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

Elsienora (Gold – Base Metals; EL8550)

Alkane holds a 100% interest in the licences after buying out the vendor, Balamara Resources. The project is located 75km south of Blayney and is considered prospective for McPhillamys style gold mineralisation.

Current project status

RC drilling, as follow-up of detailed systematic soil geochemistry surveys, has identified several broad styles of mineralisation; vis a vis epigenetic orogenic Au (As, Bi, Sb) at Cuddyong Prospect (29m @1.53g/t Au from 0m [ELRC001] and 8m @ 3.14g/t Au from 30m [ELRC003])and syngenetic hydrothermal Ba (± Ag, Zn, Au) at Picker Prospect (8m @ 0.55g/t Au, 23.2g/t Ag, 0.24% Ba from 26m [ELRC012]).

The second phase of drilling was completed at the Cuddyong Prospect targeting surface geochemistry anomalies along strike from strong gold mineralisation intersected in ELRC001. The drilling successfully delineated a zone of strong sericite-pyrite alteration and quartz veining hosted predominantly in intermediate to mafic volcaniclastic sediments along a strike length of approximately 700 metres (using a>0.5g/t gold cut-off).

The better intercepts are:

  • ELRC018 – 8m grading 2.78g/t Au from surface – up dip from ELRC001; and
  • ELRC024 – 2m grading 2.60g/t Au from 44m – 200m along strike to the south from ELRC018

Evaluation of prospective stratigraphy south of the historic Elsienora workings with systematic soil geochemistry has not identified repetitions of the mineralisation. Existing drilling data from the ElsienoraVHMS system will be reassessed.