- Alkane Resources (ALK) intersects further high-grade mineralisation at its Boda Prospect in New South Wales
- Drilling began in July 2020 to test the dimensions and extensions to the mineralised envelope as well as test known gold-copper occurrences
- Overall, grades peaked at 9.43 grams of gold per tonne (g/t), 2.65 per cent copper and 8g/t silver
- Drilling was also undertaken at the Boda Two Prospect with grades peaking 1.14g/t gold and 0.30 per cent copper
- Alkane is down 2.90 per cent on the market with shares trading at $1.01 at 12:05 pm AEST
Alkane Resources (ALK) has intersected further high-grade mineralisation at its Boda Prospect in New South Wales (NSW).
Boda lies within the Northern Molong Porphyry Project which is highly prospective for large-scale porphyry and gold-copper deposits.
Reverse circulation (RC) and diamond drilling began in July 2020 to test the dimensions and extensions to the mineralised envelope.
Additionally, drilling is testing known gold-copper mineralisation occurrences and co-incident induced polarisation (IP) anomalies.
New results include 31 metres at 2.94 grams of gold per tonne (g/t) and 0.97 per cent copper from surface including nine metres at 9.43g/t gold, 2.65 per cent copper and 8g/t silver from surface.
An electrical geophysics survey was also completed over a six kilometre-long north-south target corridor at the Boda Two Prospect.
Results have been received for a diamond hole drilled to test the southern extensions of the prospect.
Best results include 995 metres at 0.19g/t gold and 0.12 per cent copper from 322 metres including eight metres at 1.14g/t gold and 0.30 per cent copper from 894 metres.
Drilling to date at Boda Two has identified an extensive zone of low-grade gold-copper porphyry mineralisation.
Further drilling is now underway to continue to define the size and scope of the mineralisation and any potential high-grade zones.
Managing Director Nic Earner commented on the drilling program.
“The high-grade breccia zone at surface not only further emphasises the large vertical depth of the system, but also gives rise to considering open cut as a potential mining method at Boda,” Mr Earner said.
“We’re continuing our exploration program across the Porphyry Project, and we are planning a further 60,000 metres of drilling over the coming financial year.
“This substantial exploration program is designed to continue defining the internal high-grade zones within the extensive low-grade mineralised envelopes at Boda, Boda Two and Kaiser prospects, as well as testing the corridor between the Boda and Kaiser targets.”
Alkane was down 2.90 per cent on the market with shares trading at $1.01 at 12:05 pm AEST.