Alkane seeks licence to search for metal deposits near Trangie

Not sure if this article has been posted yet, but it shows that ALK is still into exploration.

https://www.westernmagazine.com.au/...ce-to-search-for-metal-deposits-near-trangie/

Pretty disappointed that the March quarter self set deadlines for the BFS standard modular study, and the decision for the Tomingley underground have passed without any explanation.  Whereas the offtake agreements and the funding are beyond the control of the company, these two items are not dependent on anyone except ALK.

Can only hope that they will provide an update in the quarterly due in the next couple of weeks. I am also waiting on the drill results for both Bodangora and Tomingley.

“The Trangie Exploration Licence Application (ELA 5648) is targeting a geophysical anomaly discovered by state aerial and ground surveys.

“This anomaly is a coincident magnetic and gravity feature which is different to regional geological character.
“The roughly circular anomaly is centred on the Trangie-Collie Road approximately 5km from Trangie.

“In due course Alkane will establish contact with the several landowners whose land is within the area of interest.
“Preliminary investigations are likely to involve ground based geophysical survey, examination of any existing outcrops of rock and some initial shallow exploration holes using a small mobile drilling rig.

“This work will establish if there is any potential for metals such as nickel, copper, cobalt, niobium, zirconium and rare earth elements in the subsurface target.

General Manager of NSW Alkane Resources Michael Sutherland said: “We are looking forward to meeting the Trangie community and having a talk about it when it has all been advertised and processed”.

Mr Sutherland said it is unknown how long the exploration is expected to take.

Will still buy if the price is low enough but this company can really test your patience. Should be a good result for Tomingley this quarter, with a increase in cash in the bank.

I bought this as a long term play, but the off delayed start date for the DP is starting to grate.