Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has unveiled a fresh round of encouraging drill results from its regional exploration campaign at the Northern Molong Porphyry Project (NMPP) in central west New South Wales, further extending the potential of its Boda-Kaiser gold-copper corridor.
The latest campaign targeted extensions to known mineralisation at Boda 2-3, tested new ground at the Driell Creek prospect and advanced broader reconnaissance across the tenement package. Results confirm the presence of high-grade breccia zones and reinforce the regional scale of mineralisation within the porphyry system.
Managing director and CEO Nic Earner said the results continued to build the case for a future development.
“This drilling program is part of our ongoing exploration, seeking to find further deposits similar to Boda and Kaiser across the Northern Molong Porphyry tenement package,” Earner said.
“We are also testing further extensions to Boda-Kaiser, of which these latest results are quite encouraging,” he added. “Our scoping study results are very positive, particularly at current metal prices — any further mineralisation discovered will continue to add to the business case.”
High-grade breccia confirmed at Boda 2-3
Two diamond holes at Boda 2-3 (BOD164 and BOD165) confirmed the vertical extent of high-grade hydrothermal breccia, intersecting zones of gold-copper mineralisation up to 3.08 g/t gold equivalent (AuEq).
Highlights from BOD164 include:
- 125.1 metres at 0.61 g/t AuEq from 190 metres, including 13 metres at 1.59 g/t AuEq.
- 53.3 metres at 1.21 g/t AuEq from 1,059.7 metres, including 6 metres at 3.08 g/t AuEq.
Follow-up reverse-circulation (RC) drilling (BOD160 and BOD162) also intersected gold-copper mineralised, calc-potassic altered volcanics to the southeast, indicating the resource remains open in that direction.
Driell Creek follow-up drilling refines structure and targets
At the Driell Creek prospect, around 3 kilometres northwest of Kaiser, recent drilling returned modest gold and copper intervals, including 2 metres at 1.11 g/t gold and 17 metres at 0.20% copper in hole DRC011.
Much of the program encountered faulted or weakly mineralised ground, but subsequent structural and lithogeochemical modelling has clarified the prospect’s architecture. According to Alkane, the geochemical signature — including elevated arsenic and antimony — suggests “proximity to a significant hydrothermal system”.
The company believes the interpreted fault zones and geochemical trends may point to a porphyry system at depth, with future deeper drilling targets to be refined based on ongoing modelling.
Ongoing work to refine regional targets
Alkane’s exploration over the past year included 7,616 metres of drilling across Boda 2-3, Kaiser, and Driell Creek, as well as geophysical surveys at Haddington and Boda South. Planned work over the next 12 months includes a helicopter-borne magnetotelluric (MobileMT) survey covering 164 square kilometres to refine porphyry system targets, alongside further soil sampling, air-core drilling and targeted deep holes.
A new shallow RC drillhole is also planned at Kaiser to follow up on a high-grade intercept of 8.6 metres at 14.5 g/t gold reported earlier this year.
Building momentum after FY25 gold production and merger milestones
The update follows a strong finish to FY25, with Alkane on July 7 reporting 70,120 ounces of gold produced at its Tomingley operations, meeting guidance and boosting its cash balance to $68.3 million.
Read more: Alkane Resources produces 70,120oz gold in FY2025, meeting guidance and boosting cash to A$68.3M
It also comes shortly after the company secured Australian regulatory approvals for its proposed merger with Canada’s Mandalay Resources, a move expected to create a diversified gold and antimony producer with three operating mines.
Read more: FIRB and ASIC approvals clear path for Alkane Resources–Mandalay merger
With exploration continuing to extend the Boda-Kaiser system and support an economic development pathway, Alkane is pushing ahead with plans to turn central west NSW into a major gold-copper production hub.