- Alkane Resources (ALK) begins a maiden mineral resource estimate (MRE) for the Boda gold-copper prospect within its Northern Molong porphyry project in New South Wales
- The company expects to complete the MRE for the central zone of gold-copper mineralisation at Boda next month
- Alkane’s recently completed first stage of resource drilling at the prospect delineated gold-copper mineralisation centred around a 500m by 300m vertically extensive intrusive monzodiorite breccia stock, within a larger mineralised alteration zone
- Managing Director Nic Earner says completion of the resource drilling program is a major milestone for the company as it considers options for Boda
- ALK shares up 5.07 per cent to $1.14
Alkane Resources (ALK) has begun a maiden mineral resource estimate (MRE) for the Boda gold-copper prospect within its Northern Molong porphyry project in New South Wales.
The company says it expects to complete the MRE for the central zone of gold-copper mineralisation at Boda next month.
Alkane recently received assay results for the final 10 holes of its first stage of resource drilling at the prospect.
The drilling program delineated gold-copper mineralisation centred around a 500-metre by 300m vertically extensive intrusive monzodiorite breccia stock, within a larger mineralised alteration zone.
The Boda system appears to plunge and remains open to the north-west at depth, according to the company.
“Completion of the resource drilling program is a major milestone for us as we consider our options for Boda,” Alkane Managing Director Nic Earner said.
“We have a significant volume of data to work with, which will allow us to finalise the initial Boda resource in April.
“We are also well advanced in a shallower drilling program at Kaiser-Duke that may enable an initial resource to be confirmed there.
“Alkane is planning further drilling in the north-west corridor of the Boda-Kaiser-Duke complex and will also be targeting higher-grade zones at Boda Two and Three.”
About 30,000m of initial broad spaced drilling has been undertaken at Boda Two and Three, with further drilling planned.
Reverse circulation drilling is also progressing at the nearby Kaiser-Duke prospect in the quest for the separate initial MRE of the near-surface material.
Alkane also operates the nearby Tomingley gold operations.
ALK shares were up 5.07 per cent to $1.14 at 1:42 pm AEDT.