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Alkane Resources drills 689-metre gold-copper porphyry section at Boda discovery

Shares opened at $1.16, a new 8-year high for Alkane stock as confidence rises for a significant porphyry discovery.

Alkane Resources Ltd - Alkane Resources drills 689-metre gold-copper porphyry section
Drilling underway at Boda is part of a 5,000-metre diamond program

Alkane Resources Ltd (ASX:ALK) has intersected 689 metres at 0.46 g/t gold, 0.19% copper from 402 metres depth at the Boda Prospect within the Northern Molong Porphyry Project in NSW.

Diamond hole KSDD0005 was testing 200 metres below the 507-metre discovery zone of gold-copper mineralisation drilled in KSDD003.

Most notably, KSDD005 assay results indicate an increase in thickness of significant porphyry gold-copper mineralisation with depth.

The drilling is part of a 5,000-metre diamond core drilling exploration program to test the depth and strike extensions to the significant porphyry gold-copper mineralisation at Boda.

Results are further evidence of a big porphyry system

Alkane’s managing director Nic Earner said: “These drill results give us further encouragement that the Boda Prospect is a significant discovery.

“The continuation of grade at depth and the consistency of mineralisation are further evidence of a big porphyry system.

“Alkane is continuing its follow up drilling, we look forward to bring shareholders further results as they become available.”

Quick facts: Alkane Resources Ltd

Price: 0.905 AUD

ASX:ALK
Market: ASX
Market Cap: $524.93 m
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Full interview: Alkane Resources hits almost 700 metres of mineralisation in...

Alkane Resources Ltd (ASX:ALK) managing director Nic Earner updates Proactive on follow-up drill results from the Boda prospect within the wider Northern Molong Porphyry Project (NMPP) near Orange in New South Wales. The drilling is part of a 5,000-metre diamond core drilling exploration...

1 week, 2 days ago

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