Boda and Kaiser
The Boda and Kaiser prospects are within Alkane’s Northern Molong Porphyry Project, located in central New South Wales. Together, they comprise our Kaiser-Boda exploration target*, which forms a 5km long, 1km wide corridor.
In September 2019, Alkane announced the assay results of the Boda “discovery hole” KSDD003 (502m @ 0.48g/t Au, 0.20% Cu from 211m), which indicated the potential for a significant alkalic porphyry gold-copper system.
Since the discovery hole, we have continued extensive drilling and geophysical surveys at Boda and surrounds (including Boda 2, Boda 3 and the Kaiser-Duke corridor) to test the size and shape of the mineralisation.
We are still in the early stages of defining the complete Kaiser-Boda system, but the results of our drill programs are extremely encouraging. They confirm the presence of a very large mineralised corridor of up to 5km in length.
Initial Boda Resource
The initial Inferred Mineral Resource for the Boda deposit has been estimated at 10.1 million gold equivalent (AuEq)** ounces (ASX Announcement 30 May 2022).
This initial Boda resource estimate was confined to a surface area of 1,000m strike length and 500m width. It is based on approximately 71,400 metres of drilling, using a 0.3g/t AuEq cutoff deemed appropriate for potential open cut mining. We’ve included a sub-component for the potential use of bulk-tonnage underground mining using a cutoff grade of 0.4g/t.
Our ongoing drilling program continues to define the overall system and infill the initial Boda resource estimate. The Boda deposit remains open at depth and along strike to the south and along strike to the northwest, making it a genuine prospect for a large tonnage gold-copper development.
We are continuing the preliminary work required to further understand mining and processing options for the future.
*Kaiser-Boda target: 5km long, 1km wide corridor of monzonite intrusives, extensive propylitic to potassic alteration with gold and copper mineralisation. Numerous intercepts at Kaiser with a small high-grade historically mined body.
**The equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu%/100*31.1035*copper price ($/t)/gold price($/oz). The prices used were US$1,770/oz gold and US$9,750/t copper, and A$:US$0.70. Recoveries are assumed at 85% per economic element from preliminary metallurgical studies. In Alkane’s opinion all the elements included in the metal equivalents calculation have reasonable potential to be recovered and sold.