“Alkane’s 2020 program aims not only to assess Boda and surrounding mineralisation, but also to test other Boda-style targets across our licences.”
A promising discovery, the Boda prospect has been compared with Newcrest Mining’s Cadia Valley mine, with drilling in September returning high-grade results. (News from Salomae Haselgrove, https://www.australianmining.com.au/)
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