Alkane Resources (ASX:ALK) has confirmed copper–zinc-lead-silver targets via drilling conducted at the Rockley Project in New South Wales.
A scout slimline reverse circulation drilling program comprising seven holes was conducted, targeting multi-element and multi-point soil and rock chip geochemical anomalies and historical workings.
Alkane, which has a market capitalisation of $262.51 million, reports six of the seven drillholes intersected copper-zinc-lead-silver skarn mineralisation.
The results include 62m @ 0.12% copper, 0.39% zinc, 4 grams per tonne (g/t) silver, including 3m @ 0.44% copper, 0.64% zinc, 0.34% lead, and 29.8g/t silver; and 14m @ 0.14% copper, 0.41% zinc, 0.04g/t gold, and 2.7g/t silver.
Managing Director Nic Earner says the company is searching for volcanic massive sulphide or skarn-type deposits that contain gold and base metals, particularly copper.
“These results are encouraging; we have identified multiple occurrences of mineralisation and have several large targets within the project area,” Earner says.
“We will conduct further scout drilling on the most prospective of these targets in the coming months.”
For the next 12 months, further target generative exploration work is planning. These activities will include mapping, rock chip sampling, and soil sampling.
Alkane says further scout drilling is also planned for Stewarts, Red Hill, and Cow Flat South, alongside testing the ground electromagnetic plates generated at Belmore East and Red Hill South.
Mapping and rock chip sampling at the Apsley, Belmore East, Red Hill, and Stewarts prospects has returned up to 7.72% copper, 22.2% zinc, 8.11% lead, 91.3g/t silver, and 0.47g/t gold.
The Rockley Project comprises three licences and lies in the central west of New South Wales.
Alkane Resources is focused on becoming one of Australia’s multi-mine gold and copper producers.
Write to Aaliyah Rogan at Mining.com.au
Images: Alkane Resources
