Boda-Kaiser
A potential tier-one gold-copper project in NSW
Boda-Kaiser is emerging as a potential tier-one gold-copper project
Situated in our Northern Molong Porphyry Project in central New South Wales, the combined Boda-Kaiser resources so far represent a total metal inventory of 8.4 million ounces of gold and 1.5 million tonnes of copper.
Alkane believes Boda-Kaiser is a genuine prospect for a large-tonnage gold-copper development, incorporating a mix of open cut and underground mining. Since the orebody is large and extends very deep, it will take some years of further work to get to the point of development.
Alkane won the NSW Minerals Council’s Explorer of the Year award in 2021 and 2023 for the Boda and Kaiser discoveries respectively.
Project news
The Boda Corridor
The Boda and Kaiser resources lie within a corridor of extensive calc-potassic alteration associated with alkalic gold-copper porphyry mineralisation some 3.5km in length. The corridor trends north from Boda 2-3 to Boda, where it rotates northwest from Boda to Kaiser.
Alkane’s drilling program continues in the Boda-Kaiser corridor, testing northwest and southern extensions – including the Boda 2-3 and Boda 4 prospects.
Alkane discovered the first evidence of extensive gold-copper porphyry mineralisation at Boda in September 2019.
The Boda Corridor
The Boda and Kaiser resources lie within a corridor of extensive calc-potassic alteration associated with alkalic gold-copper porphyry mineralisation some 3.5km in length. The corridor trends north from Boda 2-3 to Boda, where it rotates northwest from Boda to Kaiser.
Alkane’s drilling program continues in the Boda-Kaiser corridor, testing northwest and southern extensions – including the Boda 2-3 and Boda 4 prospects.
Alkane discovered the first evidence of extensive gold-copper porphyry mineralisation at Boda in September 2019.
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Boda-Kaiser mineral resources
Alkane released the initial Inferred Mineral Resource Estimate for the Boda deposit on 30 May 2022, and an updated estimate on 14 December 2023. The initial Inferred Mineral Resource Estimate for the nearby Kaiser deposit was released on 27 February 2023.
The Boda resource (indicated + inferred) has been estimated at 6.38 million ounces of gold and 1.03 million tonnes of copper. It is a large, low-grade deposit with a surface projection approximately 1.75km long and 500m wide.
Kaiser is a shallow resource estimated at 2.05 million ounces of gold and 0.48 million tonnes of copper. Its surface projection is approximately 1.1km long and 700m wide. It has a higher copper grade than the Boda deposit.
Both resources remain open at depth and along strike. Alkane hopes to upgrade the Kaiser resource to Indicated status by early 2024.
| Deposit | INDICATED | INFERRED | TOTAL | METAL | |||||||||
| Tonnes (Mt) | Au (g/t) | Cu (%) | Tonnes (Mt) | Au (g/t) | Cu (%) | Tonnes (Mt) | AuEq* (g/t) | Au (g/t) | Cu (%) | AuEq* (Moz) | Au (Moz) | Cu (Mt) | |
| Open Pittable Resources (cut off 0.3g/t AuEq) | |||||||||||||
| Boda | 191 | 0.36 | 0.17 | 42 | 0.29 | 0.16 | 233 | 0.58 | 0.35 | 0.17 | 4.31 | 2.60 | 0.39 |
| Kaiser | - | - | - | 270 | 0.24 | 0.18 | 270 | 0.54** | 0.24 | 0.18 | 4.72** | 2.05 | 0.48 |
| Sub Total | 191 | 0.36 | 0.17 | 311 | 0.24 | 0.18 | 503 | 0.56 | 0.29 | 0.17 | 9.03 | 4.65 | 0.87 |
| Underground Resources (cut off 0.4g/t AuEq) | |||||||||||||
| Boda | 151 | 0.34 | 0.20 | 198 | 0.34 | 0.18 | 350 | 0.59 | 0.34 | 0.18 | 6.63 | 3.78 | 0.65 |
| Total | 343 | 0.35 | 0.18 | 510 | 0.28 | 0.18 | 853 | 0.57 | 0.31 | 0.18 | 15.7 | 8.43 | 1.52 |
The figures used to calculate Mineral Resources are more precise than the rounded numbers shown in the tables, hence small differences may result if the calculations are repeated using the tabulated figures.
*The equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu%/100*31.1035*copper price ($/t)/gold price($/oz). 12-month average metal prices were used of US$1,950/oz gold and US$8,600/t copper, and A$:US$0.67. Recoveries are estimated at 87% for Cu and 81% for Au from metallurgical studies.
**AuEq calculated using rates from Kaiser resource ASX announcement dated 27 February 2023.
Project significance
The combined Boda-Kaiser resources are among the most significant gold-copper resources defined in NSW in the last 10 years.
Development of Boda-Kaiser would found a new large-scale, multigenerational gold-copper mine in the Dubbo Regional Council LGA. It has the potential to create large-scale employment and generate a significant boost to the local and state economy.
Such a development would be highly significant for Alkane, having the potential to grow us from a junior gold mining company to a mid-tier gold producer.
Development of Boda-Kaiser would also help realise the potential of NSW’s copper industry. Copper is a critical metal for the electrification of transport and renewable energy technologies, making it important to global value chains.
The Northern Molong Porphyry Project
The Northern Molong Porphyry Project (NMPP) is located in the Central West region of NSW, centred about 20km north of Wellington and about 35km east of Dubbo.
Alkane’s exploration activity is covered by five exploration licences across 180 square km. We have a number of exploration targets adjacent to magnetic/intrusive complexes located in a 15km northwest trending corridor.
