Alkane Resources doubles size of Boda target zone on revealing further extensive gold-copper zones

Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) (FRA:AK7) has significantly expanded mineralisation at its Boda prospect in Central West New South Wales after intersecting further extensive zones of gold-copper mineralisation.  Drilling continues to expand the footprint of Boda with recent work more than doubling the size of the immediate target zone identified by the discovery drill program in September 2019, and it remains open to the northwest, south and at depth.  This, together with the encouraging mineralisation at Boda Two and Kaiser, give support to the potential for a large tonnage gold-copper alkalic porphyry district to the northeast of the existing Toningley Gold Operations.  Shaping as tier-one porphyry project Alkane managing director Nic Earner said: “The Boda prospect just keeps getting bigger and bigger. “We have extended the mineralisation to the north and to the south, we have either an extension or a whole new system emerging. “We believe Boda is shaping up to be a large, tier-one gold-copper porphyry project. “We’ve mobilised a second diamond drill rig to site and we are currently targeting the identified high-grade areas, infilling the very long and deep mineralised system and testing identified anomalies at Kaiser and, further to the south of Boda, an area about 5 kilometres in length. “We anticipate being able to report the next round of results from this campaign in late December this year.” Drill results The extension of mineralisation to the south is driven by assay results received from a diamond core drill hole 500 metres south of the original Boda gold-copper intersections. This hole was designed to test the Boda Two conductive anomaly identified by 3D-IP electrical geophysics.  Drilling shows a sub-vertical elliptical zone of significant gold-copper mineralisation indicative of a large alkalic porphyry system of 400 metres width that is over 1,000 metres north-south strike length and more than 1,100 metres vertically. The hole intersected significant gold mineralisation indicative of a large pyrite shell to another porphyry system: KSDD022: ➢ 102 metres grading 0.24 g/t gold equivalent (0.22 g/t gold and 0.02% copper) from 685 metres ➢ 292 metres grading 0.66 g/t gold equivalent (0.64 g/t gold and 0.02% copper) from 867 metres, including 24 metres grading 1.87 g/t gold equivalent (1.81 g/t gold and 0.03% copper) from 1,108 metres. Results so far Assays have been received from the current drilling program comprising four diamond core holes and six reverse circulation drill holes for a total of 6,829 metres. These have been testing strike and depth extensions of the gold-copper porphyry mineralisation at the Boda prospect from which the discovery hole, KSDD003, returned 502 metres at 0.48 g/t gold, 0.20% copper from 211 metres. A high-grade zone intersected by KSDD007 of 96.8 metres grading 3.97 g/t gold and 1.52% copper from 768 metres is focused along a brecciated contact between monzogabbro dykes and sills and the volcanic host rocks. This monzogabbro unit is only intersected by KSDD007 and KSDD011 to date, and at this stage, the high-grade mineralisation is not laterally extensive but is likely to be vertically extensive. The high-grade mineralisation may plunge steeply to the northwest along the contact with the monzogabbro unit and away from hole KSDD010 that is over 200 metres below KSDD007 and is subparallel to the current drilling direction. This high-grade mineralisation is the focus of further drilling and a drill hole will begin shortly testing this zone normal to the NW structural corridor. RC drill holes KSRC032 and KSRC038 terminated in mineralisation due to RC drilling capability and will be extended by diamond tails at a later date. Core holes KSDD014–KSDD021 are scheduled in the current program. An electrical geophysics survey (3D-IP) completed over a six kilometres long north-south target corridor of Boda volcanic stratigraphy identified strongly conductive targets at Kaiser and Boda Two prospects. KSDD022 was completed to 1,225 metres targeting the centre of a large conductive anomaly at Boda Two. The diamond core drill hole intersected a large pyrite shell comprising stringers and aggregates of pyrite within a sequence of propylitic altered basaltic andesites and monzodiorite sills and dykes. The thick intersection of strong gold mineralisation with anomalous copper and pathfinder elements could be indicative of a distal component to a large fertile magmatic system at Boda Two. A second, high-capacity diamond core drilling rig was mobilised to the Boda district in October. In addition to the continued drill testing of the resource potential of Boda, drilling is also planned to test the strong conductive IP anomaly at Kaiser and targets at Boda Two. Boda is a landmark porphyry gold-copper system within the Northern Molong Porphyry Project.