Ongoing Programme Identifies Extensive Mineralised System At NMPP
Alkane Resources (ASX:ALK) continues to a build on what it believes is a large mineralised system at its Northern Molong Porphyry Project (NMPP) in NSW.
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 monzonite intrusives, extensive alteration and widespread, low-grade gold-copper mineralisation.
The latest drilling results at Kaiser intersected two zones of gold-copper porphyry mineralisation with grades and alteration similar to Boda and significant assay results of: 360m grading 0.38g/t Au, 0.15% Cu from 0m; 7m grading 0.90g/t Au, 0.26% Cu from 119m; 6m grading 0.90g/t Au, 0.29% Cu from 204m; 6m grading 1.71g/t Au, 0.24% Cu from 332m; 442m grading 0.17g/t Au, 0.11% Cu from 422m; 27m grading 0.31g/t Au, 0.13% Cu from 492m; and 58m grading 0.28g/t Au, 0.16% Cu from 735m
“Our drilling programme is revealing the emergence of an extensive mineralised system across Boda and Kaiser, consistent with our geological interpretation,” Managing Director, Nic Earner, said.
“Our drill programme 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.
“Drilling continues and we look forward to bringing shareholders more results in April.”
Kaiser is located 1.5km northwest of the Boda porphyry discovery, within an open 4km northwest trending structural corridor hosting extensive alteration and gold-copper mineralisation with associated monzonite intrusives.
Drilling has continued at Boda, largely testing the southern extensions of the significant mineralised system, together with step out drilling from the very encouraging KSDD022 hole at Boda Two.
Assay results were received for four of the diamond core holes from the current program at Boda and Boda Two. The drilling continues to intersect extensive zones of gold-copper mineralisation. Significant intercepts include: 152m grading 0.14g/t Au, 0.14% Cu from 88m; 4m grading 2.46g/t Au, 0.26% Cu from 454m; 18m grading 0.79g/t Au, 0.08% Cu from 541m; 4m grading 2.91g/t Au, 0.03% Cu from 548m; 38m grading 0.35g/t Au, 0.11% Cu from 787m; 382m grading 0.26g/t Au, 0.12% Cu from 337m; 22m grading 0.39g/t Au, 0.15% Cu from 463m; and 33m grading 0.47g/t Au, 0.14% Cu from 587m.
Boda drilling continues to test the dimensions and extensions to the large low-grade mineralised envelope as well as internal high-grade zones at Boda, and further assay results are expected in April 2021.
Planning has begun to expand the drilling to other targets within the 15km monzonite intrusive corridor with drilling to begin in April. Further drilling results from the current program are expected to be available in April 2021.
