Alkane announces an update to its drilling program at the Company’s Boda Prospect in Central New South Wales. Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project, which the Company believes has the potential to be a large, tier one gold-copper project. Alkane also operates the nearby Tomingley Gold Operations (‘Tomingley’).
The first stage of resource drilling at Boda, centred on the higher-grade gold-copper mineralisation, is nearing completion.
Drilling currently suggests the higher-grade central zone has a strike length of 500m, is up to 400m wide, at least 900m deep and extends to surface within the larger, low grade alteration envelope that runs approximately three kilometres from Kaiser to Boda Three.
Recent assays from the Boda resource drilling include:
| BOD063 | 557m grading 0.52g/t Au, 0.12% Cu from 147m |
| incl | 207m grading 0.65g/t Au from 147m (gold only flanking zone) |
| incl | 12m grading 5.54g/t Au from 296m (gold only flanking zone) |
| incl | 2m grading 28.9g/t Au from 305m (gold only flanking zone) |
| also | 26m grading 1.00g/t Au, 0.18% Cu from 392m |
| also | 27m grading 0.88g/t Au, 0.30% Cu from 441m |
| incl | 4m grading 3.43g/t Au, 1.03% Cu from 645m |
| and | 37m grading 0.36g/t Au, 0.14% Cu from 784m |
| and | 88.4m grading 0.21g/t Au, 0.18% Cu from 963m |
| BOD074 | 639m grading 0.36g/t Au, 0.14% Cu from surface |
| incl | 115m grading 0.75g/t Au, 0.32% Cu from 392m |
| incl | 45.7m grading 1.18g/t Au, 0.44% Cu from 474.3 |
| also | 6m grading 1.58g/t Au, 0.11% Cu from 189m |
| BOD056 | 466m grading 0.34g/t Au, 0.14% Cu from 60m |
| incl | 20m grading 1.14g/t Au, 0.16% Cu from 275m |
| also | 13m grading 0.75g/t Au, 0.28% Cu from 316m |
| also | 21m grading 0.56g/t Au, 0.39% Cu from 487m |
| and | 10m grading 0.30g/t Au, 0.12% Cu from 608m |
| and | 13m grading 0.20g/t Au, 0.13% Cu from 624m |
| and | 74m grading 0.15g/t Au, 0.12% Cu from 746m |
| incl | 3.4m grading 0.43g/t Au, 0.43% Cu from 795.6m |
| and | 22m grading 0.20g/t Au, 0.14% Cu from 885m |
Drilling also continues to define the extent of a significant lower-grade gold-copper mineralised system at the Boda Two and Boda Three prospects. Results include:
| KSDD049 | 561m grading 0.19g/t Au, 0.12% Cu from 293m |
| incl | 9m grading 0.63g/t Au, 0.25% Cu from 398m |
| also | 26m grading 0.42g/t Au, 0.18% Cu from 782m |
Final assays from the Boda higher-grade resource drilling are scheduled for March and will be incorporated into the maiden resource estimation database. These assays have been delayed in the laboratory due to the recent wave of Covid-19 cases in NSW, as a result the initial Boda resource is now expected in April 2022.
Targeting of higher-grade zones within the extensive mineralisation at Boda Two/Three will commence once the initial results from that drilling have been received in Q2 2022.
Two RC drilling rigs have also commenced work on the Kaiser-Duke prospect. A 13,000m drilling program using a 100m x 100m drill hole grid sequence to 300m vertical depth is planned for the purpose of an initial resource estimate of the near-surface material.
Alkane Managing Director, Nic Earner, said: “Our resource drilling program is methodically growing our knowledge of the higher-grade material at Boda.
“We have experienced some delays at the laboratory, pushing our initial resource model back to April. Boda is just the first of the resource models we expect to put together in this area and we look forward to bringing Boda and subsequent models to investors, as we develop our understanding of what is emerging as a tier-one resource in a great location.”