Overview of Alkane Resources Ltd announcement

Alkane Resources Ltd (ASX: $ALK) has announced the receipt of significant high-grade results from its drilling program at the Northern Molong Porphyry Project in Central New South Wales. The program covered the Kaiser Deposit and resulted in the highest gold grade interval ever intersected at the site. The drilling was completed on a nominal 50m X 50m grid spacing within the existing Inferred Resource, which currently contains 2.1Moz gold and 0.5Mt copper.

Executive commentary on drilling results

Alkane Managing Director, Nic Earner, expressed satisfaction with the final results from the infill drilling at Kaiser, highlighting the discovery of even more high-grade sections, including the highest grade intercept ever seen at Kaiser at 62g/t gold equivalent in a metre section. He also mentioned the ongoing work on the block model and the expectation of having the updated Kaiser resource estimate ready in April. Additionally, the scoping study for mining Boda and Kaiser is progressing well and is anticipated to be completed in the coming June quarter. Earner expressed anticipation for updating shareholders and stakeholders in the months ahead.

Summary of Alkane Resources Ltd announcement

Alkane Resources Ltd has reported significant high-grade gold-copper mineralisation from its drilling program at the Northern Molong Porphyry Project. The company anticipates releasing an updated Mineral Resource Estimate (MRE) for Kaiser in April 2024, which will contribute to a scoping study for potential development. The drilling program, extending over three kilometers from Kaiser to Boda and down to Boda 2-3, is believed to have the potential to be a large, tier-one gold-copper project. Preliminary drilling has also been completed on regional targets within the project, with assay results pending. Alkane's Managing Director, Nic Earner, looks forward to updating shareholders and stakeholders in the months ahead, indicating a positive outlook for the company's future developments and growth in the gold and copper sector.