Alkane Drilling Confirms Gold-Antimony System at Nagambie, Victoria
Alkane Resources reports first Nagambie drilling results in Victoria, with high gold and antimony grades in the C2 and C3 veins.
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what happened
Australia's Alkane Resources (ASX: ALK; TSX: ALK) has reported initial exploration results from its Nagambie property in Victoria. Under an earn-in deal, the company plans to spend at least $12.5 million over three years to acquire a 60% stake, with an option to raise it to 80%.
According to the company, three holes totalling 1,868 metres have been drilled so far. Initial assays confirm a highly mineralised, continuous gold-antimony system. The C3 zone returned 3.3 g/t gold and 0.7% antimony over 10.6 metres, and the C2 zone extends a further 115 metres below previously known limits.
why it matters
The news is mainly relevant to Alkane shareholders. For gold and antimony markets it is a sign of potential at a new site that could extend mine life at the existing Costerfield project. No direct effect on metal prices is expected.
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sources
- Alkane Drilling Confirms and Extends Gold-Antimony Mineral System at Nagambie, Victoria — globenewswire.com, 19 October 2026 at 23:30 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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