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Alkane Resources intersects high-grade gold, copper at Boda Prospect

Intersecting both a high-grade zone and a large consistent body of mineralisation show this area has the potential to be a future mining operation.

Alkane Resources Ltd - Alkane Resources shares rise on intersecting high-grade gold, copper at Boda Prospect
Semi-massive chalcopyrite veining in potassic altered volcanic from 768 metres

Alkane Resources Limited (ASX:ALK) has intersected significant high-grade gold-copper mineralisation at the Boda Prospect within the Northern Molong Porphyry Project (NMPP) in NSW.

Boda Prospect assay results have been concurrently received from both core holes KSDD006 and KSDD007.

KSDD007 is positioned 100 metres south from the zone of gold-copper mineralisation defined in holes KSDD003 and KSDD005.

The new results indicate a substantial improvement in grade and width of the porphyry mineralisation to the south including a high-grade gold-copper chalcopyrite central zone with intercepts of:

  • KSDD007: 1,167 metres at 0.55g/t gold, 0.25% copper from 75 metres
    • including 512 metres at 1.00g/t gold, 0.44% copper from 688 metres;
    • including 376 metres at 1.30g/t gold, 0.56% copper from 768 metres; and
    • including 96.8 metres at 3.97g/t gold, 1.52% copper from 768 metres.

KSDD007 - 2cm thick bornite-chalcopyrite-quartz vein at 385 metres

KSDD006 is positioned 100 metres north from the zone of gold-copper mineralisation defined in holes KSDD003 and KSDD005.

Extensive gold-copper mineralisation suggestive of the upper levels of the Boda porphyry system was intersected returning drill intercept highlights of:

  • KSDD006: 267 metres at 0.29g/t gold from 268 metres and
  • 341 metres at 0.20g/t gold, 0.21% copper from 607 metres.

Two remaining cores holes (KSDD008 and 009) in the exploration program are now complete and the core is being logged and sampled. Results are expected in April.

Alkane managing director Nic Earner said: “These excellent results confirm the Boda Prospect as a significant discovery.

“Intersecting both a high grade zone and a large consistent body of mineralisation are key attributes needed to show this has the potential to be a future mining operation.

“Alkane is waiting on assays from our final holes of this program and we look forward to bringing shareholders further results as they become available.”

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Price: 0.915 AUD

ASX:ALK
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Market Cap: $530.73 m
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