Alkane is pleased to announce further results from its drilling program at the Company’s Northern Molong Porphyry Project in Central New South Wales. The program extends over three kilometres from Kaiser to 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 (‘Tomingley’).
Deep diamond core drilling continues to define significant mineralisation down plunge to the northwest of the Boda Mineral Resource Estimation. Significant intercepts include higher grade zones:
| BOD121 | 1,601.9m grading 0.51g/t AuEq (0.30g/t Au, 0.15% Cu) from 256m to end of hole |
| incl | 28m grading 1.51g/t AuEq (0.97g/t Au, 0.38% Cu) from 323m |
| incl | 4m grading 4.10g/t AuEq (2.78g/t Au, 0.93% Cu) from 336m |
| also | 45m grading 1.32g/t AuEq (1.01g/t Au, 0.22% Cu) from 464m |
| incl | 5m grading 3.50g/t AuEq (3.08g/t Au, 0.30% Cu) from 464m |
Assay results were received from five RC holes planned to infill the Boda Mineral Resource at its shallow levels. Shallow Boda intercepts include:
| BOD140 | 346m grading 0.54g/t AuEq (0.31g/t Au, 0.16% Cu) from 108m |
| incl | 1m grading 13.1g/t AuEq (13.0g/t Au, 0.05% Cu) from 331m |
| also | 27m grading 1.42g/t AuEq (0.65g/t Au, 0.54% Cu) from 413m |
Boda 2&3 prospect is centred approximately 1km south of Boda, within the Boda Intrusive Complex. Recent assay results were received from eight RC drill holes and two diamond core tails. Significant intercepts from the shallow RC drilling have intercepted higher grade gold-copper mineralisation from near surface, including:
| BOD123 | 38m grading 1.10g/t AuEq (0.68g/t Au, 0.30% Cu) from 244m |
| incl | 7m grading 3.70g/t AuEq (2.58g/t Au, 0.79% Cu) from 245m |
| and | 46m grading 0.36g/t AuEq (0.15g/t Au, 0.14% Cu) from 354m to end of hole |
| BOD125 | 52m grading 1.04g/t AuEq (0.72g/t Au, 0.23% Cu) from 150m |
| incl | 11m grading 2.33g/t AuEq (1.74g/t Au, 0.42% Cu) from 151m |
| BOD126 | 67m grading 0.52g/t AuEq (0.27g/t Au, 0.17% Cu) from 139m |
| incl | 8m grading 2.26g/t AuEq (1.55g/t Au, 0.50% Cu) from 195m |
| and | 27m grading 1.57g/t AuEq (1.10g/t Au, 0.33% Cu) from 243m |
| incl | 8m grading 3.68g/t AuEq (2.80g/t Au, 0.62% Cu) from 261m |
| BOD128 | 113m grading 1.21g/t AuEq (0.57g/t Au, 0.45% Cu) from surface |
| incl | 24m grading 2.47g/t AuEq (1.17g/t Au, 0.91% Cu) from 70m |
| incl | 3m grading 6.59g/t AuEq (2.78g/t Au, 2.67% Cu) from 85m |
| BOD129 | 148m grading 0.50g/t AuEq (0.22g/t Au, 0.20% Cu) from 115m |
| incl | 12m grading 0.97g/t AuEq (0.51g/t Au, 0.32% Cu) from 118m |
| also | 16m grading 1.04g/t AuEq (0.37g/t Au, 0.47% Cu) from 188m |
| and | 22m grading 0.53g/t AuEq (0.23g/t Au, 0.21% Cu) from 300m |
Results from two diamond core tails (both RC pre-collars were drilled to 424m depth and their results previously announced) include new significant intercepts of:
| BOD098 | 551.9m grading 0.34g/t AuEq (0.17g/t Au, 0.12% Cu) from 607m |
| incl | 27m grading 0.97g/t AuEq (0.57g/t Au, 0.28% Cu) from 821m |
| BOD104 | 189m grading 0.66g/t AuEq (0.28g/t Au, 0.26% Cu) from 322m |
| incl | 71m grading 1.03g/t AuEq (0.44g/t Au, 0.42% Cu) from 354m |
| and | 163m grading 0.59g/t AuEq (0.35g/t Au, 0.17% Cu) from 923m |
| incl | 22m grading 1.00g/t AuEq (0.66g/t Au, 0.24% Cu) from 926m |
Drilling in the current program is nearing completion at Boda and Boda 2&3, and a backlog of drill core is being sampled with final assay results anticipated in September. Core and RC drilling is currently focussed at Kaiser and an updated mineral resource estimation for Boda, expected to include Boda 2&3, is anticipated in Q4 2023 and for Kaiser in Q1 2024.
Alkane Managing Director, Nic Earner, said:
“The current program of drilling at Boda and Boda 2&3 is now completed and the drill core is being progressively sampled and analysed. These current results show that mineralisation extends further to the northwest down plunge towards Kaiser and south into Boda 3.
“We will be receiving results from the Boda complex drilling into September, which positions us well for an update to the mineral resource estimate before the end of the year.”