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Gold explorer Alkane Resources has released its mineral resources and ore reserves statement for the 2023 financial year (FY23).

The statement covered all of Alkane’s projects, most notably the Tomingley gold operation in New South Wales, which consists of the Roswell, San Antonio and McLeans deposits.

The Tomingley project’s total mineral resources now equal to 27.26 megatons (Mt) grading 2.02 grams per tonne of gold (g/t Au) at 1,775,000 ounces (oz), and its total ore reserves equal to 10.96 Mt grading 1.77g/t Au at 622,000oz.

Its total mineral resources and ore reserves were re-estimated to account for additional resources, mining depletion, changes in gold price and operating costs.

In the same statement, Alkane confirmed that the NSW Department of Planning and Environment has approved the mining lease for open cut and underground mining development for the Roswell and San Antonio deposits.

It also provided the latest information on its Northern Molong Porphyry project (NMPP) which includes the Boda-Kaiser deposit.

“The extensive drilling program continued at the gold-copper porphyry Boda and Kaiser prospects within the larger NMPP located 90km east of Tomingley,” Alkane said.

“The drilling enabled an initial inferred resource to be estimated for the Kaiser deposit in February 2023… Drilling continued at Boda and Kaiser to refine indicated resources within both deposits and expand Boda to include the Boda 2–3 mineralisation to the south.

“Detailed metallurgical work is in progress, and preliminary mining concepts with infrastructure planning is also progressing.”

In July, gold mineralisation was discovered at several prospects at the Tomingley project.