Multi commodity miner and explorer, Alkane Resources (ASX: ALK) has made a discovery of significant porphyry gold-copper mineralisation at its Boda prospect, within the Northern Molong Porphyry Project (NMPP) in central west NSW.
The NMPP incorporates three exploration licences, covering an area of 110km2 of the northern Molong Volcanic Belt. The area is considered highly prospective for large porphyry gold-copper mineralisation, as demonstrated by the world class Cadia Valley porphyry district, located to the south of the volcanic belt.
Alkane Resources Managing Director, Nic Earner, said: “These drill results suggest a significant and exciting discovery in a region that has a history of delivering large, low-grade and long-life gold-copper mines. The project area has already delivered some strong indications of a big porphyry system near surface at Kaiser and, along with the results from this diamond drill hole at Boda, we can see clear evidence of Cadia-style mineralisation and grade over hundreds of metres. Alkane is immediately prioritizing follow up drilling, seeking to determine the scale of this highly encouraging discovery”.
Read the full announcement here.