Overview of Alkane Resources Ltd's updated Kaiser Mineral Resource Estimate

Alkane Resources Ltd (ASX: $ALK) has announced the revision of the Kaiser Deposit's Mineral Resource Estimate (MRE) following an extensive infill drilling program at the Northern Molong Porphyry Project in central New South Wales. The revised estimate indicates 213 Mt at 0.55g/t AuEq for 3.74Moz AuEq, with 89% of the resource now classified as Indicated. The drilling has significantly improved confidence, resulting in a 15% increase in gold grade and a 10% increase in copper grade. The Boda District now has a global resource of 796Mt at 0.58g/t AuEq for 14.7Moz AuEq, with substantial metallurgical testwork establishing viable flowsheets and recoveries. Alkane is finalizing a scoping study for potential development, expected to be released in Q2 CY2024, and continues drilling to define the overall system and test extensions at depth and across regional targets.

Managing Director Nic Earner's perspective on the Kaiser resource update

The Kaiser resource update gives even greater confidence in the significant potential of the Northern Molong Porphyry Project. The increase in Indicated resources, along with higher gold and copper grades, underscores the project's value. The updated resource, achieved at an overall discovery cost of less than A$4 per equivalent ounce, compares favorably to industry averages and reflects the hard work of the exploration team. We are finalizing the scoping study outlining the economics of the Boda & Kaiser District, with potential mine plans currently being developed from the updated resources. We're on track to have that completed in the current quarter.

Outlook for Alkane Resources Ltd following the Kaiser resource update

The revised Kaiser Mineral Resource Estimate demonstrates increased confidence and improved grades, positioning Alkane Resources for potential development at the Northern Molong Porphyry Project. With a substantial global resource and viable metallurgical flowsheets, the company is progressing towards finalizing a scoping study for potential development, expected to be released in Q2 CY2024. Ongoing drilling activities aim to define the overall system and test extensions at depth and across regional targets, indicating a strong focus on further exploration and potential resource expansion. Alkane's ambitions to become one of Australia's multi-mine gold and copper producers are supported by the significant potential of the Northern Molong Porphyry Project and the company's enviable exploration track record.