Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) has released new exploration results from the Boda-Kaiser area at its Northern Molong Porphyry Project (NMPP) in New South Wales, Australia. The company completed several drill holes targeting extensions and new mineralized zones near the existing resources.
Near Boda-Kaiser Drilling
One diamond core hole and one reverse circulation (RC) hole tested the area between Kaiser and Boda deposits. Three RC holes were drilled northeast of Boda-Kaiser, following up on IP and surface geochemical surveys. The diamond hole intersected a magmatic root zone within an intrusive-hydrothermal breccia, with further drilling planned along strike and up-dip.
Assay Highlights
- KAI226: 23.5 meters grading 0.17 g/t gold and 0.14% copper, including 3.2 meters at 0.31 g/t gold and 0.23% copper; also 42.1 meters at 0.16 g/t gold and 0.14% copper, including 4.8 meters at 0.59 g/t gold and 0.29% copper.
- BOD168: 9 meters grading 0.30 g/t gold and 0.01% copper.
- HAD001: 3 meters at 1.74 g/t gold and 0.07% copper; also 9 meters at 0.13 g/t gold and 0.08% copper, including 3 meters at 0.36 g/t gold and 0.11% copper.
District Exploration
Four RC holes tested IP chargeability targets at the Haddington and Glen Hollow prospects within the Comobella Intrusive Complex. Most drilling confirmed chargeability anomalies, intersecting monzonites with pyrite and minor copper-gold mineralization.
Mobile Magnetotellurics (MMT) surveys over the project area north of Boda-Kaiser defined six high-priority targets for porphyry-style systems at Driell Creek, Murga, Gollan North, and two new prospects, One Tree and Old Station. On-ground validation has commenced.
Management Comment
Alkane Managing Director and CEO Nic Earner stated: “These results continue to add to the understanding of the Boda–Kaiser project, showing the scale potential of the system and the possibility for further growth. We are progressing the studies and consultation required for project approval by the regulator, and we expect to add further value to the project as we continue to explore the wider Northern Molong Porphyry system.”
Project Overview
The NMPP is located in central-west NSW at the northern end of the Molong Volcanic Belt of the Macquarie Arc, considered highly prospective for large-scale porphyry and epithermal gold-copper deposits. Exploration has identified seven discrete intrusive complexes: Kaiser, Boda, Boda South, Driell Creek, Murga, Windora, and Saxa, within a northwest-trending structural corridor. Two significant gold-copper resources have been defined at Boda and Kaiser.
Over the past 12 months, regional exploration included a drilling program totaling 3,813 meters, focusing on IP targets and resource extensions. Assay results have been received for eight RC holes (2,510 meters) and one diamond hole (1,303 meters).
