Join our daily newsletter At The Bell to receive exclusive market insights
- Alkane Resources (ALK) reports “significant” gold-porphyry mineralisation from the last set of drill results from its Kaiser prospect in New South Wales
- The prospect lies one kilometre from the 5.2 million-ounce Boda inferred resource within Alkane’s Northern Molong porphyry project
- New assays include 447 metres at 0.46 grams per tonne (g/t) gold equivalent (gold and copper) from 78 metres
- Alkane plans to use the results from this program to complete a maiden mineral resource estimate for Kaiser in the first quarter of 2023
- ALK shares are up 1.2 per cent to trade at 64 cents at 2:07 pm AEDT
Alkane Resources (ALK) has reported “significant” gold-porphyry mineralisation from the last set of drill results from its Kaiser prospect in New South Wales.
The Kaiser Prospect and other areas within Alkane’s Northern Molong porphyry project have been subject to a drilling program that extended over three kilometres.
Kaiser lies one kilometre northwest of the Boda inferred resource area of 5.2 million ounces.
Highlighted results from the final batch of assays include 447 metres at 0.46 grams per tonne (g/t) gold equivalent (gold and copper) from 78 metres, including 32 metres at 1.28 g/t gold equivalent from 309 metres.
The company said other results confirmed the northwest section of Kaiser as being more “copper-rich”. These results include 126 metres at 0.56 g/t gold equivalent (0.21 per cent copper and 0.26 g/t gold) from 515 metres, including 20.3 metres at 1.26 g/t gold equivalent (0.46 per cent copper and 0.59 g/t gold) from 521.1 metres.
“We are pleased to see continued consistency in the final drill results from the initial shallow resource drilling program at Kaiser,” Managing Director Nic Earner said.
Now that final results have been received, Alkane plans to complete a maiden JORC mineral resource estimate for Kaiser in the first quarter of 2023.
The company is also drilling at Boda and the Boda Two and Three prospects to test extensions to mineralisation.
ALK shares were up 1.2 per cent to trade at 64 cents at 2:07 pm AEDT.
