Alkane Resources Limited (ASX: ALK) has obtained further positive results from its drilling programme at the company’s Northern Molong Porphyry Project in Central New South Wales.
The programme extends over three kilometres from Kaiser to Boda, down to Boda Two and Boda Three and the company now believes this system has the potential to be a large, tier one gold-copper project.
The current program of drilling at Boda and Boda 2 and 3 is now completed and the drill core is being progressively sampled and analysed,” Managing Director, Nic Earner, said.
“These current results show that mineralisation extends further to the northwest down plunge towards Kaiser and south into Boda 3.
“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.”
Northern Molong Porphyry Project (NMPP)
The project is located 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.
Exploration in the NMPP has identified six discrete magnetic/intrusive complexes – Kaiser, Boda, Boda South, Comobella, Driell Creek and Finns Crossing – within a 15km northwest trending corridor. The corridor is defined by intermediate intrusives, lavas and breccias, extensive alteration and widespread, low-grade, gold-copper mineralisation.
Two significant gold-copper resources have been defined within the corridor at Boda and Kaiser. Drilling continues to improve the confidence of the Boda and Kaiser deposits and to test mineralised zones outside their resource envelopes.
Deep diamond core drilling continues to define significant mineralisation down plunge to the northwest of the Boda Mineral Resource Estimation.
