(GLOBE NEWSWIRE via COMTEX) --
PERTH, Australia, July 08, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) ("Alkane" or "the Company") is pleased to report further positive results from extension and infill drilling at the Bjorkdal Gold Mine in Sweden.
Program Summary
- An additional 29 drill holes have been completed targeting the Eastern and Northern extensions of the Bjorkdal mine since Alkane's previous release (ASX announcement 15 October 2025 titled 'Bjorkdal Resources and Reserves Statement FY25')
- The new drilling, completed in rolling phases of extension and infill across both target areas, has significantly enhanced confidence in the understanding of vein geometry and grade-controlling structures.
- Grade continuity within both areas has been supported by the drilling with high-grade intercepts within the eastern extension extending the known mineralisation to a depth of 762 m below surface which is the deepest yet recorded in the field.
- Current and planned exploration drilling will continue to target along-strike and down-dip extensions of the known mineralisation, with the objective of further expanding mineral resources and supporting future mine-life growth.
Assay Highlights
- Eastern Extension - 86.1 g/t gold over 1.25 m (ETW 0.80 m) in MU25-030
- 81.3 g/t gold over 4.40 m (ETW 2.20 m) in MU25-022
- 78.3 g/t gold over 0.30 m (ETW 0.21 m) in MU26-005
- 39.3 g/t gold over 0.50 m (ETW 0.41 m) in MU25-011
- Northen Extension
- 31.5 g/t gold over 0.85 m (ETW 0.22 m) in MU26-002
- 25.2 g/t gold over 0.60 m (ETW 0.42 m) in MU25-027
- 17.1 g/t gold over 0.80 m (ETW 0.40 m) in MU25-016
- 15.4 g/t gold over 4.00 m (ETW 1.37 m) in MU25-032
Alkane Managing Director & CEO, Nic Earner, said:
"We are encouraged by the results coming from our near mine extension programs at Bjorkdal. The positive results indicate that the mineral system is still strong and open at depth. These results, together with the new resource at Storheden, support our confidence in the potential to increase production in addition to the longevity of the operation."
Bjorkdal Gold Mine
Alkane Resources Ltd 100%
The Bjorkdal Gold Mine is located on the eastern margin of the prolific Skellefte Belt in northern Sweden, approximately 28 km northwest of Skelleftea and 750 km north of Stockholm (Figure 1).
The deposit was discovered in 1983 by Terra Mining AB through a glacial till sampling program that identified anomalous gold values. Follow-up exploration led to the discovery of gold mineralisation in bedrock in 1985, with resource definition drilling commencing in 1986. Concurrent metallurgical test work and feasibility studies delivered positive results, paving the way for the commencement of mining operations in July 1988.
Since production began, Bjorkdal has undergone several changes in ownership while continuing to operate as a significant gold-producing asset. Most recently, the operation became wholly owned by Alkane Resources following its merger with Mandalay Resources in August 2025.
Production is supported by the 1.4 Mtpa processing plant, which has been progressively upgraded since commissioning. Current ore feed is sourced from underground mining operations and surface low-grade stockpiles.
Since the start of production in 1988, the Bjorkdal Mine has produced approximately 1.69 million ounces of gold. Continued exploration success has delivered growth in both Mineral Resources and Ore Reserves, with the current Ore Reserve reported, as of 30 June 2025, of 13.05 Mt grading 1.29g/t gold (ASX announcement 15 October 2025 titled 'Bjorkdal Resources and Reserves Statement FY25')
Figure 1: Regional map showing the location of Bjorkdalsgruvan relative to the broader Skellefte Belt, highlighting known base and precious metal occurrences (SWEREF 99TM).
Figure 2: Regional geological map showing the locations of the three main deposits in the Bjorkdal area and contiguous exploration permits (SWEREF 99TM).
Deposit Geology
The Bjorkdal Gold Mine is located in the eastern part of the Paleoproterozoic Skellefte District in northern Sweden. The Skellefte District constitutes a 1.89-1.88 Ga volcanic arc and hosts numerous volcanic massive sulphide (VMS) and lode gold deposits (Figure 1).
Mineralisation at Bjorkdal occurs primarily as free milling gold and is hosted within centimetre- to meter-wide, subvertical quartz veins, predominantly beneath a marble horizon within a complex sequence of volcano-sedimentary rocks belonging to the Upper and Lower Skellefte Groups (Figure 2). The mineralised system plunges eastward and northward (mine grid), forming a 30-60 metre thick zone of sheeted quartz veins containing gold mineralisation (Figure 4).
The principal vein set strikes east-west (070-090° in mine grid coordinates) and represents the primary target for underground mining both above and below the marble horizon. Additional subordinate vein sets occur at varying orientations and may also host economically significant gold mineralisation.
Vein geometry and distribution are strongly influenced by shearing, thrusting and folding. Variations in vein orientation (Figure 3), mineralogy, wall-rock alteration and fluid inclusion characteristics indicate multiple phases of veining and mineralising fluid activity.
Figure 3: Typical auriferous quartz veining observed at Bjorkdal. (A) Main Zone. (B) Lake Zone. (C) Lake Zone Above.
Figure 4: (A) Oblique view looking down and to the NE (Mine Grid) displaying known auriferous quartz veining at Bjorkdal. (B) Cross section ± 30 metres along the Bjorkdal deposit looking to the NE (Mine Grid).
Drilling Results
Since the previous release, 29 growth and infill drill holes have been completed, totalling 15,568m of diamond drilling. Drilling was focused on two target areas within the underground mine, the Eastern and Northern Extension (Figure 5). Both target areas are situated stratigraphically below the marble unit that extends throughout the mine area.
Figure 5: Mine Scale overview showing the location of the most recent drilling in relation to current underground development (Mine Grid).
Eastern Extension
Thirteen holes have been drilled along the eastern flank of the mine since June 2025, totalling 6,304 m with an average hole depth of 485 m. The program was completed in two phases of infill and extensional drilling, targeting strike and depth extensions of veining within the Main Zone of the underground mine. A total of 169 ore-grade intercepts have been identified within the target zone, including the best result from drillhole MU25-030, which returned 86.1 g/t gold over 1.25 m (ETW 0.80 m). The program also delivered the deepest intercept recorded at the mine to date, with drillhole MU25-021 returning 3.5 g/t gold over 3.20 m (ETW 2.45 m) at -976 RL (-762 m elevation) (Figure 6).
Figure 6: Oblique view to the WSW highlighting results from the most recent drilling campaign along the eastern flank of the underground mine.
Figure 7: Core tray photograph from MU25-030, where the highest-grade interval of the drill program was intersected.
Northern Extension
Sixteen holes were drilled within the Northern Extension of the underground mine since June 2025, totalling 9,264 m, with an average hole depth of 580 m. Building on the success of previous drilling campaigns, the program was designed to improve the understanding of vein morphology and structural controls on mineralisation, while testing the northern and western extensions of known veining.
The program successfully confirmed previously identified vein swarms and further enhanced confidence in the geological interpretation of the area. Assessment of the western extent of the target zone was constrained by the availability of underground drill platforms; however, the information collected has enabled the development of a more robust structural model, which will support future targeting and resource growth within the Northern Extension. A total of 68 ore-grade intercepts have been identified within the target zone, including the best result from drillhole MU26-002, which returned 31.5 g/t gold over 0.85 m (ETW 0.22 m). Drilling has confirmed mineralised veins up to approximately 600 m from existing underground development (Figure 8).
Figure 8: Oblique view to the SW highlighting results from the most recent drilling campaign in the Northern extension of the underground mine.
Figure 9: Drill core photos from MU25-027 showing an intercept grading 25.2 g/t gold over 0.60 m (ETW 0.42 m) (A) and a close-up of mineralised quartz vein (B).
Future Plans
Mineralisation remains open at depth and along strike in both the Northern Extension and Eastern Extension target areas. In FY27, underground drilling will continue in staged programs of infill and extension drilling aimed at improving geological confidence and testing continuity of mineralisation.
At the Northern Extension, drilling will continue to test both depth and along-strike continuity, with western extension drilling to be supported by the establishment of a dedicated underground drill platform. This will enable improved drill orientations and reduce scheduling conflicts between drilling and mining activities.
At the Eastern Extension, mineralisation remains open at depth and along strike to the east. Future drilling will focus on step-out extensional testing to assess the continuity of known vein swarms and refine the structural controls on mineralisation in this area.
This document has been authorised for release to the market by Nic Earner, Managing Director and CEO.
ABOUT ALKANE - www.alkres.com - ASX:ALK | TSX: ALK | OTCQX: ALKRY
Alkane (ASX:ALK; TSX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.
Alkane's wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Bjorkdal underground gold mine northwest of Skelleftea in Sweden (approximately 750 km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.
Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia's reputation as a significant gold, copper and antimony production region.
Competent / Qualified Persons Statement
Certain information in this announcement relating to Exploration Results has been previously released to the ASX. Alkane confirms that it is not aware of any new information or data that materially affects the information included in those market announcements and that all material assumptions and technical parameters underpinning the estimates and Exploration Results in those announcements continue to apply and have not materially changed.
The information in this report that relates to the Costerfield Exploration Results is based on, and fairly represents, information compiled and verified by Mr Chris Davis. Mr Davis is a Chartered Professional (Geology) of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)) and a Member of the Australian Institute of Geoscientists (MAIG).
Mr Davis has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves" (JORC Code).
For the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101'), the scientific and technical information contained in this announcement relating to the Costerfield Exploration Results has been prepared under the supervision of, and approved by, Mr Chris Davis, who is a "qualified person" as defined in NI 43-101. Mr Davis is employed by Alkane as Chief Geologist and, as an employee of Alkane, is not considered independent of Alkane within the meaning of NI 43-101.
Mr Davis consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.
Cautionary Note Regarding Forward-Looking Information and Statements
This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively Forward-Looking Information). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of Alkane to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-Looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-Looking Information.
Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price.
Forward-Looking Information is designed to help readers understand Alkane's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.
Disclaimer
Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.
This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever.
APPENDIX 1 - Tabulated Drilling Results
Significant intercepts from Near Mine Exploration drilling program at Bjorkdal
Hole ID From (m) To (m) Interval Estimated True Width (m) Gold Grade (g/t) Gold Grade diluted to 1 m (g/t)
MU25-011 69 70 1.00 0.94 1.03 0.97
MU25-011 77 78 1.00 0.82 0.88 0.72
MU25-011 114 115 1.00 0.71 2.32 1.64
MU25-011 125.3 126 0.70 0.54 1.22 0.65
MU25-011 131.8 132.7 0.90 0.69 1.93 1.33
MU25-011 189 190 1.00 0.64 0.84 0.54
MU25-011 193.3 194.4 1.10 0.38 1.34 0.50
MU25-011 198.2 199.4 1.20 0.21 22.40 4.67
MU25-011 218 218.9 0.90 0.74 6.80 5.01
MU25-011 235 235.5 0.50 0.41 39.30 16.10
MU25-011 241.2 242.4 1.20 0.98 7.08 6.96
MU25-011 252.8 254 1.20 1.04 1.05 1.05
MU25-011 277 278 1.00 0.71 3.75 2.65
MU25-011 284.3 285 0.70 0.66 1.30 0.86
MU25-011 289 290.7 1.70 1.54 1.89 1.89
MU25-011 403 404 1.00 0.34 1.86 0.64
MU25-011 418 419 1.00 0.87 1.23 1.07
MU25-011 425 426 1.00 0.64 2.00 1.29
MU25-011 472 474 2.00 1.29 6.52 6.52
MU25-011 481 481.5 0.50 0.43 1.98 0.86
MU25-011 492 493 1.00 0.87 1.73 1.50
MU25-012 184 185 1.00 0.87 0.87 0.75
MU25-012 204 205 1.00 0.77 0.89 0.68
MU25-012 225.15 226.1 0.95 0.54 3.11 1.69
MU25-012 280 280.65 0.65 0.50 1.40 0.70
MU25-012 300 300.8 0.80 0.57 5.04 2.85
MU25-013 77 78 1.00 0.77 23.40 17.93
MU25-013 181.2 182.15 0.95 0.61 0.90 0.55
MU25-013 185.4 186 0.60 0.46 14.90 6.85
MU25-013 204.9 205.4 0.50 0.38 14.30 5.48
MU25-013 215.5 216.2 0.70 0.61 37.20 22.55
MU25-013 232.1 232.8 0.70 0.61 1.37 0.83
MU25-013 239 240 1.00 0.26 2.12 0.55
MU25-013 262.2 263.3 1.10 0.95 1.18 1.12
MU25-013 289 291.9 2.90 2.22 1.96 1.96
MU25-013 306.6 307.3 0.70 0.54 1.12 0.60
MU25-013 314.5 317.7 3.20 2.45 2.87 2.87
MU25-013 341.8 343 1.20 0.85 2.91 2.47
MU25-013 363.4 364.1 0.70 0.45 1.62 0.73
MU25-013 375.3 376.7 1.40 1.07 8.76 8.76
MU25-013 381 382 1.00 0.87 9.84 8.52
MU25-013 449 450 1.00 0.64 2.76 1.77
MU25-013 464 465.7 1.70 0.58 1.14 0.66
MU25-013 470 471 1.00 0.50 1.25 0.63
MU25-014 169.5 170.2 0.70 0.54 4.89 2.62
MU25-014 200.5 201.15 0.65 0.63 4.82 3.03
MU25-014 218.9 219.6 0.70 0.54 1.99 1.07
MU25-014 257.6 263.7 6.10 5.73 2.20 2.20
MU25-014 327.4 328 0.60 0.46 4.35 2.00
MU25-014 361.7 362.95 1.25 1.02 1.34 1.34
MU25-014 364.8 371.6 6.80 6.39 1.70 1.70
MU25-015 99.5 100.1 0.60 0.25 5.92 1.50
MU25-015 323.6 325.4 1.80 0.90 2.47 2.22
MU25-015 352.15 352.8 0.65 0.22 8.66 1.93
MU25-015 432.65 433.5 0.85 0.65 9.21 6.00
MU25-016 237 238 1.00 0.77 2.08 1.59
MU25-016 345.1 345.6 0.50 0.25 4.73 1.18
MU25-016 357.4 358.2 0.80 0.40 17.10 6.84
MU25-017 335.1 335.8 0.70 0.45 11.10 4.99
MU25-017 350.7 351.5 0.80 0.66 0.93 0.61
MU25-017 383.5 384.5 1.00 0.87 2.16 1.87
MU25-017 385.5 386.3 0.80 0.69 1.45 1.00
MU25-017 389.8 390.6 0.80 0.61 1.63 1.00
MU25-017 394.5 395.8 1.30 1.13 1.38 1.38
MU25-017 401.9 402.9 1.00 0.64 2.24 1.44
MU25-017 406.9 408.5 1.60 1.13 5.71 5.71
MU25-017 490 490.5 0.50 0.38 1.91 0.73
MU25-017 647.2 647.7 0.50 0.35 13.20 4.67
MU25-019 609.2 611 1.80 1.16 2.82 2.82
MU25-020 135.8 136.8 1.00 0.71 0.92 0.65
MU25-020 219.65 220.05 0.40 0.31 32.50 9.96
MU25-020 271.6 272.6 1.00 0.71 17.30 12.23
MU25-020 288.4 289.2 0.80 0.51 3.26 1.68
MU25-020 294.1 294.6 0.50 0.45 1.82 0.82
MU25-020 321.2 321.7 0.50 0.38 1.53 0.59
MU25-020 325.5 326.35 0.85 0.55 12.40 6.77
MU25-020 330.2 331.25 1.05 0.60 1.51 0.91
MU25-020 349 350 1.00 0.57 6.63 3.80
MU25-020 363.45 363.95 0.50 0.43 1.37 0.59
MU25-020 365.9 371.4 5.50 3.89 6.65 6.65
MU25-020 381.2 382.2 1.00 0.82 2.84 2.33
MU25-020 387.1 388 0.90 0.78 0.81 0.63
MU25-021 47.3 47.95 0.65 0.33 2.08 0.68
MU25-021 135.1 135.85 0.75 0.26 5.09 1.31
MU25-021 154.3 155.85 1.55 1.00 2.76 2.75
MU25-021 159.25 160.2 0.95 0.73 2.85 2.07
MU25-021 222 222.8 0.80 0.61 1.16 0.71
MU25-021 234.7 235.7 1.00 0.50 4.01 2.01
MU25-021 262 263.2 1.20 0.51 2.74 1.39
MU25-021 332.3 335.5 3.20 1.60 1.64 1.64
MU25-021 358 358.8 0.80 0.69 1.55 1.07
MU25-021 380.4 381.4 1.00 0.87 1.04 0.90
MU25-021 390 390.8 0.80 0.51 3.02 1.55
MU25-021 424.7 425.7 1.00 0.87 2.29 1.98
MU25-021 436.2 437.4 1.20 0.60 1.00 0.60
MU25-021 454.85 456.4 1.55 1.00 1.41 1.41
MU25-021 462.45 463.35 0.90 0.69 9.88 6.81
MU25-021 478.5 479.1 0.60 0.46 35.00 16.09
MU25-021 489.9 490.6 0.70 0.54 2.49 1.34
MU25-021 525.5 526.7 1.20 0.77 1.53 1.18
MU25-021 536.2 539.4 3.20 2.45 3.52 3.52
MU25-022 116.6 116.95 0.35 0.20 19.30 3.87
MU25-022 167.65 169.6 1.95 0.97 1.14 1.11
MU25-022 217.9 218.45 0.55 0.39 3.73 1.45
MU25-022 241.2 242.95 1.75 1.24 13.53 13.53
MU25-022 253.75 255.3 1.55 1.00 2.25 2.24
MU25-022 274.15 277.1 2.95 1.48 2.79 2.79
MU25-022 281.95 283.05 1.10 0.95 1.32 1.26
MU25-022 288.2 289.2 1.00 0.64 17.29 11.12
MU25-022 293.3 294 0.70 0.61 1.37 0.83
MU25-022 331.05 332.2 1.15 1.00 2.91 2.90
MU25-022 341.2 345.6 4.40 2.20 81.31 81.31
MU25-022 349.7 351.5 1.80 1.38 2.46 2.46
MU25-022 361.3 362 0.70 0.61 1.35 0.82
MU25-022 400.5 400.95 0.45 0.29 7.62 2.20
MU25-023 72.9 73.85 0.95 0.61 1.47 0.90
MU25-023 90 91.05 1.05 0.80 3.35 2.69
MU25-023 147.15 147.7 0.55 0.35 20.80 7.35
MU25-023 193.1 193.6 0.50 0.21 14.80 3.13
MU25-023 281.2 284.4 3.20 2.06 1.93 1.93
MU25-023 299 300.05 1.05 0.67 21.70 14.65
MU25-023 332.2 333 0.80 0.51 1.78 0.92
MU25-024 69.7 72.1 2.40 1.20 3.12 3.12
MU25-024 79.4 80.3 0.90 0.69 4.36 3.00
MU25-024 84.05 85.1 1.05 0.52 3.09 1.62
MU25-024 147.5 148.5 1.00 0.87 4.33 3.75
MU25-024 161.5 162 0.50 0.32 2.35 0.76
MU25-024 166 170.3 4.30 3.52 34.37 34.37
MU25-024 363.5 363.9 0.40 0.35 2.03 0.70
MU25-025 283.5 284.5 1.00 0.57 2.69 1.54
MU25-025 434 434.6 0.60 0.56 1.85 1.04
MU25-025 435.5 436.4 0.90 0.69 1.17 0.81
MU25-025 458.2 458.7 0.50 0.43 1.17 0.51
MU25-025 469.3 469.6 0.30 0.23 6.31 1.45
MU25-025 498 498.8 0.80 0.57 4.80 2.72
MU25-025 505.65 506.3 0.65 0.53 2.41 1.28
MU25-025 509.3 510.3 1.00 0.94 2.54 2.39
MU25-027 375.5 376.5 1.00 0.50 1.13 0.57
MU25-027 402.9 403.9 1.00 0.64 4.63 2.98
MU25-027 424.4 425 0.60 0.42 25.20 10.69
MU25-027 462.8 463.4 0.60 0.46 4.18 1.92
MU25-027 485.7 486.7 1.00 0.50 2.80 1.40
MU25-028 171.6 172.6 1.00 0.71 1.09 0.77
MU25-029 76.9 78.75 1.85 0.63 3.26 2.06
MU25-029 124.8 126.95 2.15 0.56 6.31 3.51
MU25-029 149.3 149.85 0.55 0.35 3.40 1.20
MU25-029 163.35 163.9 0.55 0.42 3.79 1.60
MU25-029 221.3 221.75 0.45 0.39 1.60 0.62
MU25-029 225.1 226 0.90 0.69 3.02 2.08
MU25-029 260.8 262.8 2.00 0.68 19.83 13.56
MU25-029 307.6 308.4 0.80 0.51 13.20 6.79
MU25-029 312 313.65 1.65 1.26 4.29 4.29
MU25-029 328.9 330.6 1.70 1.47 1.16 1.16
MU25-029 407.1 408.3 1.20 0.60 11.40 6.84
MU25-030 90.1 91 0.90 0.64 0.96 0.61
MU25-030 95 96.1 1.10 0.38 2.30 0.87
MU25-030 110.65 112.4 1.75 0.60 20.50 12.27
MU25-030 118.2 118.8 0.60 0.30 14.10 4.23
MU25-030 138.8 143 4.20 2.10 13.43 13.43
MU25-030 174.9 175.9 1.00 0.26 4.66 1.21
MU25-030 191.55 192.4 0.85 0.42 16.95 7.20
MU25-030 195.5 196.5 1.00 0.26 3.45 0.89
MU25-030 220.3 220.75 0.45 0.32 1.99 0.63
MU25-030 223.35 223.9 0.55 0.35 11.40 4.03
MU25-030 240 240.4 0.40 0.28 3.73 1.06
MU25-030 245.6 249 3.40 1.70 5.94 5.94
MU25-030 259.3 260.2 0.90 0.78 1.33 1.04
MU25-030 320.65 321.9 1.25 0.80 86.08 69.16
MU25-030 328 328.65 0.65 0.46 1.24 0.57
MU25-030 346.2 346.95 0.75 0.38 4.86 1.82
MU25-030 372.3 372.8 0.50 0.25 3.26 0.82
MU25-030 380.1 380.7 0.60 0.21 26.10 5.36
MU25-031 95.85 96.4 0.55 0.28 11.80 3.25
MU25-031 126.3 127.35 1.05 0.80 5.52 4.44
MU25-031 135.3 136.5 1.20 0.77 3.62 2.79
MU25-031 153.6 158 4.40 2.20 1.87 1.87
MU25-031 229.5 230.3 0.80 0.61 5.50 3.37
MU25-031 236.6 237.55 0.95 0.61 0.93 0.57
MU25-031 244 245 1.00 0.77 1.49 1.14
MU25-031 270.45 272.4 1.95 0.97 16.16 15.75
MU25-031 278 279 1.00 0.71 2.20 1.56
MU25-031 291 294.6 3.60 1.80 14.52 14.52
MU25-031 297.4 298.6 1.20 0.60 2.50 1.50
MU25-031 310 311.2 1.20 0.77 10.06 7.76
MU25-031 323.4 323.8 0.40 0.28 2.40 0.68
MU25-031 354.6 355 0.40 0.28 8.45 2.39
MU25-032 37.7 41.7 4.00 1.37 15.41 15.41
MU25-032 201.1 205.1 4.00 1.37 2.13 2.13
MU25-032 265.2 265.7 0.50 0.25 3.63 0.91
MU25-032 349 349.4 0.40 0.23 2.53 0.58
MU25-033 33.7 34.7 1.00 0.57 2.70 1.55
MU25-033 41.7 42.7 1.00 0.64 1.29 0.83
MU26-001 23.4 25.3 1.90 0.65 3.36 2.18
MU26-002 24.7 25.7 1.00 0.50 7.39 3.70
MU26-002 118.6 119.6 1.00 0.34 2.87 0.98
MU26-002 320.65 321.5 0.85 0.22 31.50 6.93
MU26-002 381.7 382.6 0.90 0.85 0.95 0.80
MU26-002 485 486 1.00 0.71 4.12 2.91
MU26-003 15 16 1.00 0.71 1.04 0.74
MU26-003 20 21 1.00 0.77 5.47 4.19
MU26-003 347.2 347.85 0.65 0.53 14.50 7.72
MU26-003 471.7 472.7 1.00 0.50 13.00 6.50
MU26-003 550.8 551.7 0.90 0.45 1.25 0.56
MU26-004 349.7 350.7 1.00 0.64 4.27 2.74
MU26-004 380.85 381.4 0.55 0.42 15.20 6.40
MU26-004 389 390 1.00 0.71 1.57 1.11
MU26-004 392 393 1.00 0.64 2.63 1.69
MU26-004 395 398 3.00 1.50 0.89 0.89
MU26-004 407.8 408.8 1.00 0.77 2.27 1.74
MU26-004 417.4 417.9 0.50 0.38 2.50 0.96
MU26-004 520.6 523.6 3.00 1.93 2.08 2.08
MU26-004 575 575.7 0.70 0.54 5.60 3.00
MU26-004 578.2 579 0.80 0.57 1.52 0.86
MU26-004 609.4 610.2 0.80 0.51 4.36 2.24
MU26-005 56.7 58.4 1.70 0.85 2.53 2.15
MU26-005 88 94.5 6.50 4.18 6.46 6.46
MU26-005 109.9 110.5 0.60 0.46 1.17 0.54
MU26-005 120.9 121.9 1.00 0.87 3.76 3.26
MU26-005 146 146.3 0.30 0.23 5.02 1.15
MU26-005 153.6 154.4 0.80 0.57 13.00 7.35
MU26-005 158.05 158.5 0.45 0.39 1.67 0.65
MU26-005 166 166.55 0.55 0.48 2.72 1.30
MU26-005 190.2 192 1.80 1.63 4.84 4.84
MU26-005 198.7 199.2 0.50 0.25 19.90 4.98
MU26-005 214.5 215.6 1.10 0.71 1.05 0.74
MU26-005 219.6 220.2 0.60 0.46 4.89 2.25
MU26-005 221.5 221.85 0.35 0.34 1.48 0.51
MU26-005 222.4 223 0.60 0.39 1.30 0.50
MU26-005 395 395.3 0.30 0.21 78.30 16.61
MU26-016 108.4 109.1 0.70 0.49 1.56 0.77
MU26-016 277.2 278.1 0.90 0.69 1.39 0.96
MU26-016 443.5 444.5 1.00 0.71 3.40 2.40
MU26-016 456.55 457.2 0.65 0.53 2.14 1.14
MU26-016 477.1 477.8 0.70 0.49 2.22 1.10
MU26-016 479.1 480 0.90 0.69 0.80 0.55
MU26-016 495.2 495.85 0.65 0.53 8.13 4.33
MU26-016 509.4 512.4 3.00 2.12 2.15 2.15
Notes:
- Where true widths are greater than 1m, grades are not diluted and are presented as the grade over the intercept true width.
- Intercepts that are below 0.5 g/t Au when diluted to 1 m are not reported in this table.
Drill hole collar details from Near Mine Exploration drilling program at Bjorkdal:
Drill Program Hole ID Northing Easting Elevation Depth Dip Azimuth Date Completed
Eastern Extension MU25-011 7213345 764477 -438 502 -29.3 350.8 19-Jun-25
Eastern Extension MU25-012 7213345 764477 -438 502.1 23.9 353.1 28-Jul-25
Eastern Extension MU25-013 7213345 764477 -438 510.2 -32.1 357.1 18-Aug-25
Eastern Extension MU25-014 7213345 764477 -438 501.15 -27.1 357.9 08-Sep-25
Northern Extension MU25-015 7213283 763298 -386 581.1 -9.3 296.5 21-Jun-25
Northern Extension MU25-016 7213283 763298 -385 592 -7.8 294.3 11-Jul-25
Northern Extension MU25-017 7213216 763317 -415 673.3 -4.9 296.5 28-Aug-25
Northern Extension MU25-018 7213216 763317 -415 775.5 -7.1 292.7 23-Sep-25
Northern Extension MU25-019 7213216 763317 -415 702.2 -5.9 289.0 14-Oct-25
Eastern Extension MU25-020 7213345 764477 -438 585.3 -39.9 5.2 03-Oct-25
Eastern Extension MU25-021 7213346 764478 -438 600 -38.2 6.9 25-Oct-25
Eastern Extension MU25-022 7213346 764478 -438 600 -34.8 13.2 23-Nov-25
Eastern Extension MU25-023 7213346 764478 -438 363 -41.0 15.8 07-Dec-25
Eastern Extension MU25-024 7213406 764374 -456 406.5 -28.1 345.0 28-Dec-25
Northern Extension MU25-025 7213216 763317 -414 642.4 -2.9 292.2 05-Nov-25
Northern Extension MU25-026 7213217 763317 -414 423.2 1.6 296.6 14-Nov-25
Northern Extension MU25-027 7213216 763317 -414 503.2 4.0 285.0 29-Nov-25
Northern Extension MU25-028 7213195 763281 -282 499.8 -6.2 271.7 12-Dec-25
Eastern Extension MU25-029 7213410 764377 -457 417.1 -32.5 1.0 15-Jan-26
Eastern Extension MU25-030 7213410 764377 -457 449.7 -36.1 7.3 29-Jan-26
Eastern Extension MU25-031 7213410 764377 -457 465 -37.3 14.0 14-Feb-26
Northern Extension MU25-032 7213196 763281 -282 503.8 -9.0 282.2 24-Dec-25
Northern Extension MU25-033 7213195 763281 -281 466.4 -4.0 276.0 09-Jan-26
Northern Extension MU26-001 7213196 763281 -281 549 -8.1 287.2 26-Jan-26
Northern Extension MU26-002 7213196 763281 -282 498.15 -12.1 286.1 06-Feb-26
Northern Extension MU26-003 7213197 763281 -282 560.8 -19.0 298.0 24-Feb-26
Northern Extension MU26-004 7213194 763181 -437 642.25 -27.9 332.0 17-Mar-26
Eastern Extension MU26-005 7213404 764373 -457 402 -32.2 349.4 02-Mar-26
Northern Extension MU26-016 7213194 763181 -437 651 -19.9 318.2 11-Apr-26
Notes:
- Coordinate System: SWEREF 99TM
APPENDIX 2
JORC Code, 2012 Edition - Table 1 Report - Bjorkdal Gold Mine
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques - Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. The Bjorkdal Mine has been evaluated using diamond drilling (DD) core samples, reverse circulation (RC) samples located in the open pit, chip/channel (CH) samples from underground faces, and channel samples from blasted rock in the open pit for grade control purposes. The Storheden and Norrberget satellite deposits have been evaluated using DD core and RC samples only.
The Mineral Resource estimation (MRE) databases include samples collected by various operators from 1986 to 30 September 2024. Any sample types considered not to have acceptable sample quality and representativity are excluded from the MRE. This includes Bjorkdal sludge samples from development drilling, direct circulation samples from historical open pit grade control drilling and samples with lengths less than 0.1 m.
The below commentary captures the main sampling techniques used since acquisition of the project by Mandalay Resources (now Alkane Resources) in 2014. As of 30 September 2024, the company had completed a total of 420 km of DD core and 120 km of RC drilling.
- Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. DD - meterage markers are placed in the core tray at the end of each recovered drill run. Upon receipt at the Bjorkdal on-site core processing facility, the core is oriented, measured to check meterage and each core box marked with meterage values. Selective whole core sampling is typically employed, with sample intervals determined by the logging geologist, to encompass potential mineralisation and honour geological contacts. Minimum sample lengths ensure reasonable minimum sample weights for a given core diameter.
RC - drill cuttings are dropped out of the cyclone into a riffle or rotary splitter at the completion of a 1 m drilling interval, to generate a homogenous 3 to 4 kg sample.
CH - after geologists mark up the area to be sampled, the sampler uses a hammer and bucket to collect chips from shoulder to knee height and across the entire face for a combined 5 kg sample.
- Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Samples are prepared and analysed by the CRS laboratory in Kempele, Finland (exploration DD) or the Bjorkdal on-site laboratory currently operated by CRS (resource development and production DD, RC samples and chip/channel samples from underground faces). CRS is certified according to ISO 9001:2008 and accredited by FINAS Finnish Accreditation Service, ISO 17025:2017 (T342).Samples are dried, crushed to >70% passing 2 mm and split to a 500 g sub-sample. As part of the PAL1000 analytical method, the sub-sample is then pulverized (typically to more than 90% < 75 um) and simultaneously leached with cyanide, with the solution analysed for gold by atomic absorption spectroscopy (AAS). The PAL1000 method is considered suitable for deposits with coarse or particulate gold and, in the case of Bjorkdal, should provide a reduction in sampling errors over fire assay techniques.
Drilling techniques - Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drilling techniques include surface and underground wireline diamond core drilling methods. Exploration DD is typically carried out by drilling contractors using standard wireline drilling equipment and a range of core sizes including WL66 (50.5 mm core diameter), NQ2 (50.7 mm core diameter), and WL76 (57.5 mm core diameter). Core orientation tools are used on all exploration diamond drillholes. Production and development optimisation holes are primarily drilled with Mandalay-owned and operated underground wireline drill rigs using smaller core diameters (28.8 to 39 mm).
RC drilling has been used for near-surface exploration and open pit grade control drilling, with 5 to 5.5 inch diameter face sampling hammer and 3 to 6 m drill rods.
Drill sample recovery - Method of recording and assessing core and chip sample recoveries and results assessed. DD - core recovery is recorded by the drillers on markers at the end of each drill run and checked against measurements of the core by the logging geologist.
RC - sample weights are checked for selected sample intervals and monitored against the expected sample weight.
- Measures taken to maximise sample recovery and ensure representative nature of the samples. DD - drillers adjust the rate of drilling and method if recovery issues arise. Core recovery values are generally more than 95%.
RC - a booster compressor is used to maintain dry samples and sample return for deeper drillholes.
- Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no known relationship between sample recovery and grade.
Logging - Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Logging data is captured directly into a local GeoSpark database, to ensure entered data is restricted to a valid range of accepted codes. Geological data collected describes the lithology, alteration, veining, structures and geotechnical features of the rock. Logging procedures are considered sufficiently detailed to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
- Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Logging is qualitative or quantitative depending on the variable being captured. Digital photographs are taken of wet drill core and on-vein development headings prior to sampling.
- The total length and percentage of the relevant intersections logged. All drillhole intersections are logged by qualified geologists.
Sub-sampling techniques and sample preparation - If core, whether cut or sawn and whether quarter, half or all core taken. Whole core sampling is typically employed for DD samples.
- If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. RC samples are split using a riffle or rotary splitter. A booster compressor is used to maintain dry samples for deeper drillholes.
- For all sample types, the nature, quality and appropriateness of the sample preparation technique. Samples are oven dried, crushed to >70% passing 2 mm using a jaw crusher and split to a 500 g sub-sample using a rotary splitter or rotating sample divider. This is considered an appropriate preparation workflow to deliver representative sub-samples for analysis.
- Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. All equipment is cleaned by pressurized air after every sample, with the crusher cleaned with blank stones between batches. Regular sieve tests are completed to monitor particle size.
- Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Select batches of coarse reject duplicates have been completed for DD core and underground chip/channel samples in 2023 and 2024. No clear, consistent bias between the original and duplicate sample is observed.
- Whether sample sizes are appropriate to the grain size of the material being sampled. Sample sizes are considered appropriate for the mineralisation style.
Quality of assay data and laboratory tests - The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. In the PAL1000 analytical method, a 500 g sub-sample is pulverized (typically to more than 90%
The PAS1000 technique is partial and determines the cyanide-soluble gold in samples. Checks have been conducted on residue material remaining after PAL assaying to confirm the completeness of the digestion stage and the transfer of gold to solution. The checks typically demonstrate that Bjorkdal mineralisation behaves well with this method and returns residue values of 0.6 to 1 % of the reported gold assay value.
- For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical tools are used to analyse the samples.
- Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Since 2014, QAQC protocols have included regular insertion of blanks and certified reference materials (CRMs) within each 20-sample batch, with additional blank samples inserted after samples containing visible gold. QAQC failures result in re-assaying of portions of the affected sample batches. CRM and blank results indicate acceptable levels of accuracy and no material contamination.
Select batches of coarse reject duplicates were completed for DD core and underground chip/channel samples in 2023 and 2024, showing no systematic bias and acceptable levels of precision in sample preparation and analysis.
Laboratory QAQC includes blank tests throughout the PAL1000 procedure, with the AAS finish checked against standard solutions of known gold grades.
Verification of sampling and assaying - The verification of significant intersections by either independent or alternative company personnel. Drillhole data is compiled and reviewed by senior site personnel.
SLR have completed data verification during site visits including visual review of mineralised intersections, spot checks between database assay tables and original laboratory certificates. No check samples were taken by the SLR CP to independently confirm the presence of gold mineralisation, as the site has a long history of gold production, and the presence of gold was directly observed during the visit to the processing plant.
- The use of twinned holes.
Copyright (C) 2026 GLOBE NEWSWIRE. All rights reserved.
