Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) (FRA:AK7) has revealed broad gold-copper porphyry mineralisation in drilling at Kaiser prospect just 1.5 kilometres from the Boda discovery within the Northern Molong Porphyry Project (NMPP) in Central West New South Wales.
Diamond core hole KSDD027 intersected two zones of gold-copper porphyry mineralisation in the Duke Zone with grades and alteration similar to Boda, further growing the NMPP project.
One of these zones was 360 metres from 0 metres grading 0.38 g/t gold and 0.15% copper and the other was 442 metres from 422 metres at 0.17 g/t gold and 0.11% copper.
Further diamond core drilling at the Boda and Boda 2 prospects has also generated extensive zones of gold-copper mineralisation including 152 metres from 88 metres at 0.14 g/t gold and 0.14% copper and 382 metres at 0.26 g/t gold and 0.12% copper from 337 metres.
“Extensive system emerging”
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.”
Duke Zone results
Within the 360-metre intersection in Duke Zone was 7 metres grading 0.90 g/t gold and 0.26% copper from 119 metres, 6 metres at 0.90 g/t gold and 0.29% copper from 204 metres and 6 metres at 1.71 g/t gold and 0.24% copper from 332 metres.
The 442-metre intersection included 27 metres at 0.31 g/t gold and 0.13% copper from 492 metres as well as 58 metres at 0.28 g/t gold and 0.16% copper from 735 metres.
Duke is currently interpreted from existing drilling to be about 250 metres wide, striking over 800 metres and open along strike and at depth.
Kaiser is 1.5 kilometres northwest of the Boda porphyry discovery, within an open 4-kilometre northwest-trending structural corridor hosting extensive alteration and gold-copper mineralisation with associated monzonite intrusives.
Hole KSDD027 was designed to test a conductive IP anomaly within Duke Zone on the north-eastern flank of the Kaiser porphyry-style mineralisation.
Further Boda success
At Boda, drilling has continued largely testing the southern extensions of the extensive mineralised system, together with step-out drilling from the very encouraging KSDD022 at Boda 2.
Alkane has received assays for four of the diamond core holes from the current program at Boda and Boda 2.
The 152-metre intersection was from hole KSDD017 which also returned:
- 4 metres grading 2.46 g/t gold and 0.26% copper from 454 metres;
- 18 metres grading 0.79 g/t gold and 0.08% copper from 541 metres, including 4 metres grading 2.91 g/t gold and 0.03% copper from 548 metres; and
- 38 metres grading 0.35 g/t gold and 0.11% copper from 787 metres.
Hole KSDD018 returned the 382-metre intersection that included 22 metres at 0.39 g/t gold and 0.15% copper from 463 metres and 33 metres at 0.47 g/t gold and 0.14% copper from 587 metres.
Drilling at Boda continues to test the dimensions and extensions to the large low-grade mineralised envelope as well as internal high-grade zones at Boda with further assay results expected in April 2021.
Earner added: “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 Porphyry Project.
“Drilling continues and we look forward to bringing shareholders more results in April.”
The NMPP is 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 has identified five discrete magnetic/intrusive complexes – Kaiser, Boda, Comobella, Driell Creek and Finns Crossing – within a 15-kilometre northwest-trending corridor.
The corridor is defined by monzonite intrusives, extensive alteration and widespread, low-grade gold-copper mineralisation.
A major RC and diamond core drilling program for approximately 30,000 metres began in July 2020.
Planning has begun to expand the drilling to other targets within the 15-kilometre monzonite intrusive corridor with drilling to begin next month.
Story by ProactiveInvestors
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