Northern Molong Belt Porphyry Project (Gold-Copper; EL4022, EL6209, EL8261)
Encompassing three exploration licences (EL4022 – Bodangora, EL6209 – Kaiser* and EL8261 – Finns Crossing), the Northern Molong Porphyry Project (NMPP) covers an area of 110 square kilometres, centred about 20km north of Wellington and about 35km east of Dubbo in Central Western New South Wales.
The project covers a large portion of the northern Ordovician-aged Molong Volcanic Belt, which is highly prospective for alkali porphyry-related gold-copper mineralisation. Porphyry deposits are typically large, low- to medium-grade deposits that can be mined using mass mining techniques – as seen with the Cadia Valley deposits near Orange.
Alkane’s exploration activity has established a geological framework for the project area that highlights strong similarities with the Cadia district. Our reconstruction of the geology shows the existence of a stratigraphic sequence very similar to that at Cadia. It also shows that gold-copper mineralisation is hosted by very similar rock types at similar stratigraphic positions – notably the intersections of major magnetic/intrusive complexes.
Alkane has a number of exploration prospects located at the intersections of five identified magnetic complexes (Kaiser, Boda, Comobella, Driell Creek and Finns Crossing) within a 15km northwest trending corridor. These prospects are being drilled in stages as we explore the extent of the mineralisation.
Our 2019 drilling program led to the discovery of significant porphyry-style gold-copper mineralisation at the Boda Prospect, located at the western margin of the Boda Magnetic Complex (ASX Announcement 9 September 2019 ). A single diamond drill hole indicated Cadia-style mineralisation and grade over hundreds of metres. Significant intersections of porphyry mineralisation have also been reported along the western margin of the Kaiser Magnetic Complex (Kaiser Prospect). Further diamond drilling will seek to determine the scale of this highly encouraging discovery.
Map of Exploration Prospects
*Kaiser (EL6209) covers approximately 127ha and is fully enclosed by the Bodangora licence. Alkane holds a 100% interest in this licence; however, Ajax Joinery Pty Ltd retains a 2% net smelter royalty over any production from within the licence area.