Alkane Resources (ASX:ALK) Resource Estimate for the Ongoing Boda Gold-Copper Prospect – The Market Herald

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  • Alkane Resources (ALK) Launches First Mineral Resource Estimate (MRE) for the Boda Gold-Copper Prospect at its Northern Molong Porphyry Project in New South Wales
  • Company expects to complete ERM for central zone of gold-copper mineralization at Boda next month
  • The first stage of resource drilling recently completed by Alkane on the prospect outlined gold-copper mineralization centered around a vertically extended 500m by 300m intrusive monzodiorite breccia stockpile, within a mineralized alteration zone wider
  • Managing Director Nic Earner says completion of resource drilling program is important milestone for company as it considers options for Boda
  • ALK shares up 5.07% at $1.14

Alkane Resources (ALK) has started a first mineral resource estimate (MRE) for the Boda gold-copper prospect at its Northern Molong porphyry project in New South Wales.

The company said it expects to complete the ERM for the central zone of gold-copper mineralization at Boda next month.

Alkane recently received assay results from the last 10 holes of its first stage of resource drilling on the prospect.

The drilling program outlined gold-copper mineralization centered around a 500 meter by 300 meter vertically extended intrusive monzodiorite breccia stock, within a wider mineralized alteration zone.

The Boda system appears to be plunging and remains open to the northwest at depth, the company said.

“The completion of the resource drilling program is a major milestone for us as we review our options for Boda,” said Alkane Managing Director Nic Earner.

“We have a large volume of data to work with, which will allow us to finalize the initial Boda resource in April.

“We are also well advanced in a shallower drilling program at Kaiser-Duke which could confirm a first resource there.

“Alkane is planning new drilling in the northwest corridor of the Boda-Kaiser-Duke complex and will also target higher grade zones at Boda Two and Three.”

Approximately 30,000 m of initial wide-spaced drilling has been undertaken at Boda Two and Three, with further drilling planned.

Reverse circulation drilling is also progressing on the nearby Kaiser-Duke prospect in search of the initial MRE separated from the near surface material.

Alkane also operates the nearby Tomingley gold operations.

ALK shares rose 5.07% to $1.14 at 1:42 p.m. AEDT.