Alkane's 'True Blue' Find: More Than Gold, A Strategic Win for Australia

PERTH, AU – July 06, 2026 – In the rolling hills of central Victoria, a story of modern discovery is unfolding upon a landscape rich with history. Alkane Resources Limited (ASX: ALK) recently announced a significant milestone in its exploration of the True Blue deposit at its Costerfield Operation, revealing high-grade intercepts of both gold and a far more strategic, though lesser-known, mineral: antimony. While the impressive assay results naturally excite investors, the true significance of this find extends far beyond the company's ledger. It speaks to a nuanced intersection of technical innovation, national strategic interest, and sustained community wellbeing.

The update, stemming from an intensive program of 33 drill holes, has provided what Alkane's Managing Director & CEO, Nic Earner, calls the "geological confidence needed to proceed with our plans for development." Highlights from the drilling, such as an intercept of 84.1 grams per tonne (g/t) gold and 15.4% antimony, are not just numbers on a page; they are data points that transform a prospect into a tangible future. They represent the meticulous work that underpins sustainable growth and de-risks the path forward, offering a clear lens on how dedicated investment amplifies positive impact.

From Prospect to Plan: The Power of Confidence

In the world of resource exploration, confidence is the most valuable commodity. Alkane's recent infill drilling program at True Blue was designed to build exactly that. By methodically drilling the upper portions of the deposit, the company's geologists have moved from a broad interpretation to a high-resolution model of the complex vein systems that host the gold and antimony. This isn't just an academic exercise; it's the foundational work required to design an efficient and safe mining operation, ensuring that the development of this resource is both economically viable and technically sound.

This success is built upon a foundation of strong operational performance. Alkane's Costerfield mine has become a cornerstone of its portfolio, helping the company achieve record gold equivalent sales of 43,373 ounces and revenue of $274 million in the March 2026 quarter alone. With a formidable $374 million in cash, bullion, and investments, Alkane is not just exploring; it is investing from a position of strength. This financial stability allows for the kind of patient, systematic exploration seen at True Blue, where the goal is not a short-term headline but the long-term extension of the mine's life. The successful drilling provides a clear pathway to update and likely expand the deposit's resource estimate, promising to keep the Costerfield operation a vital economic engine for years to come.

Beyond the Gold Rush: Securing a Critical Future

While gold has captured human imagination for millennia, the other mineral at True Blue—antimony—is arguably more critical to our modern way of life. Classified as a critical mineral by Australia, the United States, and the European Union, antimony is essential in everything from flame retardants in electronics and textiles to advanced semiconductors, night vision goggles, and high-strength alloys used in defense. It is a linchpin of our technological and security infrastructure.

For decades, the global supply of antimony has been dominated by China, which has created significant supply chain vulnerabilities for Western nations. This is where the Costerfield operation's success becomes a matter of national importance. As a reliable producer in a stable jurisdiction, Alkane's Costerfield mine is a key part of Australia's strategy to become a secure supplier of the minerals that will power the future. Every tonne of antimony concentrate shipped from Costerfield helps diversify a precarious global market and strengthens our collective resilience. The potential expansion at True Blue doesn't just promise more gold; it promises a greater supply of a resource essential for our shared security and technological advancement.

A Legacy Reimagined: Fueling Regional Prosperity

The Costerfield gold-antimony field is not a new discovery. Its history stretches back to the 1860s, a testament to the region's enduring mineral wealth. But what Alkane is doing represents a new chapter in this long story. Where 19th-century prospectors worked the surface, modern technology and a deep geological understanding are unlocking value deep underground, ensuring this historic field continues to contribute to the region's prosperity.

This is where institutional innovation meets community support. A successful and long-lived mining operation provides stable, high-skilled jobs and injects significant investment into the local economy through partnerships with suppliers and contractors. Alkane's commitment to the Heathcote and Greater Bendigo communities, demonstrated through its Community Hub and sponsorship programs, shows an understanding that a company's social license is as important as its mining license. The success at True Blue is not just Alkane's to celebrate; it is a win for the entire region, promising continued economic activity and a partnership grounded in a shared vision for a prosperous future. The future exploration plans, targeting extensions to the north, south, and at depth, signal a long-term commitment to the area, ensuring that the legacy of Costerfield is one of ongoing growth and shared benefit.

This is the "why" behind effective service and investment. It's the story of how a single exploration update can resonate outward, touching on themes of economic stability, strategic security, and community strength. It is a powerful example of how a forward-thinking organization can unearth not just valuable minerals, but a more connected and equitable future.