Alkane Resources has upped the mineral resource estimate for its Kaiser site in its Northern Molong Porphyry copper-gold project in central New South Wales.
Following an extensive infill drilling program, the estimate has been changed to 213 million tonnes.
Alkane said the drilling had improved confidence at the site, with 89 per cent of the resource now classified as indicated and lifting gold and copper grades by 15 and 10 per cent, respectively.
“The Kaiser resource update gives even greater confidence in the significant potential of the Northern Molong Porphyry project,” Alkane managing director Nic Earner said.
“The total resource contains approximately eight million ounces of gold and 1.5 million tonnes of copper, with two-thirds classified as indicated.
“This updated resource has been delivered at an overall discovery cost of less than $4 per equivalent ounce. This compares favourably to industry averages and is a credit to the hard work of the exploration team.”
Alkane is set to release a scoping study from recently revised Boda District resources for potential development. The scoping study is expected to be released in the second quarter of 2024.
“We’re finalising the scoping study that outlinesthe economics of the Boda and Kaiser District, with potential mine plans currently being developed from the updated resources,” Earner said. “We’re on track to have that completed in the current quarter.”
The program extends over 3km from Kaiser to Boda and down to Boda 2–3. Alkane believes this system has the potential to be a large, tier-one gold-copper project.
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