Alkane Resources Ltd (ASX:ALK) continues to demonstrate the copper-gold viability of its Northern Molong Porphyry Project in Central West New South Wales with strong results from the Boda Two prospect shaping a system that may be a large, tier one gold-copper project.
An extensive drilling program over three kilometres long from Kaiser to Boda is ongoing and has defined two significant gold-copper resources.
Shallow findings
The Boda Two prospect is immediately south and outside of the Boda resource, where drilling is targeting extensions to gold-copper mineralised breccias and to infill the extensive low-grade gold-copper mineralisation.
The latest results are from seven reverse circulation (RC) drill holes, including two failed pre-collars, and three RC pre-collared diamond core drill holes for a total of 6,827 metres.
Among the shallow intercepts, drill hole BOD099 returned 0.63 g/t gold equivalent (AuEq) (0.36 g/t gold and 0.19% copper) within an 82-metre intercept from 57 metres, including 18 metres at 1.04 g/t AuEq (0.54 g/t gold and 0.35% copper) from 74 metres and 10 metres at 1.13 g/t AuEq (0.88 g/t gold and 0.22% copper) from 106 metres.
More drilling to come
“We continue to see mineralisation extending to the south of Boda into Boda Two. This includes higher grade areas within the Boda Two system,” Alkane managing director Nic Earner said.
“In our recent drilling, we believe we have intersected a ‘causative’ monzodiorite dyke or pencil intrusive at Boda Two. We will use these results, expected in August 2023, to assist us in locating further higher-grade areas within the mineralisation.
“There is a lot of drilling still to come to further define the full three-kilometre mineralised zone from Kaiser to Boda and then Boda Two and Three beyond.
“The company looks forward to releasing results of this program as we work towards an upgraded mineral resource towards the end of the year.”
"Causative" monzodiorite with potassic alteration and chalcopyrite forming within miarolitic cavities and as veins from 1,250 metres.
Diamond drill results
Alkane, which also operates the nearby Tomingley Gold Operations, also revealed strong diamond core intercepts including:
- BOD112 194 metres at 0.41 g/t AuEq (0.21 g/t gold and 0.14% copper) from 852 metres, including 2.4 metres at 2.04 g/t AuEq (0.83 g/t gold and 0.86% copper) from 1,008.6 metres and 315.7 metres at 0.60 g/t AuEq (0.32 g/t gold and 0.20% copper) from 1,139 metres, including 28 metres at 1.45 g/t AuEq (0.95 g/t gold and 0.35% copper) from 1,192 metres and 28 metres at 1.51 g/t AuEq (0.65 g/t gold and 0.60% copper) from 1,368 metres;
- BOD113 145.8 metres at 0.58 g/t AuEq (0.34 g/t gold and 0.17% copper) from 1,204.2 metres, including 25 metres at 1.02 g/t AuEq (0.66 g/t gold and 0.25% copper) from 1,233 metres and 156.2 metres at 0.41 g/t AuEq (0.22 g/t gold and 0.14% copper) from 1,391 metres, including 13.4 metres at 0.90 g/t AuEq (0.50 g/t gold and 0.28% copper) from 1,392 metres; and
- BOD114 418 metres at 0.53 g/t AuEq (0.32 g/t gold and 0.15% copper) from 1,064 metres, including 11 metres at 1.17 g/t AuEq (0.78 g/t gold and 0.27% copper) from 1,065 metres and 16 metres at 1.13 g/t AuEq (0.65 g/t gold and 0.33% copper) from 1,113 metres.
The company has also been drilling at the northwest margin of the Boda inferred resource, which intersected extensive gold-copper porphyry mineralisation.
Results from two diamond core drill holes for a total of 4,057 metres include:
- BOD116 1,395 metres at 0.35 g/t AuEq (0.19 g/t gold and 0.12% copper) from 545 metres, including 540 metres at 0.48 g/t AuEq (0.26 g/t gold and 0.15% copper) from 546 metres, including 16 metres at 2.06 g/t AuEq (0.91 g/t gold and 0.81% copper) from 701 metres and 7 metres at 1.85 g/t AuEq (0.78 g/t gold and 0.76% copper) from 743 metres; and
- BOD117 113.4 metres at 0.46 g/t AuEq (0.33 g/t gold and 0.09% copper) from 373.3 metres, including 8 metres at 1.63 g/t AuEq (0.94 g/t gold and 0.49% copper) from 448 metres and 227 metres at 0.38 g/t AuEq (0.24 g/t gold and 0.09% copper) from 533 metres and 123 metres at 0.32 g/t AuEq (0.13 g/t gold and 0.13% copper) from 1,522 metres and 117 metres at 0.43 g/t AuEq (0.18 g/t gold and 0.18% copper) from 1,770 metres.
A total of four high-capacity drilling rigs are in operation at Boda, Boda Two and Kaiser to improve the confidence of the initial Boda and Kaiser resource estimates (MRE) to the indicated category.
In addition, extensional drilling is ongoing outside of the calculated Boda MRE, focusing on the northwest of the resource envelope terminating at the Solar Fault and south of the Boda resource envelope into Boda Two.
An updated Boda MRE is expected to be published in the fourth quarter, while for Kaiser, it will be in the first quarter of next year.
Read more on Proactive Investors AU
