Hi maplelegion Something to add to your post... KSDD003 total...

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Dazedandconfused

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19/09/19

09:49

Post #: 40477054
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Originally posted by maplelegion ↑

To continue to get a real handle on the "spark"that this Boda Drilling hole has ignited , and its proximity to NCM's Cadia/Ridgeway , its also worth having a look at the Red Chris Mine in Canada -----which NCM recently finalized a 70% buy in operating interest in for $A1.145 bill.
https://www.imperialmetals.com/our-operations/red-chris-mine/overview
2018 drilling significant intervals:
Drill Hole #Total
Length (m)Interval
From (m)Interval
To (m)Interval
Length (m)Copper
(%)Gold
(g/t)RC18-5881,057.6712.2896.0883.80.340.33including
381.9748.5366.60.530.60including
448.5616.0167.50.700.84

The Red Chris deep underground hole ( underneath an operating open cut mine ) had a wider overall intercept of copper /gold , but ALK's gold grades from this one discovery hole are likely higher and copper less :
KSDD003 502m @ 0.48g/t gold, 0.20% copper from 211 metres
incl 313m @ 0.62g/t gold, 0.17% copper from 228 metres
incl 12m @ 3.28g/t gold, 0.67% copper from 419 metres
and 35.8m @ 0.21g/t gold, 0.49% copper from 735 metres to EOH
Remember there is also an interval of 108m @ 1.06g/t gold, 0.41% copper from 408m in here .

Alkane has just scratched the surface here , with multiple surrounding target areas .
Whilst Tomingley South potential ( say 125,000 OZs of gold x a 10 year mine life , or 1,250K OZS overall ) is probably supporting Alkane's BASE CASE value somewhere about where it is ( combined with its other assets ) this Bodangora find is "the Big Kahuna" for its future .
Seeing the growth of Newcrest and Regis over the last 10 years ..and their share prices being multiples of what their discoveries brought about ....its not hard to get a realistic vision that ALKANE's share price growth is both in its infancy and is sustainable !

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Hi maplelegion

Something to add to your post... KSDD003 total drill is 770 metres with mineralisation recorded to the end of the hole... in other words it is still open at depth. The thing to notice [imo] is the copper starts showing up in good grades around the 400 metre mark and is then on average above 0.5%... which is comfortably economic [with the gold as a bonus]

ALK Price at posting: 70.5¢ Sentiment: Buy Disclosure: Held
12 Upvote

0 Great analysis

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