Alkane Resources Ltd (ASX:ALK) has confirmed large targets containing copper, zinc, lead and silver at its Rockley project in New South Wales as a result of recent reverse circulation (RC) scout drilling which built on previous geophysics work.
The former comprised seven ‘slimline’ RC drill holes which targeted multi-element and
multi-point soil and rock chip geochemical anomalies and/or historical workings. From these, six of the seven holes intersected skarn mineralisation containing copper-zinc-lead-silver (Cu-Zn-Pb-Ag).
Assays included 62 metres grading 0.12% Cu, 0.39% Zn, 4.0 grams per tonne (g/t) Ag from 6 metres; including 3 metres at 0.44% Cu, 0.64% Zn, 0.34% Pb, 0.14g/t Au, 29.8g/t Ag from 20 metres; as well as 3 metres grading 0.11% Cu, 1.33% Zn, 5.4g/t Ag from 65 metres.
Several prospects had already been identified through greenfield exploration across one tenement of the project – located in the state’s central west – including airborne electromagnetic survey (AEM), followed up with ground fixed loop EM over two of these targets.
Additionally, widespread calc-silicate alteration and Cu-Zn-Pb-Ag skarn mineralisation has been confirmed through soil geochemistry and rock chip sampling over an irregularly shaped magnetic feature measuring more than 1 square kilometre.
Managing Director, Nic Earner, said the results were promising, particularly given the project’s geophysical setting on the Late Silurian Mumbil Group – a sequence considered highly prospective for base metal and gold mineralisation forming as volcanogenic massive sulphide (VMS) or skarn type deposits.
“Alkane’s exploration team is using its considerable experience to advance exploration on another of our tenement packages, the Rockley Project,” he said.
“We’re looking for large VMS or skarn-type deposits that contain gold or base metals, particularly copper.
“These results are encouraging; we have identified multiple occurrences of mineralisation and have several large targets within the Project area. We will conduct further scout drilling on the most prospective of these targets in the coming months.”
Alkane has been trading at 43.5 cents.