Alkane Resources’ (ASX:ALK) confident in the Boda Prospect at its Northern Molong Porphyry Project (NMPP) in NSW has been boosted by the results of a new drill hole.
The single diamond core drill hole targeted an area 20om below a zone of gold-copper mineralisation previously defined in diamond drilling (507m @ 0.48g/t Au, 0.20% Cu from 211m) in 2019.
Alkane Resources’ (ASX:ALK) Managing Director, Nic Earner, said the assay results from the new hole indicate an increase in thickness of significant porphyry gold-copper mineralisation with depth. Drill intercept highlights include: 689m @ 0.46g/t gold, 0.19% copper from 402 metres; 312m @ 0.70g/t gold, 0.19% copper from 402 metres; 119m @ 1.47g/t gold, 0.29% copper from 463 metres; 10m @ 3.77g/t gold, 0.63% copper from 464 metres; and 12m @ 4.38g/t gold, 0.75% copper from 564 metres.
The drilling is part of a 5,000 metre diamond core drilling exploration program to test the depth and strike extensions to the significant porphyry gold-copper mineralisation at Boda.
The Boda Prospect is part of the Northern Molong Porphyry Project (NMPP) which incorporates exploration licences covering an area of 110 sq. km of the northern Molong Volcanic Belt (MVB), in the Central West of New South Wales.
“These drill results give us further encouragement that the Boda Prospect is a significant discovery,” Mr Earner said.
“The continuation of grade at depth and the consistency of mineralisation are further evidence of a big porphyry system.
“Alkane is continuing its follow up drilling, we look forward to bring shareholders further results as they become available”.
The Northern Molong Porphyry Project (NMPP) incorporates four exploration licences; Bodangora (EL 4022), Boda South (EL 8887), Kaiser (EL 6209) and Finns Crossing (EL 8361), covering an area of 115km2 of the northern Molong Volcanic Belt (MVB), in the Central West of New South Wales.
The NMPP is located close to the major regional centres of Dubbo and Orange, which together with Parkes and Wellington, service several major mines in the district including Alkane’s own Tomingley Gold Operations. In addition, the NMPP is close to road, rail, power, gas and water infrastructure.
The northern MVB, within the eastern Lachlan Orogen is considered highly prospective for large porphyry gold-copper mineralisation, as demonstrated by the presence of the world class Cadia Valley porphyry district located 110 km to the south.