Alkane Resources Limited (ASX: ALK) has intersected further high-grade mineralisation at the company’s Boda Prospect in Central New South Wales.
Managing Director, Nic Earner, said Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project (NMPP), which Alkane believes has the potential to be a large, tier one gold-copper project.
These latest results give further insight into both the high-grade brecciated zone and the sheer size of the Boda complex and adjacent complexes within the Northern Molong Porphyry Project,” Mr Earner said.
“Our drilling programme continues with the aim of both in-filling and expanding the mineralised system. We expect that the ongoing drilling programme will validate the Company’s growing confidence in the scale of the high-grade zone at Boda.
“Along with the company’s nearby Tomingley Gold Operations (TGO), Alkane is actively working towards its stated ambition of becoming Australia’s next multi-mine gold producer.”
The NMPP is located at the northern end of the Molong Volcanic Belt, within the Eastern Lachlan Orogen (Macquarie Arc) in Central West of NSW and is considered highly prospective for large scale porphyry and epithermal gold-copper deposits.
Exploration in the NMPP has identified five discrete magnetic/intrusive complexes – Kaiser, Boda, Comobella, Driell Creek and Finns Crossing – within a 15km northwest trending corridor. The corridor is defined by monzonite intrusives, extensive alteration and widespread, low-grade, gold-copper mineralisation.
Two new diamond core holes at Boda, KSDD029 and KSDD031, were designed to intersect the northwest structural trend and test down plunge of the high-grade breccia identified by previous holes KSDD007 and KSDD028. KSDD031 successfully intersected the sulphide cemented breccia down dip with significant assay results of: 383.2m grading 0.80g/t Au, 0.31% Cu from 775m, 204m grading 1.40g/t Au, 0.51% Cu from 776m, 101m grading 2.47g/t Au, 0.83% Cu from 824m and 70m grading 3.04g/t Au, 0.92% Cu from 829m
The drilling has extended the high-grade sulphide cemented breccia below previous drilling by a further 100m. The breccia remains open vertically with drilling planned to continue to define its dimensions.