Alkane Resources Limited (ASX: ALK) has released an initial Kaiser resource following its extensive drilling programme at the company’s Kaiser Prospect in Central New South Wales, Australia.
The initial Inferred Mineral Resource for the Kaiser Deposit has been estimated at:
270Mt grading at 0.54g/t AuEq for 4.7Moz AuEq (0.48Mt Cu, 2.05Moz Au)
The estimate is based on approximately 49,400m of drilling using a 0.3g/t gold equivalent (AuEq) cutoff to the -140mRL deemed appropriate for potential open cut mining.
The Kaiser resource is located 500m northwest of Boda, 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.
Alkane also operates the nearby Tomingley Gold Operations.
“This addition of the Kaiser resource to Boda further demonstrates the significant potential of the Northern Molong Porphyry Project and Alkane’s large tenement package,” Managing Director, Nic Earner, said.
“Kaiser and Boda together now approaches 15 million gold equivalent ounces, and after adding Kaiser, copper now exceeds the value of gold in the system.
“We expect the resource to grow further as we continue to test extensions south of Boda and we’ll also conduct infill drilling to update Kaiser and Boda to Indicated resource classification before the end of the year.
“Alkane is also continuing the preliminary work that is required to further understand mining and processing options for the future and are looking to wrap these into a concept study as the Indicated Resource is released.”
The Project is located in central west NSW at the northern end of the Molong Volcanic Belt of the Macquarie Arc and is considered highly prospective for large scale porphyry and epithermal gold-copper deposits.
Exploration in the NMPP has identified five discrete magnetic/intrusive complexes – Kaiser, Boda, Comobella, Driell Creek and Finns Crossing – within a 15km northwest trending corridor. The corridor is defined by intermediate intrusives, lavas and breccias, extensive alteration and widespread, low-grade, gold-copper mineralization.
For further information please visit: https://www.alkane.com.au/