Alkane Resources (ASX:ALK) receives first RC results from Kaiser – The Market Herald

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  • Alkane Resources (ALK) receives first results from the reverse circulation (RC) drilling program on the Kaiser Prospect in New South Wales
  • RC drilling began in February to estimate a shallow resource with drilling intersecting one meter at 11.05 g/t gold and 1.35% copper from 75 meters
  • According to chief executive Nic Earner, an initial estimate of Kaiser’s resources should be released in the coming months.
  • Results were also received from two diamond holes drilled at the Boda Two prospect with up to 28.4 g/t gold and 0.28% copper intersected.
  • Alkane is up a slight 1.48% in the market with shares trading at 68.5 cents at 11:39 a.m. AEST

Alkane Resources (ALK) has received the first results from the reverse circulation (RC) drilling program on the Kaiser prospect in New South Wales.

RC drilling began in February to estimate a shallow resource with planned drilling to a depth of 300 meters and a strike of 800 meters.

The best results come from hole KAI053 which intersected 177 meters at 0.32 grams per tonne (g/t) gold and 0.14% copper from surface, including one meter at 11.05 g/t gold and 1.35% copper at 75 meters.

Drilling is nearing completion with a diamond drill rig on site to drill selected RC holes to greater depth.

Additionally, a recently completed induced polarization with magnetotelluric survey near Kaiser identified two priority targets that will be tested in the near future.

Results were also received from two diamond holes drilled at the Boda Two prospect with up to 28.4 g/t gold and 0.28% copper intersected.

An RC core and diamond infill program has been planned at Boda Two and Boda Three, with work to begin in August, pending approvals.

“As expected, the RC drill program at Kaiser shows that the mineralization is both extensive and reaching surface. Drilling at Kaiser continues and an initial resource estimate is scheduled for preparation and release in the coming months,” said Managing Director Nic Earner.

“The team is also drilling south of the Boda resource at Boda Two and Three to follow up on previously identified higher grade mineralization.

“These results build on the initial Boda resource published in May and are encouraging
confirmation that the North Molong Porphyry Project has significant potential that remains to be
unlocked.

Alkane was up a slight 1.48% in the market with shares trading at 68.5 cents at 11:39 a.m. AEST.

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