Alkane Resources Limited has issued the results of its drilling efforts at the Molong Porphyry Project in Central NSW, confirming extensive mineralisation at the Boda Two site.
The project extends 3 km from Kaiser, through Korridor and Boda, down to Boda Two and Three, which Alkane said could be a large, tier-one gold-copper project.
It is located 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.
According to the company, assay results were received from the diamond core and RC drilling at Boda Two, which confirmed zones of high-grade gold pyrite cemented breccia mineralisation within extensive gold-cooper porphyry mineralisation.
Significant diamond core intercepts include 438 m grading at 0.6g/t AuEq from 842 m at BOD093, 45.7 m grading at 0.97g/t AuEq from 599.8 m at BOD108, 62 m grading at 0.46g/t AuEq from 520 m at BOD109 and 78 m grading at 0.47g/t AuEq from 514 m.
Alkane is currently using two high-capacity diamond core drilling rigs in the Boda area but noted that as ground access conditions improve, it will allocate two additional rigs to accelerate the updated resource estimations for Boda and Kaiser, which are expected to be completed by the fourth quarter of 2023.
According to Alkane Managing Director Nic Earner, the early results gathered from the most recent phase of drilling at Boda Two confirm that large-scale mineralisation is occurring within site and to the south of Boda.
“These results are especially encouraging when viewed in combination with the recent maiden Kaiser resource to the northwest of the existing Boda resource,” said Earner, noting that it is “exciting” to have both a growing resource in Kaiser and Boda Two, building extensive mineralisation to the south.
In addition to the Molong Porphyry Project, the company also manages and operates the nearby Tomingley Gold Operations.
