Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alkane Resources has discovered significant porphyry gold-copper mineralisation at its Boda Prospect
  • Significant mineralisation was also discovered at the Kaiser and Glen Hollow prospects
  • A detailed review of all data from the three prospects is now scheduled to determine the geology of all prospects

Alkane Resources has discovered significant porphyry gold-copper mineralisation at the Boda prospect in New South Wales.

Boda, which lies within the Northern Molong Porphyry project, is one of three exploration licences located in the project.

Exploration activity has established a geological framework which highlights strong similarities with the Newcrest’s Cadia district.

While it is more complex than Cadia, Alkane has been able to reconstruct the geology in the area and has shown that a stratigraphic sequence very similar to Cadia lies within the area.

A single diamond drill hole was drilled at the northern end of Boda to test the depth extent of gold mineralisation that was identified in reverse circulation drilling.

The diamond hole intersected a thick zone of gold-rich pyretic stringers from the top of hole and flowing down to a gold-rich chalcopyrite dominant core.

Two monzonite porphyries (rock with crystals) were intersected in the first 200 metres and intruded into more primitive volcaniclastics and lavas. These host the majority of potassic alteration.

It returned significant gold-copper porphyry mineralisation intercepts of 12 metres at 3.28g/t gold, 0.67 per cent copper from 419 metres, and 108 metres at 1.06g/t gold, 0.41 per cent copper from 408 metres.

The Boda mineralisation is open at depth and along strike and has a possible untested inner calc-potassium bornite rich core.

At the Kaiser prospect, five RC drill holes and a single diamond drill hole, for 1557 metres, were drilled to test an apparent east-west trending cross structure.

This structure transects the north-south trending Kaiser mineralisation at its southern extent.

The holes drilled are located approximately 1.5 kilometres northwest of the diamond hole at Boda and the results returned intercepts of significant porphyry style mineralisation.

Significant intercepts include 2 metres at 3.24g/t gold, 0.26 per cent copper from 25 metres, and 10 metres at 2.86g/t gold, 0.36 per cent copper from 0 metres.

3D modelling and further drilling is required to test this significant mineralisation of the gold-copper deposit.

At the final prospect, Glen Hollow, two RC drill holes were completed, for a total of 438 metres. These were designed to test geochemical anomalies outboard from the Comobella Intrusive Complex, which is located seven kilometres northwest of Kaiser.

Drilling demonstrated the continuation of significant porphyry mineralisation with a result of 42 metres at 0.27g/t gold, 0.19 per cent copper from 63 metres.

“These drill results suggest a significant and exciting discovery in a region that has a history of delivering large, low-grade and long-life gold-copper mines,” Managing Director Nic Earner said.

“The project are has already delivered some strong indications of a big porphyry system near surface at Kaiser and, along with the results from this diamond drill hole at Boda, we can see clear evidence of Cadia-style mineralisation and grade over hundreds of metres,” Nic continued.

A detailed review of all data from the three prospects is scheduled to determine the geology and alteration features identified elsewhere are being integrated to develop vectors to copper-gold mineralisation.

ALK by the numbers
More From The Market Herald
Vimy Resources (ASX:VMY) - Interim CEO, Steven Michael

" Vimy Resources (ASX:VMY) advances controversial Mulga Rock Uranium Project

Vimy Resources (VMY) has submitted a notification of ‘substantial commencement’ for the Mulga Rock Uranium Project in Western Australia.
Bardoc Gold (ASX:BDC) - CEO, Robert Ryan

" Bardoc Gold (ASX:BDC) confirms extensions of Zoroastrian deposit

Bardoc Gold (BDC) has announced most recent assay results from the Zoroastrian deposit within its namesake project “exceeded expectations”.
Albion Resources (ASX:ALB) - Executive Chairman, Colin Locke

" Albion Resources (ASX:ALB) intersects shallow lead-zinc mineralisation at Pillara East

Albion Resources (ALB) has intersected shallow zinc-lead mineralisation at the Pillara East target in Western Australia.
Breaker Resources (ASX:BRB) -

" Breaker Resources (ASX:BRB) sees further potential at Manna

Breaker Resources (BRB) has seen further potential for the Manna lithium prospect as a significant lithium discovery.