Alice Queen (ASX: AQX) reports its drilling at the Boda East copper-gold project in NSW has produced evidence of a porphyry system.
At Boda East, part of the company’s Yarindury project, the 2021 diamond drilling program kicked off on January 10.
Boda East is located about 700m from the large porphyry copper-gold Boda discovery made last year by Alkane Resources (ASX: ALK) and sits on a 13km-long north-south trend.
Ten diamond holes have now been completed for 6819.62m.
The best copper-gold assays so far include 1m at 0.01 grams per tonne gold (g/t) and 0.25% copper, 1m at 0.26% copper, 1m at 0.35g/t gold and 0.33% copper, while another returned 1m at 0.24g/t gold and 0.45% copper.
Alice Queen reports that copper, gold and molybdenum have now been identified over a 550m north-south extent, and that a series of discrete dykes are hosted by the mafic volcanic rock.
System remains open along strike and at depth
Managing director Andrew Buxton says that the results from Boda East are consistent with those that delineate the top of a mineralised porphyry intrusive complex.
This complex remains open along strike length an at depth.
“Prior to this drill campaign, we set out to identify a possible porphyry system which we are now pleased to advise that we have succeeded in doing,” Mr Buxton added.
“The deposit model suggest that we have intersected only the upper parts of a system which may improve at depth.”
Follow up drilling is planned.
Boda East consists of four tenements covering 700 sq km along strike from the Cadia operation of Newcrest Mining (ASX: NCM).
The company has said previously said that there has been a lack of exploration on its Boda East ground due to the presence of cover which masks the underlying geology.
Alice Queen has identified a 13km trend across Boda East and has divided this into four target areas, prioritised for drilling based on prospectivity and community consultation criteria.
The company began drilling at Boda East in July 2020.
The post Alice Queen drilling at Boda East points to possible porphyry system appeared first on Small Caps.
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