Alkane Resources Limited (ASX: ALK) has intersected further high-grade mineralisation at the company’s Boda Prospect in Central New South Wales.
Boda is 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.
Alkane Managing Director, Nic Earner, said these drill results show the extension of the high-grade system to the northwest of Boda.
“With the gold-copper mineralisation at Korridor appearing to connect Kaiser to Boda, we’re looking at a system over 3km in length.
“We look forward to bringing shareholders more results as well as our initial resource model in the coming quarter.”
Northern Molong Porphyry Project (NMPP) Alkane Resources Ltd 100%
The Project is 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 mineralisation.
A major RC and diamond core drilling program commenced in July 2020 and was designed to test the dimensions and extensions to the large low-grade mineralised envelope as well as any internal high-grade zones at Boda.
In addition, the drilling is testing other known gold-copper mineralisation occurrences and co-incident IP anomalies within the 15km monzonite intrusive corridor that extends from Boda Three to Finns Crossing.
Assays were received from the current drilling program testing Boda, Boda Two/Three, Korridor and other regional targets comprising of 11 RC drill holes and seven diamond core holes for a total of 10,129 metres.
The Boda gold-copper porphyry system is a series of near vertical, northwest striking, intrusive related breccias hosted within a thick sequence of shallowly east dipping andesite lavas.
These magmatic breccias tend to hydrothermal in nature with a matrix comprising of calcite-quartz ± actinolite ± magnetite ± chalcopyrite ± pyrite (Boda discovery hole KSDD003 – 502m @ 0.48g/t Au, 0.20% Cu from 211 metres) zoning to higher gold-copper grades when associated with a chalcopyrite ± pyrite dominant cement (KSDD007 – 96.8m grading 3.97g/t Au, 1.52% Cu from 768 metres)
Drilling has indicated that the northeast shoulder of the Boda gold-copper mineralisation has a shallow blanket of phyllic gold only mineralisation associated strong sericite alteration, abundant pyrite and with occasional colloform quartz-carbonate veining suggestive of shallow level epithermal gold emplacement.
Significant intercepts from the drilling include:
- BOD058 20m grading 0.44g/t Au, 0.08% Cu from 310m incl 1m grading 2.88g/t Au, 0.35% Cu from 325m and 268m grading 0.32g/t Au, 0.13% Cu from 400m incl 6m grading 1.45g/t Au, 0.33% Cu from 494m also 31m grading 0.59g/t Au, 0.28% Cu from 518m and 54m grading 0.30g/t Au, 0.22% Cu from 935m incl 5m grading 0.73g/t Au, 0.64% Cu from 973m
- BOD059 906.7m grading 0.45g/t Au, 0.18% Cu from 309m incl 219m grading 0.28g/t Au from 309m (gold only flanking mineralisation) also 672.7m grading 0.51g/t Au, 0.23% Cu from 543m incl 115m grading 1.98g/t Au, 0.53% Cu from 864m incl 2.8m grading 13.0g/t Au, 1.59% Cu from 901.5m also 33m grading 4.06g/t Au, 1.29% Cu from 946m incl 6m grading 11.2g/t Au, 1.81% Cu from 968m
At least four mineralised intrusive breccias are identified central to the Boda system that remains open along strike to the northwest to the Korridor and Kaiser prospects. As demonstrated by BOD059 these breccias can zone to significantly high gold-copper grades when associated with strongly oxidised fluids