viewAlkane Resources Ltd

Alkane Resources reveals epithermal style gold from Northern Molong Porphyry Project

Northern Molong covers a large portion of the northern Molong Volcanic Belt.

Alkane shares last traded at $0.335

Alkane Resources Ltd (ASX:ALK) has revealed results from its first diamond holes at the Northern Molong Porphyry Project, which is an exploration project where previous drilling has outlined a large low grade gold-copper porphyry system.

The project includes the Bodangora, Kaiser and Finns Crossing propoerties.

Drilling from the Boda prospect has delivered: 68 metres at 0.35g/t gold from 476 metres; including 33 metres at 0.51g/t gold and 6 metres at 2.14g/t gold.

Over at Kaiser, results included: 30 metres at 0.23g/t gold, 0.13% copper from 6 metres and 129 metres at 0.14g/t gold, 0.11% copper from 50 metres.

Search for another Cadia

Alkane’s exploration activity has established a geological framework for the region which highlights strong similarities with the Cadia district.

Ongoing exploration success has demonstrated the margins of major magnetic complexes provide a primary control for porphyry and epithermal mineralisation, with significant intersections being reported from the Duke Target along the western margin of the Kaiser Magnetic Complex and the Boda Target at the western margin of the Boda Magnetic Complex.

This provides a combined strike length of over 900 metres.

Record gold production

Moving to Alkane's gold production asset, Tomingley, the mine delivered record production during the June quarter of 27,924 ounces at an all-in sustaining cash cost (AISC) of A$906 per ounce.

This brought the total FY2017 production from the Tomingley Gold Operations to 68,836 ounces with an AISC of A$1,335 per ounce.

FY2017 production comes in slightly ahead of recent guidance of 65,000-67,000 ounces at an AISC of A$1,300-$1,400.

Quick facts: Alkane Resources Ltd

Price: 1.475 AUD

Market: ASX
Market Cap: $878.2 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alkane Resources Ltd named herein, including the promotion by the Company of Alkane Resources Ltd in any Content on the Site, the Company...


Australian Strategic Materials produces first titanium metal alloy with JV...

Australian Strategic Materials Limited’s David Woodall speaks to Proactive's Andrew Scott after announcing its JV partner ZironTech has successfully produced a titanium metal alloy at their commercial pilot plant in South Korea. He says it achieved 99.9% purity and importantly it uses about 45%...

on 8/7/20

2 min read