Alkane Lifts Storheden Gold Resource 26% to 212koz After High-Grade Swedish Hits
Alkane lifts Storheden resource 26% with high-grade Swedish gold hits
Alkane Resources has significantly increased the Mineral Resource at its Storheden gold deposit, part of the Björkdal Operation in northern Sweden, following a successful drilling campaign. The updated resource now includes maiden Indicated Resources of 1,075 kt at 2.51 g/t Au (87 koz) plus Inferred Resources of 1,846 kt at 2.11 g/t Au (125 koz). Total contained gold now sits at 212 koz across both categories, with Inferred contained gold up approximately 26% from the prior 99 koz. Storheden’s resource has been classified to Indicated for the first time. The announcement is dated 29 July 2026.
When big ASX news breaks, our subscribers know first
Inside the resource upgrade: what the numbers show
The resource composition reflects the incorporation of 28 additional diamond drill holes (14,061 m) from the 2025 program and early 2026, plus a refined geological model of 74 mineralised wireframes. Improved confidence in geometry and continuity enabled a portion of the resource to convert to Indicated classification.
The resource parameters include: gold price of US$3,100/oz, exchange rate of 10.0 SEK/US$, cut-off grade 0.65 g/t Au, effective date 7 June 2026. Full detail will follow in the annual NI 43-101 Björkdal Technical Report in September 2026.
| Category | Tonnes (kt) | Grade (g/t Au) | Contained Gold (koz) |
|---|---|---|---|
| Indicated | 1,075 | 2.51 | 87 |
| Inferred | 1,846 | 2.11 | 125 |
| Previous Inferred (Oct 2025) | 1,770 | 1.74 | 99 |
The table illustrates the ~26% Inferred gold lift and the new Indicated category.
Standout drill hits highlight the high-grade potential
The assay highlights from the 16 extensional diamond holes (7,965 m) completed January–March 2026, focused on Target Zones A and B, extended high-grade mineralisation 450 m along strike to the east. Mineralisation remains open to the west, east and at depth.
Standout intercepts include:
- 107.0 g/t Au over 0.4 m (ETW 0.35 m) — SH26-011
- 50.9 g/t Au over 0.95 m (ETW 0.82 m) — SH26-010
- 39.2 g/t Au over 0.6 m (ETW 0.46 m) — SH26-010
- 36.1 g/t Au over 0.5 m (ETW 0.35 m) — SH26-004
- 27.4 g/t Au over 0.70 m (ETW 0.49 m) — SH26-012
Visible gold occurred in multiple veins. Target Zone B (SH26-013/014) returned encouraging visible-gold intercepts, though not yet sufficient to define a resource there. Management has flagged this as a follow-up target.
Nic Earner, Managing Director & CEO
“Storheden represents an exciting new growth prospect at Björkdal. The positive drilling results of this latest campaign begin to demonstrate the scale of the deposit, with the extent and depth continuity still unknown and open. Additionally, portions of the Mineral Resource have now been drilled to a density sufficient to estimate Indicated Resource. Encouraged by continued positive results coupled with the potential Storheden provides, Alkane will continue to define the extents of the deposit and lift confidence in resources alongside the commencement of mine development to Storheden and the progression of permitting requirements for extraction.”
Why orogenic gold deposits matter
Storhoden is classified as a mesothermal orogenic gold deposit. This means gold is hosted in quartz veins formed by hot mineralising fluids moving through structural zones deep in the earth’s crust. The “open in all directions” concept signals resource growth potential beyond the currently defined 2.7 km strike length and 464 m depth.
Storheden sits just ~700 m north of the operating Björkdal mine, meaning any resource conversion can leverage existing infrastructure. This provides a lower-cost path to potential production versus a standalone greenfield discovery. Management sees structural similarities between Storheden and Björkdal, which has produced ~1.69 Moz since 1988, suggesting Storheden could follow a comparable mineralisation model at depth.
The growth roadmap: drilling, development and next catalysts
Forward catalysts include:
- FY2027 surface drilling — an initial 10,000 m planned to grow the resource and define the system’s limits.
- Underground exploration drive — development scheduled to commence September 2026, providing a platform for depth-testing, infill drilling and supporting potential future production.
- NI 43-101 Technical Report — full resource detail due September 2026.
- Permitting — progression of extraction permitting requirements underway.
Storheden demonstrates economic mineralisation can exist outside the marble horizon that hosts Björkdal and Norrberget, opening broader satellite-deposit potential across Alkane’s Skellefte district permits.
The next major ASX story will hit our subscribers first
The investment takeaway
Alkane Resources is an Australia-based gold and antimony producer operating three mines (Tomingley NSW, Costerfield VIC, Björkdal Sweden) with a stated strong balance sheet. Storheden positions as a near-mine growth engine that could extend Björkdal’s mine life without the cost of a new processing hub. Rising grade, rising ounces, a new Indicated classification and a defined path toward development all point to a deposit still in its early growth phase.
Want the Next ASX Gold Discovery in Your Inbox?
Join 30,000+ investors getting FREE breaking ASX gold news delivered within minutes of release, complete with in-depth analysis. Big News Blast alerts arrive the moment market-moving announcements drop. Click the “Free Alerts” button to stay ahead on every major ASX gold development.