Kaiser RC Drilling Delineates Significant Au-Cu Mineralisation - Alkane Resources Ltd
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Kaiser RC Drilling Delineates Significant Au-Cu Mineralisation

Alkane announces the first set of results from its initial resource drilling program at the Company’s Kaiser Prospect in Central New South Wales.

Kaiser is to the immediate north-west of the landmark Boda 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.

Initial results returned for the Reverse Circulation (RC) drilling program at the Kaiser prospect identified multiple zones of significant gold-copper mineralisation including:

KAI057357m grading 0.23g/t Au, 0.25% Cu from 7m
incl173m grading 0.34g/t Au, 0.42% Cu from 87m
incl37m grading 0.97g/t Au, 1.0% Cu from 113m
KAI053177m grading 0.32g/t Au, 0.14% Cu from surface
incl36m grading 0.53g/t Au, 0.24% Cu from 9m
also29m grading 0.68g/t Au, 0.20% Cu from 73m
incl1m grading 11.05g/t Au, 1.35% Cu from 75m

At Boda Two, results were received for diamond core drill holes KSDD050 and BOD061, testing the southern extension of gold-rich pyrite mineralisation intersected in KSDD022 as well as north-south continuation of broad gold-copper mineralisation intersected in previously announced drillholes. Significant intercepts are:

KSDD050306m grading 0.57g/t Au, 0.04% Cu from 928m
incl34m grading 0.36g/t Au, 0.16% Cu from 1045m
also155m grading 0.80g/t Au, 0.02% Cu from 1079m
incl38m grading 1.9g/t Au, 0.02% Cu from 1106m
incl1m grading 28.4g/t Au, 0.02% Cu from 1135m
BOD061522m grading 0.28g/t Au, 0.14% Cu from 855m
incl56m grading 0.73g/t Au, 0.28% Cu from 1232m
and57m grading 0.38g/t Au, 0.16% Cu from 1436m

The initial 100m x 100m RC drilling at the Kaiser prospect to identify shallow open pittable mineralisation is near competition with a diamond core rig mobilised to tail selected RC holes to greater depths.

The recently completed Induced Polarisation (IP) with Magnetotelluric (MT) survey undertaken over the north-west structural corridor area extending 5km north-west of Kaiser, has identified two high-priority targets which are to be drill tested in the near future.

A major RC and diamond core infill drilling program has been designed at the Boda Two and Boda Three prospects. The drilling program will decrease the drill hole spacing to an average of approximately 75m spacing. Pending approvals this drilling will commence in August 2022.

KSDD050 – A 30cm long pyrite vein breccia within a 1m sample that is grading 28.40g/t Au, 0.02% Cu from 1135m

Alkane Managing Director, Nic Earner, said: “As anticipated, the RC drilling program at Kaiser is showing that mineralisation is both extensive and reaches the surface. Drilling at Kaiser continues, and an initial resource estimate is scheduled for preparation and release in the coming months.

“The team is also drilling south of the Boda resource at Boda Two and Three to follow up on the higher-grade mineralisation previously identified. Planning is also underway to drill other nearby targets identified by the recent IP and MT surveys.

“These results build on the initial Boda resource released in May and are encouraging confirmation that the Northern Molong Porphyry Project has significant potential yet to be unlocked.”