High-grade mineralisation from surface at Boda - Alkane Resources Ltd
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High-grade mineralisation from surface at Boda

Alkane is pleased to announce the intersection of further high-grade mineralisation at its Boda Prospect in Central New South Wales. Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project, which the Alkane believes has the potential to be a large, tier one gold-copper project

Reverse Circulation (RC) drilling to test for shallow extensions to the high-grade breccia first identified by KSDD007, intersected significant gold and copper grades from surface with substantial assay results of:

KSRC04331m grading 2.94g/t Au, 0.97% Cu from surface
incl9m grading 9.43g/t Au, 2.65% Cu from surface
KSRC04214m grading 0.40g/t Au, 0.11% Cu from 74m
and226m grading 0.35g/t Au, 0.15% Cu from 108m
incl10m grading 0.72g/t Au, 0.40% Cu from 157m
also9m grading 0.73g/t Au, 0.50% Cu from 290m

Previously advised RC drill hole (KSRC038), which ended in mineralisation, was diamond core tailed (KSRC038D) to also test for up-dip and strike continuation of the high-grade breccia. The hole intersected a sulphide cemented breccia within a broad zone of gold-copper porphyry mineralisation with significant assay results of:

KSRC038D711m grading 0.36g/t Au, 0.10% Cu from 118m
incl17m grading 0.92g/t Au, 0.03% Cu from 302m
also12m grading 1.93g/t Au, 0.20% Cu from 341m
also17m grading 0.91g/t Au, 0.43% Cu from 501m
also1m grading 15.2g/t Au, 0.14% Cu from 756m

A deep diamond core hole (KSDD034) with a wedge hole (KSDD034W2), tested down-dip of the high-grade breccia. KSDD034W2 intersected a possible feeder structure and conduit to the breccia with significant assay results of:

KSDD034W2604m grading 0.13g/t Au, 0.14% Cu from 1,146m
incl61m grading 0.10g/t Au, 0.26% Cu from 1,147m
incl8m grading 0.25g/t Au, 0.61% Cu from 1,157m
also32m grading 0.25g/t Au, 0.20% Cu from 1,249m

These recent drilling results indicate the high-grade sulphide cemented breccia at Boda has a vertical extension of at least 800 metres, strikes northwest and dips sub-vertically to steeply to the northeast. Ongoing drilling will continue to define its dimensions.

Results were also received from diamond core drill hole KSDD033, testing the southern extensions to the mineralisation at Boda Two. The drill hole defined a zone of extensive gold-copper porphyry mineralisation, with significant intercepts of:

KSDD033995m grading 0.19g/t Au, 0.12% Cu from 322m
incl8m grading 1.14g/t Au, 0.30% Cu from 894m
also14m grading 0.49g/t Au, 0.23% Cu from 968m
also30m grading 0.39g/t Au, 0.20% Cu from 1052m
also7m grading 0.55g/t Au, 0.38% Cu from 1243m
and21m grading 0.36g/t Au, 0.11% Cu from 1517m

Drilling continues at Boda, Boda Two, Boda Three and Kaiser-Duke utilising two diamond core rigs and one high-capacity RC rig onsite, testing extensions and adding definition to the identified mineralised systems.

Alkane Managing Director, Nic Earner, said, “The high-grade breccia zone at surface not only further emphasises the large vertical depth of the system, but also gives rise to considering open cut as a potential mining method at Boda.

“We’re continuing our exploration program across the Porphyry Project, and we are planning a further 60,000 metres of drilling over the coming financial year. This substantial exploration program is designed to continue defining the internal high-grade zones within the extensive lowgrade mineralised envelopes at Boda, Boda Two and Kaiser prospects, as well as testing the corridor between the Boda and Kaiser targets.

“The drilling will also help us to identify further targets to contribute to the geological and structural understanding of the 15km intrusive corridor that extends from Boda South to Finns Crossing.”

Alkane also operates the nearby Tomingley Gold Operations (‘TGO’) and is working towards its stated ambition of becoming Australia’s next multi-mine gold producer

Alkane’s MD Nic Earner and Technical Director Ian Chalmers explain the Boda prospect