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- Alkane Resources (ALK) receives further results from a drilling program at its Northern Molong Porphyry project in New South Wales
- The company has received results from the Korridor and Kaiser prospects, with up to 1.10 g/t gold and 0.83 per cent copper intersected
- The results received confirm extensive gold-copper mineralisation with further drilling planned to test the mineralised extensions
- The results from Kaiser will be included in a maiden JORC resource estimate for the prospect, which is expected to be released in Q1 2023
- Alkane is up 1.92 per cent on the market, with shares trading at 66.3 cents at 1:04 pm AEDT
Alkane Resources (ALK) has received further results from a drilling program at its Northern Molong Porphyry project in NSW.
Results have been received from one diamond hole drilled at the Korridor prospect, confirming extensive gold-copper porphyry mineralisation.
Results include 1041 metres at 0.57 grams per tonne (g/t) gold equivalent (0.32g/t gold and 0.17 per cent copper) from 698 metres, including 55 metres at 0.82 g/t gold equivalent from 1516 metres.
Further drilling has been planned to outline the northwest extension of the mineralisation to add to the project’s mineral resource estimate.
Meanwhile, Alkane has also received results for recently-completed drilling at the Kaiser prospect that show significant copper-gold porphyry mineralisation in the northwest.
Better results include 320 metres at 0.56 g/t gold equivalent from 505 metres, including 12 metres at 2.30 g/t gold equivalent from 509 metres.
Final assays from Kaiser are expected next month.
“The drill results at Korridor confirm that extensive gold-copper porphyry mineralisation continues northwest of the Boda resource,” Managing Director Nic Earner said.
“The initial shallow resource drilling program at Kaiser is now complete, we expect to receive results over the next two months and complete our initial JORC resource estimation for Kaiser in Q1 2023.
“Whilst we wait for better weather to allow access to some areas, we have our drills working at Boda Two and Three to both improve our geological understanding and continue to assess its potential for an economic resource.”
Alkane was up 1.92 per cent on the market, with shares trading at 66.3 cents at 1:04 pm AEDT.
