Alkane Resources Uncovers New High-Grade Zones at Northern Molong Porphyry Project

Exploration Momentum at Northern Molong

Alkane Resources Ltd (ASX:ALK) has provided a detailed update on its ongoing exploration activities within the Northern Molong Porphyry Project (NMPP) in Central New South Wales. The latest drilling campaign has delivered encouraging results, particularly at the Boda-Kaiser deposits and the nearby Driell Creek prospect, reinforcing the potential for further resource growth in this highly prospective gold-copper region.

The NMPP, situated at the northern end of the Molong Volcanic Belt, is known for its porphyry and epithermal mineralisation. Alkane’s exploration focus has been on seven intrusive complexes, with Boda and Kaiser already hosting significant gold-copper resources. The recent drilling has targeted extensions to these deposits as well as new targets identified through geophysical and geochemical surveys.

Key Drilling Highlights at Boda 2-3 and Kaiser

Two diamond core holes (BOD164 and BOD165) tested the vertical extent of a high-grade hydrothermal breccia previously intersected at Boda 2-3. BOD164 returned multiple intervals of mineralisation, including 125.1 metres grading 0.61 grams per tonne gold equivalent (AuEq) from 190 metres, with higher-grade zones reaching over 3 g/t AuEq at depth. Although BOD165 encountered geological complexities such as felsic dykes and fault displacement, it still intersected significant mineralisation at depth, albeit with a lower priority for immediate follow-up.

Additionally, three reverse circulation (RC) holes tested the southeastern extensions of the Boda 2-3 resource, all intersecting calc-potassic alteration and gold-copper mineralisation, indicating the resource remains open in this direction. At Kaiser, a deep diamond drill hole aimed at extending high-grade gold mineralisation at depth intersected narrow low-grade zones, prompting plans for shallower drilling to better define the mineralised plunge.

Insights from Driell Creek and Regional Exploration

The Driell Creek prospect, located about 3 kilometres northwest of Kaiser, was the subject of seven drill holes combining RC and diamond core methods. While some drilling intersected fault zones with limited mineralisation, other holes confirmed anomalous gold and copper values associated with a significant hydrothermal system. Structural and geochemical modelling suggests the presence of a porphyry system at depth, with further drilling planned to test these targets.

Complementing drilling efforts, Alkane has completed geophysical surveys including induced polarisation (IP) at Haddington and a ground gravity survey at Boda South. These surveys have identified chargeability and resistivity anomalies consistent with mineralised porphyry systems, guiding future exploration efforts.

Looking Ahead – Exploration and Development Plans

Alkane is advancing baseline environmental studies at Boda-Kaiser to support potential project development. Over the next 12 months, the company plans a helicopter-borne MobileMT survey covering 164 square kilometres of the NMPP, aiming to image subsurface resistivity to depths of up to 2 kilometres. This will be complemented by detailed soil sampling, air-core drilling, and targeted follow-up drilling at Driell Creek, Haddington, and Boda-Kaiser extensions.

Managing Director Nic Earner emphasised the strategic importance of these results, stating that the ongoing exploration program is integral to Alkane’s vision of expanding its resource base and underpinning the economic case for development. The positive scoping study outcomes, combined with current metal prices, position Alkane well to consolidate Central West New South Wales as a significant gold and copper production region.