PERTH, Australia, July 13, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) ('Alkane' or 'the Company') is pleased to announce the latest exploration results for extension and infill drilling of the Brunswick South deposit, located 400m south of the previously mined Brunswick vein and 200m from planned underground access at its Costerfield Operation in central Victoria, Australia.
Program Summary
An additional 91 holes targeting the Brunswick South deposit have been drilled since Alkane's previous update (ASX announcement 15 October 2025 titled 'Costerfield Resource and Reserve Statement)
Confidence in grade continuity has been supported by the drilling with the identification of a high antimony and gold grade connection between the recently discovered gold dominant zone at depth and the historical surface workings.
Drilling is continuing to identify extensions to the deeper gold dominant zone (Kiwi zone) with recent geological interpretation indicating the setting for mineralisation is similar to that of the Youle deposit currently being mined.
Additionally, parallel veining has been intercepted approximately 200m to the west of Brunswick South with follow-up drilling scheduled to commence shortly.
An updated Mineral Resource Estimation with initial Ore Reserve is due to be released later in the year.
Brunswick South Assay Highlights
Brunswick South Vein:
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50.1g/t gold and 26.2% antimony over 2.17m (ETW 1.08m) in BD468
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109.9g/t gold and 3.1% antimony over 0.65m (ETW 0.62m) in BD433
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50.2g/t gold and 33.3% antimony over 0.86m (ETW 0.62m) in BD424
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39.8g/t gold and 0.7% antimony over 1.3m (ETW 1.15m) in BD408
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25g/t gold and 0% antimony over 1.7m (ETW 1.64m) in BD513 (Kiwi zone)
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21.6g/t gold and 6.7% antimony over 1.65m (ETW 0.92m) in BD496
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Note. ETW refers to the estimated true width of the veining.
Alkane Managing Director & CEO, Nic Earner, said:
"Focused extension and infill drilling at Brunswick South over the previous year has produced highly encouraging results. This newly defined deposit not only contains pockets of high gold endowment, but critically a significant quantity of antimony. Excitingly Brunswick South can be brought online without extensive access requirements as it is situated 200m from existing development. We are commencing development towards Brunswick South in the current quarter and are looking to establish it as a primary production source for Costerfield."
Costerfield Gold-Antimony Field
Alkane Resources Ltd 100%
The Costerfield gold-antimony deposit was discovered in 1861, antimony having been already identified in the district as early as 1853 as prospectors attracted to the McIvor (Heathcote) alluvial gold rush began to explore the surrounding hills for the primary deposits. Several lodes along a 3km corridor were rapidly opened up, the bulk of historical production coming from leases at the northern end of the field; the Costerfield (Main), Bombay and Minerva mines. Production from these mines primarily took place in two phases, between 1861-1883 and 1903-1924, and a short-lived attempt at redeveloping the mine occurred between 1933-1939.