It is looking to use the Roswell and San Antonio deposits to the immediate south of the mine to extend its life.

On Thursday, managing director Nic Earner said the company was "excited to announce the planned extension of Tomingley mine life to beyond 2030".

"With existing underground and open-cut operations we are well placed to incorporate the new resources defined by Alkane's exploration team at the nearby Roswell and San Antonio deposits," he said.

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Mr Earner expects increased processing throughput and the ramping up of production to more than 100,000 ounces of gold per year by mid-2025.

"We expect to submit our environmental impact statement for project approval in the coming quarter and we are continuing consultation with interested stakeholders" he said.

Development of the Roswell and San Antonio deposits would require the diversion of the Newell Highway onto land which Alkane Resources now owns.

Alkane Resources expects the capital cost of extending the life of the mine to be about $87 million.

It will be funded from "operating cashflow and debt".

The company anticipates "project approval" in mid-2022.

Its mine at Tomingley has been producing gold since 2014.

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