Home / Business and Economy / Gold-Antimony Bonanza: True Blue Deposit Yields High-Grade Results
Gold-Antimony Bonanza: True Blue Deposit Yields High-Grade Results
6 Jul
Summary
- Alkane Resources uncovered high-grade gold and antimony at True Blue.
- Recent drilling improved confidence for True Blue deposit development.
- Costerfield has a long history of gold-antimony production.
Alkane Resources Ltd has revealed new high-grade gold and antimony assay results from extension and infill drilling at the True Blue deposit. This deposit is situated two kilometers west of the Costerfield Operation's active underground workings in central Victoria.
The recent drilling campaign focused on the Freeman veining within the True Blue deposit. This effort aimed to infill the upper portion, thereby enhancing the company's understanding of the vein geometry and grade-controlling structures. Several high-grade intersections were reported, including significant gold and antimony concentrations over narrow widths.
These results have bolstered development confidence for True Blue. Alkane's managing director stated that the geological confidence gained will allow progression with development plans. The drilling has also refined the geological model for further targeting along the True Blue Corridor. The Costerfield area is a historical gold-antimony field with modern mining operations since 2006.
Alkane Resources, an Australian gold and antimony producer, operates three mines, including Costerfield. The company achieved a record quarterly profit of $93 million for the March 2026 quarter. True Blue became a key exploration focus after economic grades were discovered in drill hole TB010 in 2022.
