Alkane Resources Limited (ASX: ALK) has announced further high-grade mineralisation at the Boda Prospect within the Northern Molong Porphyry Project (NMPP) in Central New South Wales, with diamond drill hole KSDD031 intersecting high-grade hits of 383.2m grading 0.80g/t Au, 0.31% Cu from 775m incl 204m grading 1.40g/t Au, 0.51% Cu from 776m incl 101m grading 2.47g/t Au, 0.83% Cu from 824m incl 70m grading 3.04g/t Au, 0.92% Cu from 829m.
Alkane said that the drilling has extended the high-grade sulphide cemented breccia below previous drilling by a further 100m. The company noted that breccia remains open vertically with drilling planned to continue to define its dimensions. The company also reported assay results from three other diamond core drill holes from the current Boda program.
At Boda Two, ALK reported encouraging results from two diamond core drill holes defining a gold rich pyrite zone (KSDD023) on the eastern margin of a new zone of extensive copper-gold porphyry mineralisation (KSDD030).
Alkane said that drilling is ongoing at Boda and Boda Two, testing extensions and adding definition to the identified mineralised systems.
Drilling at NMPP
The company had commenced a major RC and diamond core drilling program for approximately 30,000 metres at the Northern Molong Porphyry Project (NMPP) in July 2020.
The program was designed to test the dimensions and extensions to the large low-grade mineralised envelope as well as any internal high-grade zones at Boda. In addition, the drilling also tested other known gold-copper mineralisation occurrences and co-incident IP anomalies within the 15km monzonite intrusive corridor that extends from Boda to Finns Crossing.
ALK has now reported the assays from the current drilling program at Boda and Boda Two, comprising seven diamond core holes for a total of 10,091 metres testing the strike and depth extensions of the gold-copper porphyry mineralisation at the Boda prospect.
An electrical geophysics survey (3D-IP) previous completed over a 6km long north-south target corridor of Boda volcanic stratigraphy had identified a strongly conductive target at the Boda Two prospect. The anomaly was drill tested with KSDD022 intersecting strong pyrite mineralisation with impressive gold grades of 292m @ 0.66g/t Au from 867 metres.
High-grade results from Boda prospect
ALK said that at the Boda Prospect, two diamond core holes, KSDD029 and KSDD031, were designed to intersect the northwest structural trend and test down plunge of the high-grade breccia identified by KSDD007 and KSDD028.
The company reported that KSDD031 successfully intersected the sulphide cemented breccia down dip while KSDD029 swung acutely to the south finishing approximately 200m off target and missing the breccia.
KSDD031
DD hole KSDD031 intersected the down dip extension of the sulphide cemented breccia zone with significant intercepts of 13m grading 0.44g/t Au, 0.35% Cu from 645m; and 383.2m grading 0.80g/t Au, 0.31% Cu from 775m incl 204m grading 1.40g/t Au, 0.51% Cu from 776m incl 101m grading 2.47g/t Au, 0.83% Cu from 824m incl 70m grading 3.04g/t Au, 0.92% Cu from 829m.
The company said that assay results were also received for three other diamond core holes (KSDD015, KSDD016, and KSDD019) testing the Boda prospect using west drilled RC pre-collars. ALK noted that all three drill holes intersected extensive gold-copper porphyry mineralisation hosted in strongly calc-potassic altered mafic to andesitic volcanics.
KSDD015
Important hits from diamond core hole KSDD015 included 1249.1m grading 0.18g/t Au, 0.12% Cu from 6m incl 113m grading 0.39g/t Au, 0.16% Cu from 764m; and also 81m grading 0.40g/t Au, 0.32% Cu from 967m.
KSDD016
Standout results from KSDD016 included 308m grading 0.18g/t Au, 0.20% Cu, 31ppm Mo from 582m incl 42m grading 0.56g/t Au, 0.54% Cu, 130ppm Mo from 764m and 106m grading 0.15g/t Au, 0.15% Cu, 17ppm Mo from 970m incl 22m grading 0.38g/t Au, 0.31% Cu, 13ppm Mo from 1018m and 30m grading 0.27g/t Au, 0.31% Cu from 1130m.
KSDD019
Significant hits from KSDD019 included 87m grading 0.18g/t Au, 0.11% Cu from 189m and 445m grading 0.23g/t Au, 0.10% Cu from 312m incl 44m grading 0.36g/t Au, 0.20% Cu from 377m.
Encouraging results from Boda Two
ALK said that at Boda Two, assay results were received from two diamond core drill holes defining a gold rich pyrite zone (KSDD023) on the eastern margin of a new zone of extensive copper-gold porphyry mineralisation (KSDD030).
KSDD023
Standout results from KSDD023 included 520m grading 0.24g/t Au, 0.03% Cu from 645m Incl 24m grading 0.43g/t Au, 0.12% Cu from 935m
KSDD030
Important hits from KSDD030 included 1,483m grading 0.15g/t Au, 0.10% Cu from 241m incl 16m grading 0.64g/t Au, 0.24% Cu, 15ppm Mo from 382m; and 41m grading 0.32g/t Au, 0.21% Cu from 377m.
Next steps
Alkane said that further drilling at Boda prospect is planned to define its resource potential. The company said that other drilling work targeting the IP anomalies will also be undertaken within the licence.
ALK said that drilling continues at Boda and Boda Two, testing extensions and adding definition to the identified mineralised systems. The company said that an air-core drilling rig and one high-capacity RC drilling rig will be mobilised onsite next month supporting the ongoing diamond core drilling at Boda, Boda Two, as well as regional targets within the NMPP. Alkane said that further assay results are expected to be released when available.
Management statements
Alkane Managing Director, Nic Earner, said: “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.
Our drilling program continues with the aim of both in-filling and expanding the mineralised system. We expect that the ongoing drilling program 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.”
Image Source: Alkane Resources Limited