Alkane Resources Limited (ASX:ALK) has delineated new shallow high-grade zones of gold-copper mineralisation at its Kaiser prospect in Central New South Wales.
The new zones at Kaiser sits on a strike length of 800 metres, and the best results have been located within the southeast of the drilling and continues over a length of 350 metres to the west-northwest.
Results from 25 holes of reverse circulation (RC) drilling include:
KAI057:
- 357 metres grading 0.23 g/t gold, 0.25% copper from 7 metres
- including 173 metres grading 0.34 g/t gold, 0.42% copper from 87 metres
- including 37 metres grading 0.97 g/t gold, 1.0% copper from 113 metres
KAI053:
- 177 metres grading 0.32 g/t gold, 0.14% copper from surface
- including 36 metres grading 0.53g/t gold, 0.24% copper from 9 metres and 29 metres grading 0.68 g/t gold, 0.20% copper from 73 metres
- including 1 metres grading 11.05 g/t gold, 1.35% copper from 75 metres
A diamond core rig has been mobilised to tail selected RC holes to greater depths.
Two recent high-priority targets identified through the Induced Polarisation (IP) with Magnetotelluric (MT) survey over the northwest structural corridor will be drill-tested in the near future.
Significant hits at Boda
Drilling at the Boda Two prospect continues to identify large and continuous zones of low-grade gold-copper porphyry mineralisation with internal high-grade zones associated with weakly developed hydrothermal breccias of magnetite pyrite and chalcopyrite.
The gold-rich pyrite mineralisation does not extend to surface but is open at depth.
Assay results were received for two RC pre-collared diamond core drill holes for 3,359.9 metres, with significant intercepts of:
KSDD050:
- 24 metres grading 0.25 g/t gold, 0.03% copper from 409 metres and 203 metres grading 0.23 g/t gold, 0.02% copper from 682 metres
- including 20 metres grading 0.38 g/t gold, 0.02% copper from 844 metres and 306 metres grading 0.57 g/t gold, 0.04% copper from 928 metres
- including 34 metres grading 0.36 g/t gold, 0.16% copper from 1,045 metres also 155 metres grading 0.80 g/t gold, 0.02% copper from 1,079 metres
- including 38 metres grading 1.9 g/t gold, 0.02% copper from 1,106 metres
- including 1 metre grading 28.4 g/t gold, 0.02% copper from 1,135 metres and 25 metres grading 0.21 g/t gold, 0.11% copper from 1,269 metres
BOD061:
- 35 metres grading 0.32 g/t gold, 0.02% copper from 583 metres and 22 metres grading 0.28 g/t gold, 0.15% copper from 768 metres and 522 metres grading 0.28 g/t gold, 0.14% copper from 855 metres
- including 56 metres grading 0.73 g/t gold, 0.28% copper from 1,232 metres and 57 metres grading 0.38 g/t gold, 0.16% copper from 1,436 metres
A major RC and diamond core drilling program has been planned at Boda Two and Boda Three to target extensions to gold-copper mineralised breccias and to infill the drilling in the low-grade disseminated mineralisation.
Drilling is expected to start in August 2022 pending approvals.
Unlocking significant potential
“As anticipated, the RC drilling program at Kaiser is showing that mineralisation is both extensive and reaches the surface,” said Alkane managing director Nic Earner.
“Drilling at Kaiser continues, and an initial resource estimate is scheduled for preparation and release in the coming months.
“The team is also drilling south of the Boda resource at Boda Two and Three to follow up on the higher-grade mineralisation previously identified. Planning is also underway to drill other nearby targets identified by the recent IP and MT surveys.
“These results build on the initial Boda resource released in May and are encouraging confirmation that the Northern Molong Porphyry Project has significant potential yet to be unlocked.”