- Alkane Resources (ALK) is releasing the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales
- In July 2020, the company began a major reverse circulation and diamond drilling program to test the dimensions and extensions to the large mineralised envelope
- Assays have been received from the Boda, Boda Two, Boda Three and Kaiser prospects with grades peaking at 18.6g/t gold and 1.70 per cent copper
- Further drilling and downhole electromagnetic surveys will now be undertaken at the company’s prospects
- Shares in Alkane are down 2.15 per cent on the market and are trading at 91 cents
Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
In July 2020, Alkane began a major reverse circulation (RC) and diamond drilling program to test the dimensions and extensions to the large mineralised envelope.
In addition, drilling is testing other known gold-copper mineralisation occurrences and co-incident induced polarisation (IP) anomalies.
Assays have been received for 11 RC and eight diamond holes drilled across the Boda, Boda Two, Boda Three and Kaiser prospects.
Boda
Drilling at Boda tested the northwest-trending mineralisation and results have been received for three RC and four diamond holes.
Best results include 11 metres at 2.88 grams of gold per tonne (g/t) and 1.03 per cent copper from 622 metres including one metre at 18.6g/t gold and 1.70 per cent copper from 627 metres.
Due to continuous border closures, downhole electromagnetic surveying has been delayed to late 2021.
Kaiser
Three diamond and one RC hole were drilled at Kaiser to target the Duke Zone which shows similarities to Boda.
Overall, grades peaked at 4.94g/t gold, 0.40 per cent copper and 171 parts per million (ppm) molybdenum.
Drilling is continuing to intersect similar gold-copper grades commonly identified at Boda.
Boda Two and Three
Drilling is continuing to test the interpreted north-south-striking mineralisation at Boda Two and Boda Three.
Assays have been received for five RC and one diamond hole for a total of 2953 metres.
Best results include 32 metres at 0.09g/t gold and 0.11 per cent copper from 332 metres including two metres at 0.53g/t gold and 0.33 per cent copper from 357 metres.
Drilling to date continues to identify broad gold-copper mineralisation associated with weakly developed hydrothermal breccias.
Alkane will target these breccias with a second phase of drilling next year.
Managing Director Nic Earner commented on the results.
“Our systematic evaluation of Boda continues to deliver results. The mineralised system is growing, as is our understanding the nearby Duke and Kaiser deposits,” Mr Earner said.
“The information we are gathering is expected to put us in a position to declare a maiden resource estimate for Boda in the first quarter of 2022.”
Shares in Alkane were down 2.15 per cent on the market and were trading at 91 cents at 11:44 am AEDT.