Alkane Resources Limited (ASX: ALK) has confirmed zones of high-grade gold pyrite cemented breccia mineralization within extensive gold-copper porphyry mineralization from its drilling programme at the company’s Northern Molong Porphyry Project in Central New South Wales.
The programme extends over 3km from Kaiser, through Korridor and Boda, down to Boda Two and Boda Three. The company believes this system has the potential to be a large, tier one gold-copper project.
Alkane also operates the nearby Tomingley Gold Operations.
“These early results from the most recent phase of drilling at Boda Two confirm that large-scale mineralization continues to extend to the south of Boda. In addition, it appears that there are higher grade areas within the Boda Two system,” Managing Director, Nic Earner, said.
“These results are especially encouraging when viewed in combination with the recent maiden Kaiser resource to the north-west of the existing Boda resource. As we look to update and grow the collective resource base in and around Boda through the rest of 2023, it is exciting to have both a growing resource in Kaiser and Boda Two building extensive mineralization to the south.”
Northern Molong Porphyry Project (NMPP)
Alkane Resources Ltd 100%
The Project is located in central west NSW at the northern end of the Molong Volcanic Belt of the Macquarie Arc and is considered highly prospective for large scale porphyry and epithermal gold-copper deposits.
Exploration in the NMPP has identified five discrete magnetic/intrusive complexes – Kaiser, Boda, Comobella, Driell Creek and Finns Crossing – within a 15km northwest trending corridor. The corridor is defined by intermediate intrusives, lavas and breccias, extensive alteration and widespread, low-grade, gold-copper mineralization. Two significant gold-copper resources have now been defined within the corridor at Boda and Kaiser.
Drilling continues to improve the confidence of the Boda and Kaiser deposits and to test mineralized zones outside their resource envelopes.
Boda Two/Three Prospect
The Boda Two/Three prospect was originally defined by the coincident magnetic high Boda Intrusive Complex (BIC) and a gold-copper soil anomaly with an estimated 1,100m x 500m footprint.
The Boda Two prospect was further delineated by an electrical geophysics survey (3D-IP) that identified a strongly conductive target that was drill tested with KSDD022 intersecting substantial pyrite mineralization with significant gold grades of 292m @0.66g/t Au from 867m.
RC and diamond core drilling at Boda Two/Three is targeting extensions to gold-copper mineralized breccias and to infill the extensive low-grade disseminated gold-copper mineralization. Drilling is conducted on east-west drilling traverses, spaced 100m apart with broad drill hole spacing ranging between 150m – 300m. Assay results recently received from west collared drill holes comprise of five RC drill holes, including two pre-collars (PC), yet to be diamond tailed) and two RC pre-collared diamond core drill holes for a total of 4,049m.
For further information please visit: https://www.alkane.com.au/
