Alkane Resources - Boda bodes well
On 9 November, Alkane reported the results of an additional 11 holes at its Boda prospect at its Northern Molong Porphyry Project. The most obvious, immediate consequence of the results is that it has doubled the north-south strike length of the system from 500m to 1,000m and, as such, is likely to represent either an extension of the original system or a whole new system. Among other things, this has caused us to increase our estimate of the upper limit of the mineralised inventory at Boda from 738Mt to 2,241Mt at an average gold grade of up to 0.35g/t. Note that Boda remains open to the northwest, south and at depth, with the relatively unexplored high grade mineralisation being the focus of further drilling.Alkane Resources is a mining and exploration company with a focus on gold, copper, zirconium, hafnium, niobium and rare earth elements. Co. has two reportable segments, being gold operations and the exploration and evaluation of rare metals. Co.'s projects and operations are located in the Central West of New South Wales in eastern Australia. Primary among them are the Tomingley Gold Operations, a medium-sized gold operation near Dubbo in which Co. is engaged in the production of gold. Co. is also developing the Dubbo Zirconia Project, which will produce zirconium, hafnium, niobium and rare earths.
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