Significant Expansion to Mineralisation at Boda - Alkane Resources Ltd
Level 12, 37 Bligh Street +61 2 8233 6168

Significant Expansion to Mineralisation at Boda

Alkane announces a significant expansion of the mineralisation at the Boda discovery in Central New South Wales.  Boda is a landmark 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.

Key points

  • Drilling at Boda has intersected further extensive zones of gold-copper mineralisation, more than doubling the size of the immediate target zone identified by the discovery drill program in September 2019.
  • Drilling shows a subvertical elliptical zone of significant gold-copper mineralisation indicative of a large alkalic porphyry system of 400 metres width that is over 1,000 metres north-south strike length and more than 1,100 metres vertically.
  • The extension of mineralisation to the south is driven by assay results received from a diamond core drill hole 500 metres south of the original Boda gold-copper mineralisation.
  • This hole was designed to test the Boda Two conductive anomaly identified by 3D-IP electrical geophysics. The hole intersected significant gold mineralisation indicative of a large pyrite shell to another porphyry system:
KSDD022102m grading 0.24g/t AuEq* (0.22g/t Au, 0.02% Cu) from 685m
and292m grading 0.66g/t AuEq (0.64g/t Au, 0.02% Cu) from 867m
incl24m grading 1.87g/t AuEq (1.81g/t Au, 0.03% Cu) from 1108m
  • At Boda the drilling continues to intersect extensive zones of gold-copper mineralisation. Significant intercepts include:
KSDD010851m grading 0.26g/t AuEq (0.17g/t Au, 0.10% Cu) from 293m
Incl20m grading 0.91g/t AuEq (0.71g/t Au, 0.19% Cu) from 362m
and5m grading 2.15g/t AuEq (2.11g/t Au, 0.03% Cu) from 1139m
KSDD011222m grading 0.33g/t AuEq (0.32g/t Au, 0.05% Cu) from 9m
and877m grading 0.21g/t AuEq (0.14g/t Au, 0.11% Cu) from 391m
incl97m grading 0.39g/t AuEq (0.21g/t Au, 0.17% Cu) from 904m
and10m grading 0.48g/t AuEq (0.22g/t Au, 0.25% Cu) from 1544m
KSDD0121,159m grading 0.30g/t AuEq (0.18g/t Au, 0.12% Cu) from 39m
Incl133m grading 0.49g/t AuEq (0.29g/t Au, 0.20% Cu) from 671m
and63m grading 0.53g/t AuEq (0.33g/t Au, 0.18% Cu) from 1007m
KSDD013834m grading 0.38g/t AuEq (0.24g/t Au, 0.12% Cu) from 198m
incl323m grading 0.54g/t AuEq (0.28g/t Au, 0.24% Cu) from 623m
incl29m grading 1.07g/t AuEq (0.60g/t Au, 0.45% Cu) from 672m
and24m grading 1.45g/t AuEq (0.59g/t Au, 0.81% Cu) from 804m
KSRC032503m grading 0.22g/t AuEq (0.10g/t Au, 0.11% Cu) from 0m to end of hole
incl57m grading 0.55g/t AuEq (0.28g/t Au, 0.25% Cu) from 446m to end of hole
KSRC038404m grading 0.42g/t AuEq (0.35g/t Au, 0.07% Cu) from 94m to end of hole
Incl17m grading 0.96g/t AuEq (0.92g/t Au, 0.03% Cu) from 302m
and12m grading 2.14g/t AuEq (1.93g/t Au, 0.20% Cu) from 341m
  • Drilling continues at Boda targeting the high-grade mineralisation as well, adding further definition within and extensions to the identified mineralised system.
  • A second diamond drilling rig has mobilised to the project and drill testing of targets within the northwest trending Kaiser-Boda corridor including the conductive IP anomaly at Kaiser is also underway.

Alkane Managing Director, Nic Earner, said, “The Boda discovery just keeps getting bigger and bigger. We have extended the mineralisation to the north, and, to the south, we have either an extension or a whole new system emerging. We believe Boda is shaping up to be a large, tier one gold-copper porphyry project.

“We’ve mobilised a second diamond rig to site and are currently targeting the identified high grade areas, infilling the very long and deep mineralised system and testing identified anomalies at Kaiser and further to the south of Boda, an area about 5 kilometres in length.

“We anticipate being able to report the next round of results from this campaign in late December this year.”

Alkane also operates the nearby Tomingley Gold Operations and is working towards becoming Australia’s next multi-mine gold producer.