Alkane Resources (ASX:ALK) - Managing Director, Nic Earner
Managing Director, Nic Earner
Source: Alkane Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Alkane Resources (ALK) has intersected more high-grade gold-copper mineralisation at the Boda Prospect within the Northern Molong Porphyry Project in Central NSW
  • The gold-copper minerlisation has been outlined over a 3-kilometre strike between Boda Three and Kaiser, and ALK hopes to calculate a maiden resource for Boda next year
  • Drilling has focused on testing Boda Two, Boda Three and Kaiser as well as other regional targets, with best results of 11.2 grams per tonne (g/t) gold and 1.59 per cent copper
  • ALK will focus on testing the Kaiser prospect and its Duke Zone in January next year, while additional drilling and electro magnetic down hole surveying will continue at Boda
  • Shares in Alkane Resources are trading at 84 cents each

Alkane Resources (ALK) has intersected more high-grade gold-copper mineralisation at the Boda Prospect within its Northern Molong Porphyry Project in Central NSW.

The company, which already operates the Tomingley Gold Operations near Dubbo, believes Northern Molong has the potential of being a tier-one copper-gold project.

ALK has outlined gold-copper mineralisation over a 3-kilometre strike between Boda Three and Kaiser, in the so-called Korridor Prospect.

The material stock has been carrying out nominal drilling on a 50 metre by 100-metre drill hole grid sequence, as it looks to calculate a maiden resource for Boda in Q1, 2022.

Beyond testing the previously untouched Korridor prospect, drilling has also been focused on Boda Two, Boda Three and other regional targets.

Best grades returned in assaying include 11.2 grams per tonne (g/t) gold and 1.59 per cent copper.

Alkane Managing Director Nic Earner said the next steps will be to test the mineralisation to the northwest of Boda.

“These drill results show the extension of the high-grade system to the north west of Boda,” he said.

“With the gold-copper mineralisation at Korridor appearing to connect Kaiser to Boda, we’re looking at a system over 3km in length.”

The company will also test the Kaiser prospect, and its Duke Zone, in January next year, while electromagnetic downhole surveying will continue at Boda.

Shares in Alkane Resources were trading up 7.69 per cent at 84 cents each at 10:44 am AEDT.

ALK by the numbers
More From The Market Herald
BrainChip Holdings (ASX:BRN) -

" BrainChip (ASX:BRN) shares rise on another ‘breakout quarter’

BrainChip (ASX:BRN) has another "breakout quarter" for the three months leading up to December.

" Latin Resources (ASX:LRS) confirms Cloud Nine halloysite deposit ‘globally significant’

Latin Resources (ASX:LRS) confirms its Cloud Nine deposit in Western Australia is a "globally significant" halloysite…

" PolarX (ASX:PXX) gears up for fresh Nevada drilling program

Junior explorer PolarX (ASX:PXX) has today outlined its plans for a 3000-metre drilling program across its…

" Telix Pharmaceutical (ASX:TLX) first patient dosed in prostate cancer therapy program

Telix Pharmaceuticals Limited (ASX:TLX) has first patient dosed in its prostate-specific membrane antigen.