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Alkane is pleased to announce the latest exploration results at its Peak Hill Gold Project (Peak Hill) in New South Wales.
Summary
- Alkane was awarded a NSW Critical Minerals exploration grant of $165,000 to explore for a copper-gold porphyry at Peak Hill.
- One diamond core drill hole (PHD084) was completed to 1,651m, intersecting transitional phyllic alteration beneath the Great Eastern open cut, suggesting the targeted porphyry environment may be deeper. A study has been commissioned to evaluate the proximity of possible porphyry intrusives to PHD084 before further testing this target.
- Deeper down hole and approximately 1km vertically below the Proprietary open cut, PHD084 intersected the same advanced argillic alteration (pyrophyllite-silica) similar to that mapped at surface, indicating a strong vertical continuation of the previously mined epithermal mineralisation.
- Assays show elevated gold and copper within the sulphide mineralisation, although at lower grades than seen within the drilling approximately 1km above, within the core of the deposit. This lower tenor may be indicative of the beginning of a transitional zone to the porphyry setting, or the drilling simply intercepted the system on the periphery.
- 6,600m of drilling is planned to commence in November to test the area between PHD084 and the Proprietary Inferred Resource. The aim of the drilling is to assess the vertical continuity of grade and to ascertain whether the PHD084 may have missed the high-grade core of the system.
Drilling result highlights
Intercepted mineralisation within epithermal to porphyry traditional environment:
- 0.42 g/t Au over 6.4m from 1,000.6 metres including;
- 1.02 g/t Au over 2m.
Interpreted 1km depth extension to the Peak Hill epithermal system:
- 0.11g/t Au and 0.02% Cu over 153m including;
- 0.46 g/t Au and 0.06% Cu over 4.8m.
Alkane Managing Director & CEO, Nic Earner, said: “The NSW Critical Minerals Exploration grant supported Alkane to drill a very deep hole beneath Peak Hill, exploring for a copper-gold porphyry system. Whilst the hole did not resolve the target, it did highlight the potential for the shallow epithermal gold resource at Peak Hill to extend to a significant depth below the Proprietary pit.
“The drilling highlights the potential for mineralisation to continue at significant depth beneath Peak Hill and identifies a substantial area for further exploration. Follow-up drilling is set to commence in 2026 and aims to delineate the scale of the epithermal gold deposit whilst also providing further system information and vectoring towards a potential copper–gold porphyry system below.”
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