Alkane Resources Ltd (ASX:ALK) has extended the gold and copper mineralised footprint at its Northern Molong Porphyry Project in Central New South Wales with further significant results from the project’s Boda, Boda Two and Boda Three targets.
The explorer and producer has been running a drill program over a 3-kilometre mineralised zone spanning Molong’s Kaiser and the Boda targets to prove up a large tier-one gold and copper camp.
Core and reverse circulation (RC) drilling is ongoing at Kaiser, while the program at the Boda targets has been completed.
Boda's latest drill results take Alkane a step closer to updating its mineral resource estimate (MRE) in the fourth quarter, while Kaiser’s MRE is slated for an upgrade early next year.
Breaking it down
The Boda deposit has an inferred mineral resource of 624 million tonnes grading 0.26 g/t gold and 0.14% copper for 5.21 million ounces of gold and 900,000 tonnes of copper.
This initial MRE was based on assay results from 83 drill holes for 52,390 metres of diamond core and 19,041 metres of RC drilling over a strike length of 1,000 metres and width of 500 metres.
The latest results from one diamond core drill hole testing the northwest margin of the MRE as well as beneath it intersected extensive gold-copper such as:
- 1,601.9 metres at 0.51 g/t gold equivalent (0.30 g/t gold, 0.15% copper) from 256 metres to end of hole, including 28 metres at 1.51 g/t gold equivalent (0.97 g/t gold, 0.38% copper) from 323 metres, including 4 metres at 4.10 g/t gold equivalent (2.78 g/t gold, 0.93% copper) from 336 metres.
At the Boda Two and Three targets, standout results from two diamond tails include:
- BOD098: 551.9 metres at 0.34 g/t gold equivalent (0.17 g/t gold, 0.12% copper) from 607 metres, including 27 metres at 0.97 g/t gold equivalent (0.57 g/t gold, 0.28% copper) from 821 metres; and
- BOD104: 189 metres at 0.66 g/t gold equivalent (0.28 g/t gold, 0.26% copper) from 322 metres, including 71 metres at 1.03 g/t gold equivalent (0.44 g/t gold, 0.42% copper) from 354 metres; and 163 metres at 0.59 g/t gold equivalent (0.35 g/t gold, 0.17% copper) from 923 metres, including 22 metres at 1.00 g/t gold equivalent (0.66 g/t gold, 0.24% copper) from 926 metres.
“The current program of drilling at Boda and Boda Two and Three is now completed and the drill core is being progressively sampled and analysed,” Alkane managing director Nic Earner said.
“These current results show that mineralisation extends further to the northwest down plunge towards Kaiser and south into Boda Three.
“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.”