Mineralised System Continues to Grow at Boda - Alkane Resources Ltd
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Mineralised System Continues to Grow at Boda

Assay results have been received for a further 19 core and RC drill holes testing the extensive gold–copper mineralisation at Boda, Boda Two, Boda Three and Kaiser within the Northern Molong Porphyry Project (NMPP).

Drilling at Boda to delineate the strike and dip extent of the porphyry gold-copper mineralisation continues. The drilling to date has defined numerous mineralised sub-vertical and northwest striking, intrusive related-hydrothermal breccias central to the Boda gold-copper porphyry system.

Significant results are:

KSDD040155m grading 0.26g/t Au from 110m
and848m grading 0.29g/t Au, 0.17% Cu from 337m
incl103m grading 0.77g/t Au, 0.41% Cu from 671m
incl19m grading 1.36g/t Au, 0.51% Cu from 701m
also14m grading 1.42g/t Au, 1.03% Cu from 753m
KSDD042676m grading 0.39g/t Au, 0.16% Cu from 116m
incl1m grading 9.38g/t Au from 281m
also30m grading 1.29g/t Au, 0.21% Cu from 312m
also11m grading 1.24g/t Au, 1.66% Cu from 547m
and60m grading 0.86g/t Au, 0.52% Cu from 622m
incl11m grading 2.88g/t Au, 1.03% Cu from 622m
incl1m grading 18.6g/t Au, 1.70% Cu from 627m
KSDD04591m grading 0.23g/t Au, 0.05% Cu from 37m
and679m grading 0.30g/t Au, 0.15% Cu from 161m
incl21m grading 1.11g/t Au, 0.28% Cu from 250m
also72m grading 0.75g/t Au, 0.30% Cu from 405m
also8m grading 2.17g/t Au, 0.90% Cu from 803m
BOD05562m grading 0.93g/t Au from 214m
incl24m grading 1.99g/t Au from 240m
incl6m grading 5.24g/t Au from 258m

These recent results are part of a nominal 50m x 100m drill hole grid sequence for the purpose of calculating a maiden resource estimate for Boda in the first quarter of 2022.

The outcropping Duke Zone at Kaiser, located 1.5km northwest of Boda, is approximately 250m wide and over 800m in strike length. The Duke zone was further tested with four drill holes and recent results include significant intercepts of:

KSDD0369m grading 0.35g/t Au, 0.12% Cu, 38ppm Mo from 138m
and205m grading 0.17g/t Au, 0.17% Cu, 22ppm Mo from 290m
incl66m grading 0.24g/t Au, 0.30% Cu, 27ppm Mo from 290m
also8.8m grading 0.25g/t Au, 0.34% Cu, 171ppm Mo from 399m
and250.2m grading 0.18g/t Au, 0.11% Cu from 575.8m
KSDD0372m grading 4.94g/t Au from 185m
and3m grading 1.98g/t Au from 417m
and30m grading 0.71g/t Au from 461m
incl2m grading 4.02g/t Au from 474m
and201m grading 0.25g/t Au, 0.16% Cu from 796m
incl12m grading 0.77g/t Au, 0.28% Cu from 898m
KSDD038451m grading 0.21g/t Au, 0.12% Cu from 9m
incl82m grading 0.40g/t Au, 0.31% Cu from 310m
and174m grading 0.12g/t Au, 0.13% Cu from 557m
and53m grading 0.32g/t Au, 0.10% Cu from 1,062m
incl3m grading 2.33g/t Au , 0.71% Cu from 1,103m
KAI039120m grading 0.23g/t Au, 0.16% Cu from 6m
incl12m grading 0.42g/t Au, 0.40% Cu from 81m
and1m grading 1.23g/t Au, 0.06% Cu from 187m

Drilling at Boda Two and Boda Three further confirmed the extensive gold-copper mineralisation, with significant intercepts of:

KSDD035159m grading 0.11g/t Au, 0.10% Cu from 0m
incl9m grading 0.37g/t Au, 0.24% Cu from 0m
and73m grading 0.09g/t Au, 0.11% Cu from 324m
and42m grading 0.22g/t Au, 0.16% Cu from 605m
BOD053185m grading 0.13g/t Au, 0.20% Cu from 100m
incl32m grading 0.31g/t Au, 0.33% Cu from 122m

Boda Two and Boda Three prospects are currently defined by a 1,100m by 500m coincident gold-copper soil and magnetic high footprint with separate conductive IP anomalies. Further drilling is planned targeting high-grade zones within the broad lowgrade mineralisation.

Alkane Managing Director, Nic Earner, said, “Our systematic evaluation of Boda continues to deliver results. The mineralised system is growing, as is our understanding the nearby Duke and Kaiser deposits. We will continue to use these results to plan and deliver the forward drilling program, with further extensions expected.

The information we are gathering is expected to put us in a position to declare a maiden resource estimate for Boda in the first quarter of 2022.”