Exploration has continued around Boda-Kaiser across the broader Northern Molong Porphyry Project (NMPP). Reconnaissance activities have been conducted over numerous prospects, and further drill testing of gold-copper mineralisation has occurred at Driell Creek as well as testing extensions to mineralisation outside of the Boda-Kaiser resources.
At Boda 2-3 the vertical extent of a high-grade hydrothermal breccia intersected by drill holes BOD094 and BOD159 was tested by two diamond core holes. Breccia mineralisation was intersected approximately 50m above BOD159 by BOD164 and approximately 170m down-dip of BOD094 by BOD165. Results include:
| BOD164 | 125.1m grading 0.61g/t AuEq* (0.46g/t Au, 0.12% Cu) from 190m |
| incl | 13m grading 1.59g/t AuEq (1.51g/t Au, 0.07% Cu) from 228m |
| also | 6m grading 1.02g/t AuEq (0.73g/t Au, 0.23% Cu) from 266m |
| and | 78m grading 0.75/t AuEq (0.38g/t Au, 0.30% Cu) from 420m |
| incl | 5m grading 1.44g/t AuEq (0.58g/t Au, 0.69% Cu) from 455m |
| and | 53.3m grading 1.21g/t AuEq (0.87g/t Au, 0.27% Cu) from 1059.7m |
| incl | 7m grading 2.13g/t AuEq (1.61/t Au, 0.42% Cu) from 1122m |
| also | 6m grading 3.08g/t AuEq (2.31g/t Au, 0.62% Cu) from 1138m |
| BOD165 | 71m grading 0.49g/t AuEq (0.35g/t Au, 0.11% Cu) from 1072m |
| incl | 7.9m grading 0.75g/t AuEq (0.49g/t Au, 0.21% Cu) from 1110.1m |
| also | 4m grading 1.39g/t AuEq (1.15g/t Au, 0.20% Cu) from 1135m |
| and | 50m grading 0.55g/t AuEq (0.33g/t Au, 0.18% Cu) from 1410 |
| incl | 6m grading 1.08g/t AuEq (0.68g/t Au, 0.32% Cu) from 1410m |
| also | 5.9m grading 0.96g/t AuEq (0.59g/t Au, 0.30% Cu) from 1434.1m |
| and | 52.8m grading 0.49g/t AuEq (0.28g/t Au, 0.17% Cu), from 1516m |
| incl | 5m grading 0.94g/t AuEq (0.52g/t Au, 0.33% Cu) from 1539m |
At Boda 2-3 three RC drill holes were completed to test southeastern extensions to the resource. All the drilling intersected calc-potassic alteration and Au-Cu mineralisation indicating the resource area remains open to the south. Significant results include:
| BOD160 | 9m grading 0.51g/t AuEq (0.27g/t Au, 0.19% Cu) from 28m |
| incl | 2m grading 1.21g/t AuEq (0.72g/t Au, 0.40% Cu) from 34m |
| and | 46m grading 0.44g/t AuEq (0.24g/t Au, 0.16% Cu) from 101m |
| incl | 5m grading 0.92g/t AuEq (0.63g/t Au, 0.23% Cu) from 133m |
| BOD162 | 10m grading 0.41g/t AuEq (0.32g/t Au, 0.07% Cu) from 90m |
| and | 28m grading 0.68g/t AuEq (0.27g/t Au, 0.33% Cu) from 168m |
| incl | 4m grading 1.16g/t AuEq (0.64g/t Au, 0.42% Cu) from 192m |
At the Driell Creek prospect, located 3km northwest of Kaiser, four RC and three diamond core drill holes were completed. Subsequent structural and geochemical modelling has determined much of the drilling did not test the prospective block of altered volcanics that hosts the mineralisation of DRC004. Best results are:
| DRC011 | 2m grading 1.11g/t Au, 0.02% Cu from 173m |
| and | 17m grading 0.08g/t Au, 0.20% Cu from 277m |
Planned regional exploration in the NMPP for the next 12 months includes a MobileMT survey over the NMPP to define new porphyry systems. Other activities include target generation work comprising mapping, soil sampling, and air-core drilling. Any deeper drilling will focus on further testing the Driell Creek and Haddington prospects as well as extensions to Boda-Kaiser, including the area between the two deposits.
Alkane is pleased to announce further results from its drilling program at the Company’s Northern Molong Porphyry Project (NMPP) in Central New South Wales. The program tested the highest priority targets across the tenement package.
Alkane also operates the nearby Tomingley Gold Operations.
Alkane Managing Director & CEO, Nic Earner, said: “This drilling program is part of our ongoing exploration, seeking to find further deposits similar to Boda and Kaiser across the Northern Molong Porphyry tenement package. We are also testing further extensions to Boda-Kaiser, of which these latest results are quite encouraging. Our scoping study results are very positive, particularly at current metal prices, any further mineralisation discovered will continue to add to the business case.”
*The equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu%/100*31.1035*copper price($/t)/gold price($/oz). The prices used are US$2,500/oz gold and US$10,000/t copper. Recoveries are estimated at 87% Cu and 81% gold from metallurgical studies at Boda-Kaiser. Alkane considers the elements included in the metal equivalents calculation to have a reasonable potential to be recovered and sold.