Business · Energy & Commodities · 2 hrs ago
Alkane drilling confirms and extends gold-antimony system at Nagambie
Alkane Resources says drilling confirmed and extended a gold-antimony mineral system at its Nagambie property in Victoria, Australia.
The company announced initial exploration results from an earn-in period, but the details of those results are not provided here.
Alkane has agreed to spend $12.5 million on exploration and evaluation to earn an interest in the property.
That spending could give it a 60% stake over three years.
The agreement also gives Alkane the right to increase its interest to 80% with further spending.
The arrangement links Alkane’s investment to the amount of exploration it undertakes.
The initial results mark progress, while the company’s planned work will determine what it learns about the mineral system.
Alkane Resources reported initial exploration results from drilling at the Nagambie property in Victoria, Australia.
The company said the drilling confirmed and extended a gold-antimony mineral system.
The results came during an earn-in period under which Alkane has agreed to spend $12.5 million on exploration and evaluation over three years.
Alkane can earn a 60% interest in the property and has the right to increase that to 80% with further expenditure.
- Who
- Alkane Resources Limited reported the results.
- What
- Drilling confirmed and extended a gold-antimony mineral system at Nagambie.
- When
- October 19, 2026.
- Where
- The Nagambie property in Victoria, Australia.
- Why
- The drilling results were reported as part of Alkane’s earn-in exploration and evaluation activities.
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- Company
- Alkane Resources Limited
- Property
- Nagambie, Victoria, Australia
- Initial earn-in spending
- $12.5 million over three years
- Earn-in interest
- 60%, with the right to move to 80% with further expenditure