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Alkane Resources Hits High-Grade Gold at New South Wales' Boda Prospect; Shares Decline 4%

MT Newswires ·  {{timeTz}}

10:22 PM EST, 02/24/2022 (MT Newswires) -- Alkane Resources (ASX:ALK) struck high-grade gold mineralization at its Boda prospect in Central New South Wales, the miner said in a Friday news release.

The first stage of resource drilling at the prospect suggested that the higher-grade central zone had a strike length of 500 meters. The mineralization extends up to 400 meters wide, is at least 900 meters deep, and extends to the surface, it added.

Some of the mineralization had yields of up to 557 meters at 0.52 grams per tonne of gold, 0.12% copper from 147 meters, including 207 meters at 0.65g/t gold from 147 meters, among others, the news release said.

Shares of Alkane Resources fell nearly 4% in recent trade.

Price (AUD): $0.94, Change: $-0.04, Percent Change: -4.10%

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