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  • Alkane Resources (ALK) receives the initial results from the reverse circulation (RC) drilling program at the Kaiser Prospect in NSW
  • RC drilling began in February to estimate a shallow resource with drilling intersecting one metre at 11.05 g/t gold and 1.35 per cent copper from 75 metres
  • According to Managing Director Nic Earner, an initial resource estimate for Kaiser is expected to be released in the coming months
  • Results have also been received from two diamond holes drilled at the Boda Two prospect with up to 28.4 g/t gold and 0.28 per cent copper intersected
  • Alkane is up a slight 1.48 per cent on the market with shares trading at 68.5 cents at 11:39 am AEST

Alkane Resources (ALK) has received the initial results from the reverse circulation (RC) drilling program at the Kaiser prospect in NSW.

RC drilling began in February to estimate a shallow resource with drilling planned to a 300-metre depth and an 800-metre strike.

Best results come from hole KAI053 which intersected 177 metres at 0.32 grams per tonne (g/t) gold and 0.14 per cent copper from surface including one metre at 11.05 g/t gold and 1.35 per cent copper from 75 metres.

Drilling is nearing completion with a diamond core rig on site to drill selected RC holes to a greater depth.

Furthermore, a recently completed induced polarisation with magnetotelluric survey recently undertaken near Kaiser identified two priority targets that will be tested in the near future.

Results have also been received from two diamond holes drilled at the Boda Two prospect with up to 28.4 g/t gold and 0.28 per cent copper intersected.

A RC and diamond core infill program has been planned at Boda Two and Boda Three with work expected to begin in August, pending approvals.

“As anticipated, the RC drilling program at Kaiser is showing that mineralisation is both extensive and reaches the surface. Drilling at Kaiser continues, and an initial resource estimate is scheduled for preparation and release in the coming months,” Managing Director Nic Earner said.

“The team is also drilling south of the Boda resource at Boda Two and Three to follow up on the higher-grade mineralisation previously identified.

“These results build on the initial Boda resource released in May and are encouraging
confirmation that the Northern Molong porphyry project has significant potential yet to be
unlocked.”

Alkane was up a slight 1.48 per cent on the market with shares trading at 68.5 cents at 11:39 am AEST.

ALK by the numbers
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