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FINALIST: EXPLORER

Boda’s works in progress

by Mark Andrews

oda – the gold-copper porphyry discovery – arrived late on Alkane now has two diamond rigs active in the Boda district,
Bthe scene in 2019 for Alkane Resources Ltd to be nominated as drilling of high-grade areas and infilling of the long and deep
for GMJ’s Explorer of the Year award. mineralised system continue.
Fast forward 12 months and the company was considered a Meanwhile, testing of anomalies at Kaiser and an area of about
legitimate contender in the making given the evidence that Boda 5km in length south of Boda are also part of the 30,000m FY2021
is shaping as a potential Tier 1 deposit at the Northern Molong drilling programme, which started back in July and will wrap up
Porphyry Project (NMPP), Central West, New South Wales. in about May.
Belief in Boda has grown and there has been faith shown in the The next batch of results from Boda are due to be announced
company by the market, which is reflected by Alkane’s market this month.
cap of $635 million and share price of $1.06c/share compared to Boda has not been Alkane’s only success on the exploration
$283 million and 56c/share at the time the corresponding edition front, with Earner saying that unlocking the potential at San
last year went to print. Antonio and Roswell, south of the company’s Tomingley
Just recently, Alkane announced that drilling at Boda operation (FY2021 guidance 45-50,000oz gold), was exceeding
had intersected further extensive zones of gold-copper expectations.
mineralisation, more than doubling the size of the immediate “San Antonio [662,000oz @ 2.04 g/t gold resource] and Roswell
target zone discovered in September 2019. [453,000oz @ 1.78 g/t resource] appear better than the original
Speaking to GMJ after announcing that the extension of Tomingley. In terms of size and grade, we hoped to reproduce
mineralisation 500m south of the original Boda gold-copper what we have but to improve on what we have is nice,” Earner
intersections, Alkane managing director Nic Earner said that said.
Boda continued to get “bigger and bigger”. San Antonio, Roswell and El Paso are the three targets areas
“We’ve extended Boda and brought more definition to that,” within 8km of the Tomingley mill where Alkane is plotting the next
Earner said in relation to what the company intended to achieve 10 years of operations.
at the prospect in 2020. “I would hope to have project approval for the Tomingley
“We have been blessed by the fact that the majority of our stuff is extension from the NSW Government and heading into the
residential, so the business has kept rolling in that sense.” development phase of that [by mid-2021]. I would also like to be
Extending mineralisation to the north and to the south at Boda talking about the steady unfolding of what we hope will become
has given Alkane reason to think that an extension to Boda or a a Tier 1 asset at Boda by showing more signs that that is the
whole new system may be emerging. truth,” Earner said.
Results from testing of the Boda Two conductive anomaly As at September 30, Alkane had $92 million in cash, bullion and
identified by 3D-IP electrical geophysics, included 102m @ 0.22 listed investments, including 19.9% interest in Genesis Minerals
g/t gold, 0.02% copper from 685m and 292m @ 0.64 g/t, 0.02% Ltd and 12.7% stake in gold mine developer Calidus Resources
copper from 867m, including 24m @ 1.81 g/t gold, 0.03% copper Ltd.
from 1,108m.

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