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Alkane Resources (ASX: ALK) Boda Prospect width increases after drilling results
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  • Alkane Resources (ASX: ALK) drilling results have increased the porphyry gold-copper mineralisation width at the Boda Prospect
  • Boda was tested with one diamond core drill hole, 200 metres below a zone of gold-copper mineralisation, which was found in previous diamond drilling
  • The drilling is part of a 5,000-metre diamond core drilling exploration program that will test the depth and strike extensions
  • The company will continue to follow up drilling at the prospect
  • Alkane is up 9.05 per cent on the market this morning, trading for $1.09 per share

Alkane Resources (ASX: ALK) has received drilling results at its Boda Prospect in New South Wales.

Boda was tested with one diamond core drill hole, KSDD005, 200 metres below a zone of gold-copper mineralisation, which was previously defined in diamond drilling.

The current drilling results show an increase in the thickness of significant porphyry gold-copper mineralisation with depth.

Results include 689 metres 0.46g/t of gold, 0.19 per cent of copper from 402 metres and 312 metres at 0.70g/t of gold, 0.19 per cent of copper from 402 metres.

The drilling is part of a 5,000-metre diamond core drilling exploration program to test the depth and strike extensions to the mineralisation at Boda.

The Boda Prospect is located in Alkanes Northern Molong Porphyry Project (NMPP). It covers an area of 110 kilometres squared of the northern Molong Volcanic Belt (MVB), in the Central West of NSW.

MVB is known to have a large porphyry gold-copper mineralisation, as it is home to the world class Cadia Valley porphyry district, located 110 kilometres to the south.

“These drill results give us further encouragement that the Boda Prospect is a significant discovery," Managing Director Nic Earner said.

"The continuation of grade at depth and the consistency of mineralisation are further evidence of a big porphyry system," he added.

The company will continue to follow up drilling at the prospect and will update the market as more results come available.

Shareholders are happy with the result as Alkane is up 9.05 per cent on the market this morning, trading for $1.09 per share at 11:06am AEDT.

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