Alkane Resources Limited has released new exploration data from the True Blue deposit, located 2 kilometers west of the active underground workings at its Costerfield Operation in central Victoria, Australia. The results stem from an additional 33 drill holes targeting the Freeman veining system, drilled since the company’s previous update in October 2025.
Infill Drilling Enhances Geological Confidence
The infill drilling program focused on the upper portion of the deposit, significantly improving the understanding of vein geometry and grade-controlling structures. According to Alkane, the higher resolution data reveals additional veining complexity that subdivides a previously interpreted high-grade panel. This detailed knowledge is critical for guiding future mining plans and resource estimation.
Alkane Managing Director and CEO Nic Earner commented: “The infill drilling of True Blue gives us the geological confidence needed to proceed with our plans for development of the deposit. The geological context gained from the drilling has also enhanced the model for further targeting along the True Blue Corridor. True Blue is certainly more complex than our original estimates, we are encouraged by the progress made and excited by the targets yet to be tested.”
Assay Highlights from True Blue
Key assay results from the Freeman (700) vein include 57.6 grams per tonne gold and 25.4% antimony over 0.25 meters (estimated true width 0.17 meters) in hole TB055. Other notable intercepts from the same vein are 20.9 g/t gold and 19.5% antimony over 0.31 meters (ETW 0.22m) in TB057, 74.3 g/t gold and 6.4% antimony over 0.8 meters (ETW 0.63m) in TB080, and 30.1 g/t gold and 14.8% antimony over 0.27 meters (ETW 0.17m) in TB065.
From associated veins, highlights include 84.1 g/t gold and 15.4% antimony over 0.48 meters (ETW 0.36m) in TB084 (702 splay), 17.9 g/t gold and 1.7% antimony over 3.2 meters (ETW 1.4m) in TB053 (705 vein), 19.3 g/t gold and 29.3% antimony over 0.22 meters (ETW 0.16m) in TB079, and 11.2 g/t gold and 5.7% antimony over 0.77 meters (ETW 0.54m) in TB055.
Future Exploration Plans
Current and future exploration drilling will target along-strike repetitions of mineralization at True Blue, both to the north and south. The company also plans to investigate the link between True Blue and the West Costerfield prospect. These efforts aim to expand the resource base and further delineate the deposit’s potential.
Historical Context of Costerfield
The Costerfield gold-antimony deposit was discovered in 1861, with antimony identified in the district as early as 1853 during the McIvor (Heathcote) alluvial gold rush. Several lodes along a 3-kilometer corridor were developed, with historical production concentrated at the Costerfield (Main), Bombay, and Minerva mines. Production occurred primarily in two phases: 1861–1883 and 1903–1924, with a brief redevelopment attempt between 1933 and 1939. Alkane Resources now holds 100% of the Costerfield operation and continues to advance the True Blue deposit toward development.
