Alkane Resources shares surge following further high-grade gold-copper hits at Boda Prospect

Alkane Resources Limited’s (ASX:ALK) shares have surged about 16% intra-day following the intersection of further high-grade mineralisation at the Boda Prospect in Central West New South Wales. Boda is a landmark porphyry gold-copper system, within the Northern Molong Porphyry Project (NMPP), which Alkane believes has the potential to be a large, tier one gold-copper project. Two diamond core holes at Boda, KSDD029 and KSDD031, were designed to intersect the northwest structural trend and test down plunge of the high-grade breccia identified by KSDD007 and KSDD028. KSDD031 successfully intersected the sulphide cemented breccia down dip with significant assay results of: 383.2 metres grading 0.80 g/t gold and 0.31% copper from 775 metres including 204 metres grading 1.40 g/t gold and 0.51% copper from 776 metres; including 101 metres grading 2.47 g/t gold and 0.83% copper from 824 metres; and including 70 metres grading 3.04 g/t gold and 0.92% copper from 829 metres.  “Latest results give further insight” Alkane managing director Nic Earner said: “These latest results give further insight into both the high-grade brecciated zone and the sheer size of the Boda complex and adjacent complexes within the Northern Molong Porphyry Project. “Our drilling program continues with the aim of both in-filling and expanding the mineralised system.” Assay results were also received for three other diamond core drill holes from the current Boda program. Alkane’s drilling continues to intersect extensive zones of gold-copper mineralisation with increasing molybdenum grades flanking the potassic alteration. The additional results include: KSDD015 - 1,249.1 metres grading 0.18 g/t gold and 0.12% copper from 6 metres incl 113 metres grading 0.39 g/t gold and 0.16% copper from 764 metres KSDD016 308 metres grading 0.18 g/t gold, 0.20% copper and 31ppm molybdenum from 582 metres incl 42 metres grading 0.56 g/t gold, 0.54% copper and 130ppm molybdenum from 764 metres Aiming to become Australia’s next multi-mine gold producer Drilling continues at Boda and Boda Two, testing extensions and adding definition to the identified mineralised systems. An air-core drilling rig and one high-capacity reverse circulation (RC) drilling rig will be mobilised onsite next month supporting the ongoing diamond core drilling at Boda, Boda Two, as well as regional targets within the NMPP. Earner added: “We expect that the ongoing drilling program will validate the company’s growing confidence in the scale of the high-grade zone at Boda. “Along with the Company’s nearby Tomingley Gold Operations (TGO), Alkane is actively working towards its stated ambition of becoming Australia’s next multi-mine gold producer.”