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- Recent drilling at Alkane Resources’ (ALK) Northern Molong gold-copper project has significantly expanded the mineralised footprint
- The most recent results come from around 6800 metres of drilling, aimed at testing depth and strike extensions at the Boda prospect
- The Boda target zone has virtually doubled, with indications of a porphyry system over 400 metres wide, 1000 metres long, and 1100 metres deep
- The company is confident of the potential for a large tonnage gold-copper porphyry district to be defined
- A second diamond rig has been mobilised to site to continue the step out and infill drilling at Boda, and to test the Kaiser and Boda Two prospects
- Alkane Resources is trading 6.14 per cent lower for $1.30
Recent drilling at Alkane Resources (ALK) Northern Molong Porphyry Project (NMPP) has significantly expanded the mineralised footprint.
Emerging system
The most recent results come from around 6800 metres of drilling, aimed at testing depth and strike extensions at the Boda prospect.
Programs of reverse circulation (RC) and diamond drilling have extended the known mineralised zone to the north and south, as well as at depth.
The step-out drilling is too widely-spaced to be sure if the new intersections are extensions to the known porphyry unit or a separate system.
Alkane Managing Director Nic Earner says Boda is developing nicely.
“The Boda prospect just keeps getting bigger and bigger,” Nic said.
“We have extended the mineralisation to the north and, to the south, we have either an extension or a whole new system emerging,” he continued.
“We believe Boda is shaping up to be a large, tier one gold-copper porphyry project.”
Alkane Managing Director Nic Earner
The recent drilling has virtually doubled the size of the Boda target zone, with indications of a porphyry system 400 metres wide and over 1,000 metres long north to south, and stretching more than 1100 metres vertically.
On diamond hole 500 metres to the south of the original Boda intersections yielded significant results, including 292 metres at 0.66 grams per tonne (g/t) gold equivalent (0.64g/t gold and 0.02 per cent copper) from 867 metres.
Other holes also encountered significant mineralisation, grading as high as 2.15g/t across shorter intervals.
Next steps
Alkane will continue the greater 30,000-metre drill program it began in July.
A second diamond rig has been mobilised to site to continue the step out and infill drilling at Boda, and will also move on to test the strong conductive induced polarisation anomaly at the Kaiser prospect and other targets at the Boda Two prospect.
The Alkane MD is confident in the potential for a large tonnage gold-copper porphyry district to be defined.
“We’ve mobilised a second diamond drill rig to site and we are currently targeting the identified high-grade areas, infilling the very long and deep mineralised system and testing identified anomalies at Kaiser and, further to the south of Boda, an area about five kilometres in length,” Nic said.
“We anticipate being able to report the next round of results from this campaign in late December this year,” he concluded.
Alkane Resources is trading 6.14 per cent lower for $1.30 at 10:38am AEDT.
