Alkane Resources Limited has delineated new shallow high-grade zones of gold-copper mineralisation at Kaiser prospect near the Boda discovery at Northern Molong Porphyry Project in Central West New South Wales.
The new zones at Kaiser sit on a strike length of 800 metres and the best results come from the southeast area of the prospect and continue over a length of 350 metres to the west-northwest.
Results from 25 holes of reverse circulation (RC) drilling include:
KAI057 - 357 metres at 0.23 g/t gold and 0.25% copper from 7 metres, including 173 metres at 0.34 g/t gold and 0.42% copper from 87 metres and 37 metres at 0.97 g/t gold and 1.0% copper from 113 metres; and
KAI053 - 177 metres at 0.32 g/t gold and 0.14% copper from surface, including 36 metres at 0.53 g/t gold and 0.24% copper from 9 metres and 29 metres at 0.68 g/t gold and 0.20% copper from 73 metres, including 1-metre at 11.05 g/t gold and 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 an Induced Polarisation (IP) with Magnetotelluric (MT) survey over the northwest structural corridor will be drill-tested in the near future.
Significant Boda Two hits
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:
KSDD050 - 24 metres at 0.25 g/t gold and 0.03% copper from 409 metres; 203 metres at 0.23 g/t gold and 0.02% copper from 682 metres, including 20 metres at 0.38 g/t gold and 0.02% copper from 844 metres; and 306 metres at 0.57 g/t gold and 0.04% copper from 928 metres, including 34 metres at 0.36 g/t gold and 0.16% copper from 1,045 metres.
The hole also returned 155 metres at 0.80 g/t gold and 0.02% copper from 1,079 metres, including 38 metres grading 1.9 g/t gold and 0.02% copper from 1,106 metres, including 1-metre at 28.4 g/t gold and 0.02% copper from 1,135 metres; and 25 metres at 0.21 g/t gold and 0.11% copper from 1,269 metres.
BOD061 - 35 metres at 0.32 g/t gold and 0.02% copper from 583 metres; 22 metres at 0.28 g/t gold and 0.15% copper from 768 metres; and 522 metres at 0.28 g/t gold and 0.14% copper from 855 metres, including 56 metres at 0.73 g/t gold and 0.28% copper from 1,232 metres; and 57 metres at 0.38 g/t gold and 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.”