Orange East Project - Alkane Resources Ltd
Level 12, 37 Bligh Street +61 2 8233 6168 contact@irmau.com

Orange East Project (Gold – Copper; ELA5234)

Located approximately 15 kilometres east-south-east of Orange, Alkane can earn up to 80% in this project area thought prospective for McPhillamys styled gold mineralization. Clancy Exploration Limited (CLY) can retain a 20% interest.

Current project status

The project area shows great similarities to the McPhillamys deposit area being about 15 kilometres along strike to the north and within an area of north-south structural complexity and on the western margin of the Hill End Trough. Stratigraphically the area is characterised by a basal sequence of Ordovician aged andesitic and mafic rocks which are in faulted or unconformable contact with Late Silurian rocks with similarity to the fine-grained andesitic volcaniclastics and conglomerates observed at McPhillamys.

The project area hosts the historic Carangara copper workings at Byng which operated between 1850and 1875, however, the most compelling exploration target is at the Gunnarbee prospect where a multi-element soil geochemical anomaly, with a similar elemental suite to the surface anomaly at McPhillamys, has been outlined over an area of 1000m by 500m. The soil anomaly has not been drill tested.

Once the licence has been granted, Alkane’s approach will be to undertake a complete geological review and a synthesis of all datasets followed by the infill of areas currently not covered with soil geochemistry and ground geophysics. Drilling of highest priority targets will be undertaken once land access has been granted.