Boda and Kaiser
The Boda and Kaiser prospects are within Alkane’s Northern Molong Porphyry Project, located in the Central West region of New South Wales.
Since discovering significant mineralisation at Boda in 2019, Alkane’s exploration around the Boda-Kaiser area has defined a 3.5km corridor of extensive calc-potassic alteration associated with gold-copper porphyry mineralisation. The corridor encompasses the Kaiser, Boda, Boda Two and Boda Three prospects. Kaiser is located 500m northwest of Boda.
Initial Boda Resource
Alkane has released initial Inferred Mineral Resource Estimates for the Boda and Kaiser deposits (ASX Announcements 30 May 2022 and 27 February 2023 respectively). The combined resource tables are below. Together, Boda and Kaiser now approach 15 million gold equivalent (AuEq*) ounces, a total metal inventory of 7.26 million ounces of gold and 1.38Mt of copper.
The average grade for Kaiser is slightly higher than Boda, largely due to the higher copper grade of Kaiser. As a result, the value of the contained copper now exceeds the value of gold for the combined Boda-Kaiser resources.
Alkane’s drilling program continues at Boda and Kaiser, with the view to infilling the Inferred Resources and updating them to Indicated status. Drilling also continues to define the overall Boda-Kaiser system, with extensions being tested south of Boda at Boda Two and Boda Three, and northwest of Boda towards Kaiser. In parallel, Alkane is continuing the preliminary work required to further understand mining and processing options for the future. We hope to wrap these into a concept study as the Indicated Resources are released.
*The equivalent gold equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu%/100*31.1035*copper price($/t)/gold price($/oz). The prices used were US$1,770/oz gold and US$9,750/t copper, and A$:US$0.70. Recoveries are assumed the same for Au and Cu at 85% from preliminary metallurgical studies. Alkane considers the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.
Pictured (L-R) are Exploration Manager NSW David Meates, Technical Director Ian Chalmers, Non-Executive Director Tony Lethlean and Chairman Ian Gandel.
