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Alkane Resources Ltd ( (AU:ALK) ) has provided an announcement.
Alkane Resources has reported encouraging drilling results from the Storheden deposit, about 600 metres north of its operating Björkdal mine in Sweden, showing gold-bearing quartz veins down to 464 metres—more than double the previously tested depth of 200 metres—and extending the strike length of known mineralisation to over 2.7 kilometres. The company says the deposit remains open at depth with no sign of weakening grades, and that Storheden’s geology appears to mirror and potentially converge with the main Björkdal system, positioning it as a potential new high‑grade production area that could replace lower-grade stockpile feed, support resource growth and enhance the long‑term production profile of the Björkdal operation.
The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.
More about Alkane Resources Ltd
Alkane Resources Ltd is a gold mining and exploration company with a 100% interest in the Björkdal Operation in northern Sweden, a long‑life gold mine that has produced about 1.66 million ounces since 1988. The company controls a 211 square kilometre package of exploration tenements and mining concessions around the Björkdal dome and is focused on expanding underground resources and bringing higher-grade ore into its processing plant by developing nearby deposits such as Storheden.
Average Trading Volume: 8,541,704
Technical Sentiment Signal: Buy
Current Market Cap: A$1.54B
For detailed information about ALK stock, go to TipRanks’ Stock Analysis page.