Alkane Resources Limited has discovered a new high-grade gold-antimony zone at the Cuffley Lode within its Costerfield operation in central Victoria, Australia, returning an intercept of 580.9 g/t gold and 24% antimony over 0.61 metres in hole AD270.

The discovery followed a 23-hole diamond drilling program totaling 3,255 metres in an unmined area between the historical Cuffley north and south high-grade panels. The new grade pod was identified in a sparsely drilled zone previously thought to contain lower grades due to a crosscutting fault.

Additional standout assays from the Cuffley infill drilling included hole AD265, which intersected 168.9 g/t gold and 33.5% antimony over 0.9 metres, and hole AD292, returning 60.1 g/t gold and 15.2% antimony over 1.26 metres. Alkane also completed 17 holes targeting the Sub-KC domain at depth below the deposit, where intercepts included hole CSK044 returning 28.2 g/t gold over 0.99 metres and hole CSK043 hitting 73.2 g/t gold and 18.8% antimony over 0.19 metres.

The newly identified Cuffley grade pod is readily accessible from existing infrastructure and is being incorporated into the active mine schedule.

Alkane's exploration strategy across the Costerfield property focuses on challenging old geological models to extract value from unmined zones. Underground extraction at the operation has progressed north since 2006, moving from the initial Augusta series to Cuffley, N Lode, Brunswick, and the Youle and Shepherd lodes.

“This discovery of unmined high-grade material directly adjacent one of Costerfield's top-shelf historical orebodies showcases the importance of Alkane's directive of revisiting and challenging old models and preconceptions surrounding mineralisation to extract value. We will continue seeking this new mineralisation alongside generating new targets within our leases.”

— Nic Earner, Managing Director & CEO

In the surrounding district, Alkane mobilized a second diamond drill rig to target the antimony-gold discovery at the Nagambie Mine, targeting an inferred resource of 539,000 tonnes at 3.9% antimony and 3.3 g/t gold. Alkane anticipates further exploration updates and reserve and resource disclosures for the Costerfield project over the coming months.

Read the full announcement: New High-Grade Domain Discovered at Cuffley