If you read the announcement of 11 Nov 2020 you will realise that the 400x1,000*1,000 incorporates both Boda 1 and Boda 2 - see link below. The announcement states in relation to DD hole 22 "The extension of mineralisation to the south is driven by assay results received from a diamond core drill hole 500 metres south of the original Boda gold-copper intersections" and "This hole was designed to test the Boda Two conductive anomaly identified by 3D-IP electrical geophysics. The hole intersected significant gold mineralisation indicative of a large pyrite shell to another porphyry system: KSDD022 102m grading 0.22g/t Au, 0.02% Cu from 685m and 292m grading 0.64g/t Au, 0.02% Cu from 867m incl 24m grading 1.81g/t Au, 0.03% Cu from 1108m"
The key about hole 22 is that ALK is the highlighted words above ie there may be another high grade core at Boda 2 in addition to the original Boda high grade core - note they have yet to confirm that there is a high grade core at both locations.
This announcement also stated "We’ve mobilised a second diamond drill rig to site and we are currently targeting the identified high grade areas, infilling the very long and deep mineralised system and testing identified anomalies at Kaiser and, further to the south of Boda, an area about 5 kilometres in length."
If they confirm the existence of the high grade areas at both Boda 1 and 2 and the potential for another at Kaiser then the current SP is is going to end up being an absolute bargain. But first they need to do more drilling to confirm if the high grade areas exist and who knows they may not exist. If they do confirm the existence of the high grade cores then comparisons with East Cadia may well be valid which would be extremely exciting..
We may see some exciting announcements from ALK over the next few months about Boda starting in February (in addition to Tomingley). Plus with two rigs at Boda there will be double the results.
ALK Price at posting:
87.0¢ Sentiment: Buy Disclosure: Held
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