- Drilling at Alkane Resources’ (ALK) Kaiser Prospect within the Northern Molong Porphyry Project in NSW has intersected significant gold and copper mineralisation
- Diamond core hole KSDD027, within Kaiser’s Duke zone, intersected two zones of gold-copper porphyry mineralisation
- Results include 360 metres at 0.38g/t gold and 0.15 per cent copper from zero meters, including seven metres at 0.9g/t gold and 0.26 per cent copper from 119 metres
- The company says drilling at the zone suggests the area is around 250 metres wide, striking over 800 metres and open along strike and at depth
- Further assay results are expected in April 2021
- Alkane is steady at 68 cents per share in early morning trade
Alkane Resources’ (ALK) latest drilling campaign has intersected significant gold-copper mineralisation at the Kaiser Prospect in the Northern Molong Porphyry Project in NSW.
Kaiser is located 1.5 kilometres northwest of Alkane’s other resource, the Boda porphyry discovery, within an open four-kilometre northwest-trending structural corridor, hosting extensive alteration and gold-copper mineralisation.
Alkane first began a major reverse circulation and diamond core drilling program in July 2020, stretching across 30,000 meters. The program was designed to test the dimensions and extensions to the large low-grade mineralised envelope, as well as internal high-grade zones at Boda.
More recently, diamond core hole KSDD027 at Kaiser intersected two zones of gold-copper porphyry mineralisation with grades and alteration similar to those found at Boda.
Drilling at the hole aimed to test a conductive IP anomaly within the Duke zone on the north-eastern flank of the Kaiser porphyry-style mineralisation within the prospect. The Duke zone is characterised as a collection of monzodiorite to diorite intrusions hosted in mafic-andesite lavas.
Significant results from the Duke zone include 360 metres at 0.38g/t gold and 0.15 per cent copper from zero meters, including seven metres at 0.9g/t gold and 0.26 per cent copper from 119 metres.
More broadly, the company says drilling over the zone suggests the area is around 250 metres wide, striking over 800 metres and open along strike and at depth.
“Our drilling program is revealing the emergence of an extensive mineralised system across Boda and Kaiser, consistent with our geological interpretation,” said Alkane’s Managing Director, Nic Earner.
Drilling has also continued at Boda, testing the southern extensions of the mineralised system, together with step-out drilling from KSDD022 at Boda Two. The drilling has continued to intersect extensive zones of gold-copper mineralisation.
“Our drill program is revealing not only the very large scale of Boda, but potential repeat systems of significant scale within a structural corridor. These results give us added confidence to pursue our drilling campaign as we seek to identify what could potentially be a series of substantial deposits across our Northern Molong Porphory Project”.
Further assay results are expected in April 2021.
Alkane is steady at 68 cents per share at 10:20 am AEDT.