Company Targeting Tier One Copper-Gold Project
Alkane Resources Limited (ASX: ALK) has announced a significant expansion of the mineralisation at the company’s Boda Prospect in Central New South Wales.
Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project, which the company believes has the potential to be a large, tier one gold-copper project.
Managing Director, Nic Earner, said Alkane also operates the nearby Tomingley Gold Operations and is working towards its stated ambition of becoming Australia’s next multi-mine gold producer.
“The Boda Prospect just keeps getting bigger and bigger,” Mr Earner said.
“We have extended the mineralisation to the north and, to the south, we have either an extension or a whole new system emerging. We believe Boda is shaping up to be a large, tier one gold-copper porphyry project.
“We’ve mobilised a second diamond drill rig to site and we are currently targeting the identified high-grade areas, infilling the very long and deep mineralised system and testing identified anomalies at Kaiser and, further to the south of Boda, an area about 5 kilometres in length.
“We anticipate being able to report the next round of results from this campaign in late December this year.”
Drilling at Boda Prospect has intersected further extensive zones of gold-copper mineralisation, more than doubling the size of the immediate target zone identified by the discovery drill programme in September 2019.
Drilling shows a subvertical elliptical zone of significant gold-copper mineralisation indicative of a large alkalic porphyry system of 400m width that is over 1,000m north-south strike length and more than 1,100m vertically.
The extension of mineralisation to the south is driven by assay results received from a diamond core drill hole 500m south of the original Boda gold-copper intersections. Drilling continues to expand the footprint of Boda and remains open to the northwest, south and at depth. This, together with the encouraging mineralisation at Boda Two and Kaiser, give support to potential for a large tonnage gold-copper alkalic porphyry district is being defined.
