Alkane Resources Ltd (ASX:ALK) has revealed the full set of drilling results from the Kaiser prospect of the Northern Molong Porphyry Project in Central New South Wales, clearing the way for resource modelling to begin for the prospect’s maiden estimate.
The company struck notable gold-copper porphyry mineralisation in drilling, with very broad intersections. Results of note include:
KAI085
- 447 metres grading 0.46g/t gold equivalent (0.30g/t gold, 0.11% copper) from 78 metres, including:
- 32 metres grading 1.28g/t gold equivalent (1.02g/t gold, 0.18% copper) from 309 metres; and
- 4 metres grading 4.13g/t gold equivalent (3.65g/t gold, 0.33% copper) from 331 metres.
KAI076
- 63 metres grading 0.56g/t gold equivalent (0.39g/t gold, 0.12% copper) from surface;
- 72 metres grading 0.47g/t gold equivalent (0.24g/t gold, 0.16% copper) from 150 metres; and
- 83 metres grading 0.37g/t gold equivalent (0.18g/t gold, 0.13% copper) from 542 metres.
Higher copper grades at northwest Kaiser
This latest set of drilling confirmed Alkane’s interpretation of the northwest section of the Kaiser prospect, where results have indicated the presence of higher-grade copper.
KAI086
- 15 metres grading 1.02g/t gold equivalent (0.48% copper, 0.32g/t gold) from 409 metres;
- 126 metres grading 0.56g/t gold equivalent (0.21% copper, 0.26g/t gold) from 515 metres, including:
- 20.3 metres grading 1.26g/t gold equivalent (0.46% copper, 0.59g/t gold) from 521.1 metres.
KAI094
- 95 metres grading 0.76g/t gold equivalent (0.31% copper, 0.31g/t gold) from 92 metres, including:
- 8 metres grading 2.32g/t gold equivalent (0.71% copper, 1.29g/t gold) from 102 metres;
- 18 metres grading 1.16g/t gold equivalent (0.42% copper, 0.55g/t gold) from 159 metres, and
- 68 metres grading 0.37g/t gold equivalent (0.16% copper, 0.14g/t gold) from 349 metres.
KAI097
- 27 metres grading 1.05g/t gold equivalent (0.42% copper, 0.44g/t gold) from 564 metres, including:
- 3 metres grading 6.18g/t gold equivalent (2.11% copper, 3.12g/t gold) from 564.4 metres.
Resource estimate expected next quarter
“We are pleased to see continued consistency in the final drill results from the initial shallow resource drilling program at Kaiser,” Alkane Resources managing director Nic Earner said.
“We can now complete our initial JORC resource estimation in the coming quarter, Q1 2023.
“When ground conditions improve we are looking to mobilise additional drill capacity to allow evaluation of regional targets to occur in parallel to currently planned drilling through 2023.”
Kaiser sits about 1-kilometre from the Boda inferred resource of 5.2 million ounces gold, 900,000 million tonnes copper, where two high-capacity diamond drilling rigs are in operation.
As stated above, Alkane intends to bring on more drill capacity as ground conditions improve, allowing for simultaneous evaluation of regional targets generated by drilling, aeromagnetic and electrical geophysics results expected to be generated in 2023.