Alkane Resources (ASX:ALK) announced the results of a 1,100 meter drill program at its Kaiser project in New South Wales in Australia which seem to indicate a new copper-gold porphyry zone has been discovered on the Bodangora project.
Of interest are intercepts of 41 meters of 1.24% copper and 1.15g/t gold and 22 meters of 1.64% copper and 1.63g/t gold from a depth of respectively 18 and 37 meters. These are good results with a respective rock value of $130/t and $176/t and we’d love to see some follow-up drilling to test the extensions of this new zone.
> Click here to read the press release
Disclosure: The author holds no position in Alkane Resources. Please see our disclaimer for current positions.
