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August 15, 2017

  • Assay results received for Alkane‚Äôs first diamond holes at the Kaiser-Boda prospects, located within the Northern Molong Porphyry Project (NMPP).  Previous drilling in the region has identified a large low grade gold-copper porphyry system.

 

  • The NMPP covers a large portion of the northern Molong Volcanic Belt, and results have confirmed the presence of epithermal style gold mineralisation crosscutting earlier porphyry gold-copper mineralisation at the Boda Prospect (KSDD001).  Drill intercepts include:
    • KSDD001        6m @ 2.14g/t gold from 483m
    • within             33m @ 0.51g/t gold from 476m
    • within             68m @ 0.35g/t gold from 476m

 

  • The epithermal gold is characterised by pyritic stringers and a distinctive pathfinder element suite, consistent with that noted at the nearby Duke Prospect (4m @ 9.69g/t Au from 110m KSRC013).

 

  • Diamond drilling suggests the Boda epithermal stringers have a steep easterly dip, indicating that the main zone of gold mineralisation defined in RC drilling (311m @ 0.28g/t Au from 19m to EOH in KSRC018) remains untested.

 

  • KSDD002 at Kaiser confirmed broad low grade porphyry style gold-copper mineralisation below the small near surface deposit.  Results include:
    • KSDD001         30m @ 0.23g/t gold, 0.13% copper from 6m
    • and                 129m @ 0.14g/t gold, 0.11% copper from 50m
    • incl                  23m @ 0.41g/t gold, 0.19% copper from 69m

 

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