Alkane Resources Limited (ASX: ALK, OTCMKTS: ALKEF, FRA: AK7) revealed that two zones of gold-copper porphyry mineralisation with grades and alteration similar to Boda was intersected from the drilling at Kaiser prospect within the Northern Molong Porphyry Project in Central West New South Wales.
Significant assay results from diamond core hole KSDD027 included 360m grading 0.38g/t Au, 0.15% Cu from 0m (Duke Zone) incl 7m grading 0.90g/t Au, 0.26% Cu from 119m; and 58m grading 0.28g/t Au, 0.16% Cu from 735m.
The company said that the Duke Zone is currently interpreted from existing drilling to be approximately 250m wide, striking over 800m and open along strike and at depth.
ALK said that further extensive zones of gold-copper mineralisation were intercepted from four of the diamond core holes from the program at Boda and Boda Two. Important intercepts included 52m grading 0.14g/t Au, 0.14% Cu from 88m and 4m grading 2.46g/t Au, 0.26% Cu from 454m; and 382m grading 0.26g/t Au, 0.12% Cu from 337m incl 22m grading 0.39g/t Au, 0.15% Cu from 463m.
The company said that Boda drilling continues to test the dimensions and extensions to the large low-grade mineralised envelope as well as internal high-grade zones at Boda, and further assay results are expected in April 2021.
Alkane exploration in the Northern Molong Porphyry Project (NMPP) had identified five discrete magnetic/intrusive complexes – Kaiser, Boda, Comobella, Driell Creek, and Finns Crossing – within a 15km northwest trending corridor.
Drilling at NMPP
The company had commenced a major RC and diamond core drilling program for approximately 30,000 metres in July 2020. The program was designed to test the dimensions and extensions to the large low-grade mineralised envelope as well as internal high-grade zones at Boda discovered in 2019.
The drilling was also intended to test other known gold-copper mineralisation occurrences and co-incident IP anomalies within the 15km monzonite intrusive corridor that extends from Boda to Finns Crossing.
Kaiser is located 1.5km northwest of the Boda porphyry discovery, within an open 4km northwest trending structural corridor hosting extensive alteration and gold-copper mineralisation with associated monzonite intrusives.
High-grade results from KSDD027
Diamond core hole KSDD027 within the Kaiser discovery was designed to test a conductive IP anomaly within the Duke Zone on the north-eastern flank of the Kaiser porphyry style mineralisation. The company announced that KSDD027 intersected similar gold-copper grades as commonly observed at the Boda prospect with particular encouragement from the Duke Zone.
Alkane said that KSDD027 defined alteration and mineralisation associated with the two zones with significant intercepts of 360m grading 0.38g/t Au, 0.15% Cu from 0m (Duke Zone) incl 7m grading 0.90g/t Au, 0.26% Cu from 119m; 6m grading 0.90g/t Au, 0.29% Cu from 204m; 6m grading 1.71g/t Au, 0.24% Cu from 332m; 442m grading 0.17g/t Au, 0.11% Cu from 422m incl 27m grading 0.31g/t Au , 0.13% Cu from 492m; and 58m grading 0.28g/t Au, 0.16% Cu from 735m.
Encouraging results from Boda and Boda Two
The company announced that assay results were received from four diamond core holes including their RC pre-collars for a total of 4,768 metres testing the strike and depth extensions of the gold-copper porphyry mineralisation at Boda and Boda Two.
Significant intercepts included KSDD017: 152m grading 0.14g/t Au, 0.14% Cu from 88m; 4m grading 2.46g/t Au, 0.26% Cu from 454m; 18m grading 0.79g/t Au, 0.08% Cu from 541m incl 4m grading 2.91g/t Au, 0.03% Cu from 548m; 43m grading 0.22g/t Au, 0.07% Cu from 591m; and 38m grading 0.35g/t Au, 0.11% Cu from 787m; KSDD018 382m grading 0.26g/t Au, 0.12% Cu from 337m incl 22m grading 0.39g/t Au, 0.15% Cu from 463m; 33m grading 0.47g/t Au, 0.14% Cu from 587m; and 48m grading 0.16g/t Au, 0.11% Cu from 849m; KSDD024: 7m grading 0.50g/t Au, 0.02% Cu from 16m; 53m grading 0.24g/t Au, 0.01% Cu from 152m; 41m grading 0.23g/t Au, 0.01% Cu from 257m; 35m grading 0.21g/t Au, 0.03% Cu from 588m; 76m grading 0.21g/t Au, 0.01% Cu from 648m; 43m grading 0.20g/t Au, 0.02% Cu from 736m; 18m grading 0.11g/t Au, 0.13% Cu, 24ppm Mo from 940m incl 2m grading 0.40g/t Au, 0.38% Cu, 88ppm Mo from 940m; 53m grading 0.15g/t Au, 0.11% Cu, 18ppm Mo from 992m incl 5m grading 0.30g/t Au, 0.18% Cu, 21ppm Mo from 1009m; and 3m grading 0.34g/t Au, 0.29% Cu, 32ppm Mo from 1029m.
Important hits from KSDD021, the diamond core drill hole testing the southern extensions to the Boda Two prospect included 72m grading 0.14g/t Au, 0.11% Cu from 150m; 670.8m grading 0.14g/t Au, 0.10% Cu from 311m incl 24m grading 0.63g/t Au, 0.16% Cu from 504m incl 8m grading 1.35g/t Au, 0.24% Cu from 504m; 16m grading 0.26g/t Au, 0.15% Cu from 768m; 15m grading 0.26g/t Au, 0.14% Cu from 855m; 5m grading 0.47g/t Au, 0.42% Cu from 899m; and 11m grading 0.33g/t Au, 0.16% Cu from 947m.
Alkane said that planning has begun to expand the drilling to other targets within the 15km monzonite intrusive corridor with drilling to begin in April. The company said that further drilling results from the current program are expected to be available in April 2021.
ALK said that further drilling is planned at Boda prospect to define its resource potential. The company said that other drilling work targeting the IP anomalies will be undertaken within the licence.
Alkane Managing Director, Nic Earner, said: “Our drilling program is revealing the emergence of an extensive mineralised system across Boda and Kaiser, consistent with our geological interpretation.
“Our drill program is revealing not only the very large scale of Boda, but potential repeat systems of significant scale within a structural corridor. These results give us added confidence to pursue our drilling campaign as we seek to identify what could potentially be a series of substantial deposits across our Northern Molong Porphory Project. Drilling continues and we look forward to bringing shareholders more results in April.”
*Image source: Alkane Resources Limited