Kincora Copper

Alkane Resources: Significant Porphyry Gold-Copper Mineralisation Width Increases with Depth at Boda

Burswood, WA / February 13, 2020 / JMN Wire / Alkane Resources Ltd. (ASX: ALK) reports the Boda Prospect has been tested with one diamond core drill hole (KSDD005) 200 metres below a zone of gold-copper mineralisation previously defined in diamond drilling (507m @ 0.48g/t Au, 0.20% Cu from 211m in KSDD003). KSDD005 assay results indicate an increase in thickness of significant porphyry gold-copper mineralisation with depth.  Drill intercept highlights include:

KSDD005    689m @ 0.46g/t gold, 0.19% copper from 402 metres
incl              312m @ 0.70g/t gold, 0.19% copper from 402 metres
incl              119m @ 1.47g/t gold, 0.29% copper from 463 metres
incl              10m @ 3.77g/t gold, 0.63% copper from 464 metres
also             12m @ 4.38g/t gold, 0.75% copper from 564 metres

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.

The Boda Prospect is part of the Northern Molong Porphyry Project (NMPP) which incorporates exploration licences covering an area of 110 km2 of the northern Molong Volcanic Belt (MVB), in the Central West of New South Wales. The northern MVB, within the eastern Lachlan Orogen is considered highly prospective for large porphyry gold-copper mineralisation, as demonstrated by the world class Cadia Valley porphyry district, located 110 km to the south.

Alkane Resources’ (ASX:ALK) 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”.

Northern Molong Porphyry Project (NMPP)  

Alkane Resources Ltd 100%

The Northern Molong Porphyry Project (NMPP) incorporates four exploration licences; Bodangora (EL 4022), Boda South (EL 8887), Kaiser (EL 6209) and Finns Crossing (EL 8361), covering an area of 115km2 of the northern Molong Volcanic Belt (MVB), in the Central West of New South Wales.

The NMPP is located close to the major regional centres of Dubbo and Orange, which together with Parkes and Wellington, service several major mines in the district including Alkane’s own Tomingley Gold Operations.  In addition, the NMPP is close to road, rail, power, gas and water infrastructure.

The northern MVB, within the eastern Lachlan Orogen is considered highly prospective for large porphyry gold-copper mineralisation, as demonstrated by the presence of the world class Cadia Valley porphyry district located 110 km to the south (~49Moz Au; Newcrest website).

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