Alkane (ASX:ALK) cracks Kaiser gold record in New South Wales

Alkane (ASX:ALK) cracks Kaiser gold record in New South Wales

March 15, 2024 Off By Jack Baker

Alkane Resources has recorded its highest-grade gold interval to date from the Kaiser deposit, returning 62 grams a tonne over a metre amid a slew of noteworthy gold and copper intercepts from now completed drilling over its Molong porphyry project in central New South Wales.

The 12,000m combined RC and diamond drill campaign is aimed at defining an indicated portion of the Kaiser resource and upgrading an inferred resource currently holding 2.1 million ounces of gold and half a million tonnes of copper.

The starring drill hole at Northern Molong Porphyry Project intersected a gold-rich pyrite breccia with multiple heady intercepts, while another hole into Kaiser notably returned a significant zone of high-grade mineralisation in the style of its neighbouring Boda deposit.

An upgraded Kaiser deposit is set to be added to the recently upgraded Boda 10.9Moz at 0.58g/t gold equivalent resource in April ahead of a combined scoping study for a large-tonnage development.

“The final results from the infill drilling at Kaiser contain even more high-grade sections, including the highest-grade intercept we’ve ever seen at Kaiser at 62 grams per tonne gold equivalent in a metre section,” Alkane Managing Director Nic Earner said.

“There’s also a very interesting ‘Boda’ style breccia that has two sections totalling over 70 metres with greater than 3gpt gold equivalent.

“We’re working on the block model and expect to have the updated Kaiser resource estimate ready in April. The scoping study for mining Boda and Kaiser is also well underway and is expected to be completed in the coming June quarter.”

Alkane is confident it is in control of a system with potential to be a tier-one deposit, and is undertaking a drilling program to match, extending a 45,000m campaign over three kilometres from Kaiser and down to the Boda 2-3 satellite deposits.

Kaiser and Boda are two of six discrete magnetic/intrusive complexes discovered so far within a Molong project Alkane considers highly prospective for both large-scale porphyry and epithermal gold-copper deposits.

A scoping study is expected in the second quarter of this year, but for now, Alkane has one high-capacity diamond rig targeting deep high-grade mineralisation at Boda 2-3 as it awaits assays from early drilling across several regional targets.

Alkane has already entrenched itself as a gold producer from its nearby Tomingley Operations, but now looks to scale up into an ascendent gold market.

For full results from Molong-Kaiser, see Alkane’s post.

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