Alkane Resources boosts confidence in gold-copper property following Kaiser resource update

–News Direct–

Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) managing director Nic Earner is back with Proactives Elisha Newell after the company posted a resource update for the Northern Molong Porphyry Projects (NMPP) Kaiser deposit in Central West New South Wales.The revised figures now indicate an overall resource of 213 million tonnes at a grade of 0.55 g/t gold equivalent, totalling 3.74 million ounces. The update follows an extensive infill drill program, which amalgamated results from 217 holes and nearly 95,000 metres of drilling activity.The resource update is part of Alkanes broader revision for the NMPP, including the complementary Boda deposit, which now boasts a global resource of 796 million tonnes at 0.58 g/t gold equivalent for 14.7 million ounces. Of this, 537 million tonnes are categorised as indicated resources and 258 million tonnes as inferred, highlighting substantial deposits of both gold and copper in both camps.Notably, the metallurgical results from these deposits have supported the development of a viable flowsheet, showing promising recoveries of 81% for copper and 71% for gold at Kaiser, with results slightly higher at Boda.Earner emphasised the heightened confidence in the Kaiser deposits potential, noting the transition of some resources from inferred to indicated categories and improvements in metal grades. Consequently, an upcoming scoping study expected later this quarter will further detail the potential economic outcomes and development plans for the Boda and Kaiser districts.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

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Alkane Resources Limited

COMTEX_451617072/2655/2024-04-29T15:17:49