Drilling at Kaiser Intersects Significant Au-Cu Mineralisation - Alkane Resources Ltd
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Drilling at Kaiser Intersects Significant Au-Cu Mineralisation

KSDD027 intersected two zones of gold-copper porphyry mineralisation with grades and alteration similar to Boda and significant assay results of:

KSDD027360m grading 0.38g/t Au, 0.15% Cu from 0m (Duke Zone)
incl7m grading 0.90g/t Au, 0.26% Cu from 119m
also6m grading 0.90g/t Au, 0.29% Cu from 204m
also6m grading 1.71g/t Au, 0.24% Cu from 332m
and442m grading 0.17g/t Au, 0.11% Cu from 422m
incl27m grading 0.31g/t Au , 0.13% Cu from 492m
also58m grading 0.28g/t Au, 0.16% Cu from 735m

The Duke Zone is currently interpreted from existing drilling to be approximately 250m wide, striking over 800m and open along strike and at depth.

Kaiser is located 1.5km northwest of the Boda porphyry discovery, within an open 4km northwest trending structural corridor hosting extensive alteration and gold-copper mineralisation with associated monzonite intrusives.

Diamond core hole KSDD027 was designed to test a conductive IP anomaly within the Duke Zone on the north-eastern flank of the Kaiser porphyry style mineralisation.

Drilling has continued at Boda, largely testing the southern extensions of the significant mineralised system, together with step out drilling from the very encouraging KSDD022 at Boda Two.

Assay results were received for four of the diamond core holes from the current program at Boda and Boda Two. The drilling continues to intersect extensive zones of gold-copper mineralisation. Significant intercepts include:

KSDD017152m grading 0.14g/t Au, 0.14% Cu from 88m
and4m grading 2.46g/t Au, 0.26% Cu from 454m
and18m grading 0.79g/t Au, 0.08% Cu from 541m
incl4m grading 2.91g/t Au, 0.03% Cu from 548m
and38m grading 0.35g/t Au, 0.11% Cu from 787m
KSDD018382m grading 0.26g/t Au, 0.12% Cu from 337m
incl22m grading 0.39g/t Au, 0.15% Cu from 463m
also33m grading 0.47g/t Au, 0.14% Cu from 587m

Boda drilling continues to test the dimensions and extensions to the large low-grade mineralised envelope as well as internal high-grade zones at Boda, and further assay results are expected in April 2021.

Alkane Managing Director, Nic Earner, said: “Our drilling program is revealing the emergence of an extensive mineralised system across Boda and Kaiser, consistent with our geological interpretation.

“Our drill program is revealing not only the very large scale of Boda, but potential repeat systems of significant scale within a structural corridor. These results give us added confidence to pursue our drilling campaign as we seek to identify what could potentially be a series of substantial deposits across our Northern Molong Porphory Project. Drilling continues and we look forward to bringing shareholders more results in April.”