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Alkane Resources Says Drilling Discovers New High-Grade Zone at Victoria Project

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Alkane Resources (ASX:ALK) said drilling discovered a new high-grade zone at the Cuffley lode at the Augusta mine and Costerfield gold-antimony deposit in Victoria, according to a Monday Australian bourse filing.

Around 23 drill holes targeted an unmined area between the historical Cuffley north and south high-grade panels, while 17 additional holes targeted the Sub KC domain at depth.

It encountered intercepts of 580.9 grams per tonne grade of gold and 24% grade of antimony over 0.61 meters, as well as 168.9 g/t grade of gold and nearly 34% antimony over 0.9 meters at Cuffley. It also hit 73.2 g/t grade of gold and almost 19% antimony over 0.19 meters at the Sub KC domain.

Its shares rose 2% in recent trading on Monday.

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