Alkane Resources Ltd (ASX:ALK) continues to grow the copper-gold potential of its Northern Molong Porphyry Project in Central West New South Wales with strong results from the Boda Two prospect confirming extensive mineralisation.
With the project, which is to the northeast of the company’s Tomingley Gold Operations, already hosting two significant resources at Boda and Kaiser, Alkane is confident of proving up further deposits and establishing a large, tier-one gold-copper project.
Extensive drilling
An extensive drilling program is being carried out over three kilometres from Kaiser, through Korridor and Boda, down to Boda Two and Boda Three.
The diamond core and reverse circulation (RC) drilling at Boda Two has confirmed broad zones of high-grade gold pyrite cemented breccia mineralisation within extensive gold-copper porphyry mineralisation.
A highlight was diamond hole BOD093 which returned 438 metres at 0.60 g/t gold equivalent (0.38 g/t gold and 0.15% copper) from 842 metres, including 5 metres at 2.22 g/t from 862 metres, 8.1 metres at 2.38 gold equivalent from 2,109.9 metres and 92 metres at 0.72 g/t gold equivalent from 1,149 metres (gold-pyrite).
Growing collective resource base
Alkane managing director Nic Earner said: “These early results from the most recent phase of drilling at Boda Two confirm that large-scale mineralisation continues to extend to the south of Boda.
"In addition, it appears that there are higher grade areas within the Boda Two system.
“These results are especially encouraging when viewed in combination with the recent maiden Kaiser resource to the northwest 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 mineralisation to the south.”
Prospective for large-scale deposit
The project is 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.
Deposits and prospects within the Northern Molong Porphyry Project.
RC and diamond core drilling at Boda Two/Three is targeting extensions to gold-copper mineralised breccias and to infill the extensive low-grade disseminated gold-copper mineralisation.
The Boda Two/Three prospect is immediately south and on strike of the Boda resource envelope and further drilling is expected to combine Boda Two/Three mineralisation into the Boda resource estimation.
Diamond drill results
Other strong gold equivalent (AuEq) diamond drill results are:
- BOD108 - 45.7 metres at 0.97 g/t AuEq) from 599.8 metres, including 3.8 metres at 3.74 g/t AuEq from 609 metres (gold-pyrite) also 3.4 metres at 2.99 g/t AuEq from 633 metres and 226 metres at 0.46 g/t AuEq from 881 metres, including 22 metres at 0.85 g/t AuEq from 97 9 metres;
- BOD109 – 62 metres at 0.46 g/t AuEq from 520 metres, including 8 metres at 1.10 g/t AuEq from 522 metres; 25 metres at 2.30 g/t AuEq from 633 metres (gold-pyrite), including 8 metres at 5.20 g/t AuEq from 683 metres (gold-pyrite); and 40.9 metres at 0.53 g/t AuEq from 830 metres, including 1.9 metres at 4.34 g/t AuEq from 869 metres (gold-pyrite); and
- BOD109W – 78 metres at 0.47 g/t AuEq from 514 metres and 251 metres at 0.47 g/t from 807 metres, including 7 metres at 2.95 g/t AuEq from 911 metres.
Alkane has also received encouraging shallow results from RC drilling, including:
- BOD098 – 34 metres at 0.50 g/t AuEq from 113 metres and 111 metres at 1.01 g/t AuEq from 241 metres, including 21 metres at 3.01 g/t AuEq from 286 metres.
- BOD101 – 2 metres at 1.38 g/t AuEq from 85 metres and 34 metres at 0.99 g/t AuEq from 98 metres, including 9 metres at 2.62 g/t AuEq from 105 metres; and
- BOD104 – 102 metres at 0.90 g/t AuEq from 322 metres, including 5 metres at 2.17 g/t AuEq from 383 metres.
Two high-capacity diamond core drill rigs are in operation at Boda and at Boda Two/Three.
The planned drilling is testing extensions to mineralisation outside of the calculated Boda mineral resource and is focusing on extensions to the northwest of the Boda resource envelope terminating at the Solar Fault and south of the Boda resource envelope at Boda Two/Three.
In addition, two high-capacity RC drill rigs are planned to start next month to infill areas around high-grade mineralisation at Boda and Kaiser to improve the confidence of the initial Boda and Kaiser resource estimations to the indicated category.
Alkane expects updated Boda and Kaiser resource estimations later in 2023.
The additional drill capacity will also facilitate initial testing of other regional targets.