Alkane Resources (ASX: ALK) reported results from deep diamond hole PHD084, drilled to 1,651 m at its Peak Hill Gold Project in New South Wales under a $165,000 NSW Critical Minerals grant. The hole did not resolve its copper-gold porphyry target, but it intersected advanced argillic alteration about 1 km below the Proprietary open pit, suggesting the epithermal gold system extends at depth. Assays returned 0.42 g/t Au over 6.4 m from 1,000.6 m, including 1.02 g/t Au over 2 m, though grades were lower than in the deposit core about 1 km above. Alkane plans 6,600 m of drilling from November to test the area between PHD084 and the Proprietary Inferred Resource.
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- Alkane Resources extends Peak Hill gold system to 1-kilometre depth
Alkane Resources (ASX:ALK) intersected epithermal gold-copper mineralisation around 1 km below the Proprietary open pit at its Peak Hill Gold Project in New South Wales. Deep hole PHD084, drilled to 1,651 metres, indicated the epithermal system continues to significant depth, although it did not intersect the targeted porphyry intrusion and instead showed signs of a nearby magmatic source. The hole returned 153 metres at 0.11 g/t gold and 0.02% copper from 1,427 metres, including 4.8 metres at 0.46 g/t gold and 0.06% copper. Alkane plans a six-hole, 6,600-metre diamond drilling program from November to test the area between PHD084 and its existing Inferred Resource of 1.02 million tonnes at 3.29 g/t gold and 0.15% copper.
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