ALKANE RESOURCES RECORDS SIGNIFICANT GOLD GRADES AT KAISER

Infill Drilling at Kaiser Unveils Noteworthy Gold Grades

Alkane Resources Limited (ASX:ALK) has shared the latest findings from its comprehensive drilling program at the Kaiser Deposit, part of the Northern Molong Porphyry Project. The results feature significant gold and copper grades, including the highest gold grade interval recorded at Kaiser.

Drilling Results Bring Essential Data:

  • The Kaiser Indicated Mineral Resource Estimation (MRE) program concluded with assay results for the final 12,000m of RC and diamond core drilling. This drilling was aimed at refining the existing Inferred Resource.
  • Drill hole KAI159 revealed a gold-rich pyrite breccia, displaying exceptional gold intercepts:
    • KAI159: 8.6m grading 14.8g/t AuEq from 316.4m, including 3.5m grading 31.3g/t AuEq from 318m and 1m grading an impressive 62.2g/t AuEq from 320m.
  • The infill drilling campaign at Kaiser aimed to densify data within the resource model, honing in on the mineralized footprint’s high-grade segments.

Awaiting the Updated Resource Estimate:

  • An updated MRE for Kaiser, including an Indicated category, is expected in April 2024, enhancing the previously updated Boda MRE.
  • These updates are fundamental components of a scoping study for potential development, slated for release in Q2 CY2024.

Management’s Insight:

Nic Earner, Managing Director of Alkane, commented on the drilling achievements and the forward-looking plans:

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 62g/t gold equivalent in a metre section. There’s also a very interesting ‘Boda’ style breccia that has two sections totaling over 70 metres with greater than 3 g/t 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.

I look forward to updating our shareholders and stakeholders in the months ahead.

Read the full announcement

Goldman

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