High Grade Zones Intersected at Boda by Revised Drilling Orientation - Alkane Resources Ltd
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High Grade Zones Intersected at Boda by Revised Drilling Orientation

Alkane announces intersection of further high-grade mineralisation at the Boda Prospect in Central New South Wales.

Reinterpretation of geology undertaken as drilling progressed at Boda suggested a northwest structural trend. One diamond core hole, KSDD028, was designed to intersect perpendicular to this northwest structural trend and the high-grade breccia identified by KSDD007 to further define its orientation and grade.

KSDD028 intersected Au-Cu porphyry mineralisation with high grades centred on a sulphide cemented breccia with significant assay results of:

KSDD028832m grading 0.38g/t Au, 0.17% Cu from 256m
incl266m grading 0.66g/t Au, 0.36% Cu from 764m
incl65m grading 1.98g/t Au, 1.13% Cu from 799m
incl25m grading 4.43g/t Au, 2.59% Cu from 838m

The drilling indicates a high-grade sulphide cemented breccia striking northwest with approximate true width 50m and plunging to the northeast. The sulphide breccia remains open along strike and down dip, and appears zoned becoming more Au-Cu mineralised down plunge, possibly vectoring towards a ‘causative’ intrusion to the Boda system.

Assay results were received for two other diamond core holes from the current program at Boda. The drilling continues to intersect extensive zones of Au-Cu mineralisation. Significant intercepts include:

KSRC033D366.8m grading 0.27g/t Au, 0.11% Cu from 0m
and52m grading 0.20g/t Au, 0.10% Cu from 414m
and6m grading 0.47g/t Au, 0.26% Cu from 598m
and38m grading 0.20g/t Au, 0.11% Cu from 636m
and149.2m grading 0.18g/t Au, 0.10% Cu from 728.8m

Drilling continues at Boda, adding further definition within and extensions to the identified mineralised system. Testing of targets within the northwest trending KaiserBoda corridor is continuing, together with step out drilling from the very encouraging KSDD022. Further assay results are expected in February 2021.

Alkane Managing Director Nic Earner said, “Hole 28 provides further clarity on the potential scale and orientation of a very high-grade brecciated zone. Follow-up drilling, consistent with the new orientation, is being expedited to test the extent of the continuity and down plunge of this highgrade zone.

“We have growing confidence in our geological interpretation of the Boda-Kaiser system and its potential.

“In addition to further targeting of the high-grade zone at the northern end of Boda, we expect follow up results stepping out from the encouraging Hole 22 result announced last month at the southern end of the currently identified mineralised system to be available early in the New Year.”