Boda-Kaiser Regional Exploration Update
CONTACT: NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556
Level 4, 66 Kings Park Rd, West Perth WA 6005, AUSTRALIA (PO Box 768, West Perth WA 6872, AUSTRALIA)
ABN: 35 000 689 216 | Telephone: +61 8 9227 5677 | alkres.com | [email protected]
INVESTOR ANNOUNCEMENT and
MEDIA RELEASE
10 June 2026
Boda-Kaiser Regional Exploration Update
Perth, Western Australia - Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) (‘Alkane’
or ‘the Company’) is pleased to announce the latest exploration results and drilling around the Boda-Kaiser
resources at its Northern Molong Porphyry Project (NMPP) in New South Wales.
Program Summary
Near Boda-Kaiser exploration continued with the drilling of various targets testing areas for new Au-
Cu mineralised centres. One diamond core drill hole and one reverse circulation (RC) drill hole were
completed testing the area between the Kaiser and Boda deposits. Three RC drill holes were
completed to the northeast of Boda- Kaiser testing targets generated from IP and surface
geochemical surveys. The diamond core drill hole intersected a magmatic root zone to an intrusive-
hydrothermal breccia. Further drilling is planned to test along strike and up-dip of this breccia.
District exploration included four RC drill holes testing IP chargeability targets hosted by the
Comobella Intrusive Complex at the Haddington and Glen Hollow prospects. The program confirmed
the chargeability anomalism intersecting monzonites with pyrite and lesser Cu-Au mineralisation in
most of the drilling.
Mobile Magnetotellurics (MMT) was flown over the project area north of the Boda- Kaiser deposits,
defining six high priority targets for porphyry style systems at Driell Creek, Murga, Gollan North, and
two new prospects named One Tree and Old Station. On gr ound validation of these targets has
commenced.
Assay Highlights
Boda-Kaiser corridor area (KAI226):
• 23.5 m grading 0.17g/t Au 0.14% Cu including 3.2 m grading 0.31g/t Au 0.23% Cu;
• 42.1 m grading 0.16g/t Au 0.14% Cu including 4.8 m grading 0.59g/t Au 0.29% Cu.
Boda-Kaiser near deposit exploration (BOD168):
• 9 m grading 0.30g/t Au 0.01% Cu.
NMPP district exploration drilling (HAD001):
• 3 m grading 1.74g/t Au 0.07% Cu;
• 9 m grading 0.13g/t Au 0.08% Cu including 3 m grading 0.36g/t Au 0.11% Cu.
Alkane Managing Director & CEO Nic Earner said: “These results continue to add to the understanding of
the Boda–Kaiser project, showing the scale potential of the system and the possibility for further growth.
We are progressing the studies and consultation required for project approval by the regulator, and we
expect to add further value to the project as we continue to explore the wider Northern Molong Porphyry
system.”
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Northern Molong Porphyry Project (NMPP)
Alkane Resources Ltd 100%
Located in the Central West of NSW at the northern end of the Molong Volcanic Belt of the Macquarie Arc,
the NMPP is considered highly prospective for large-scale porphyry and epithermal gold-copper deposits.
Exploration has identified seven discrete intrusive complexes – Kaiser, Boda, Boda South, Driell Creek,
Murga, Windora and Saxa – outboard of the major 35km 2 Comobella Intrusive Complex (CIC) and within
a northwest trending transverse structural corridor. Intermediate intrusives, lavas and breccias, extensive
alteration and widespread, low -grade, gold-copper mineralisation, define the corridor, and two signifi cant
gold-copper resources have been defined at Boda and Kaiser. Exploration continues to improve t he
understanding of the Boda-Kaiser geological setting and to test targets throughout the NMPP.
Regional exploration over the previous 12 months has comprised a drilling program for a total of 3,813
metres, focusing on testing Induced Polarisation (IP) targets generated by previous geophysical surveys
and extensions to the resources. Assay results have been received and collated for 8 reverse circulation
(RC) drill holes for a total of 2,510 metres and 1 diamond (DD) core drill hole for 1,303 metres.
The exploration undertaken included:
• Testing the corridor area between Boda and Kaiser deposits with 1 DD and 1 RC hole.
• 3 RC holes testing geochemical-geophysical anomalies northeast of Boda-Kaiser.
• 4 RC holes testing various IP chargeability anomalies within the CIC (Haddington and Glen Hollow
prospects) that are coincident with Au-Cu mineralisation from previous companies RAB drilling.
• Completion of a Mobile Magneto-Telluric (MMT) survey over the majority of the NMPP.
Near Boda-Kaiser Exploration
There is an approximate 500m strike length between the Boda deposit (8.4Moz Au, 1.5Mt Cu – ASX
announcement 14 December 2023 titled ‘Boda Resource Update Increases Gold and Copper Grades’)
and Kaiser deposit (1.9Moz Au, 0.4Mt Cu – ASX announcement 29 April 2024 titled ‘Revised Kaiser
Resource Est Improves Confidence and Grades’) that is poorly drill tested (*see table page 11 – Boda-
Kaiser resources summary). Structural modelling and lithogeochemistry studies highlighted this area as
highly prospective for hosting a new hydrothermal breccia centre. Previous drilling has supported this
target with distal breccia style gold- copper mineralisation intersected from near surface in RC holes
BOD066 - 226m grading 0.25g/t Au, 0.10% Cu from 12m to end of hole, and deeper in BOD065 - 64m
grading 0.43g/t Au, 0.12% Cu from 174m to end of hole ( ASX Announcement 17 December 2021 titled
‘High Grade Continuity North West of Boda’ ). One deep RC precollared diamond core drill hole (KAI226)
was completed from south of Kaiser to transect the footwall of the Solar Fault (a significant north striking,
65o west dipping reverse structure over which significant post-mineral displacement at Boda has occurred)
that is host to the intrusive -hydrothermal breccia complex at Boda. Significant results from the 1,303m
deep drill hole included an intercept of monzodiorite cemented breccia of:
KAI226 23.5m grading 0.31g/t AuEq1 (0.17g/t Au, 0.14% Cu) from 880.5m
incl 3.2m grading 0.53g/t AuEq1 (0.31g/t Au, 0.23% Cu) from 895.8m
and 42.1m grading 0.30g/t AuEq1 (0.16g/t Au, 0.14% Cu) from 914m
incl 5m grading 0.53g/t AuEq1 (0.29g/t Au, 0.25% Cu) from 920m
also 4.8m grading 0.59g/t AuEq1 (0.32g/t Au, 0.29% Cu) from 948.2m
KAI226 intersected a mineralised monzodiorite cemented breccia that is the likely magmatic root to the
overlying hydrothermal breccia mineralisation intersected by previous shallow drilling. As observed at
Boda-Kaiser, the highest grades to these intrusive-hydrothermal breccias occurs above the transition from
magmatic cement to a hydrothermal cement, with the highest grades occurring in a sulphide-only cement.
Drill targeting along strike and up-dip is planned for next year to further test this sparsely drilled area.
1 The gold equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu%/100*31.1035*copper price($/t)/gold price($/oz). The pri ces used were
US$4,000/oz gold and US$12,000/t copper. Recoveries are estimated at 87% Cu and 81% gold at Boda and at 81% Cu and 71% Au at Kaiser from
substantial metallurgical testwork. Alkane confirms that all elements included in the metal equivalents calculation have reasonable prospects for
eventual economic extraction and that the metal prices adopted are assumptions only and do not represent forecast prices.
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KAI226: Calc-potassic altered monzodiorite cemented breccia with lesser hydrothermal calcite-
actinolite-chalcopyrite-pyrite cement from 3.2m interval grading 0.31g/t Au and 0.23% Cu.
Additionally, one 238m deep RC drill hole (KAI225) was completed testing for a southeast continuation of
the Kaiser resource. The hole tested the margin of the Kaiser magnetic complex where no drilling had been
previously conducted. KAI225 intersected inner propylitic alteration of basaltic -andesite lavas with pyrite
mineralisation. No significant Au-Cu assay results were received.
Other near Boda- Kaiser exploration focussed on the northeast flank of the system, testing three
geochemical targets with co- incident elevated potassium and/or chargeability anomalies identified by the
reprocessing of the 2020 IP survey. Three RC drill holes (KAI224, BOD167- 8) were completed for a total
of 1,014m. KAI224 intersected weak phyllic (sericite- chlorite) alteration transitioning into distal propylitic
alteration with pyrite mineralisat ion throughout. BOD168 intersected pyrite- sericite phyllic alteration
including Au-Cu assay results of:
BOD168 9m grading 0.31g/t AuEq* (0.30g/t Au, 0.01% Cu) from 264m
The gold enriched phyllic alteration intersected by BOD168 in the hanging wall to the Reids Fault appears
similar to the observed phyllic alteration that occurs within the northeastern flank of the Boda deposit.
Further drilling is planned to test for a deeper potassic/calc-potassic core in the footwall of the fault. The
area northeast of Boda-Kaiser has only seen minimal drilling to date and exploration drilling will continue
to help inform the Boda-Kaiser mine design.
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NMPP District Exploration
A seven-line induced polarisation (IP) survey was completed over the Haddington prospect in 2025 (ASX
announcement dated 8 July 2025 titled ‘Boda- Kaiser Regional Exploration Update’) . The IP survey
measured the chargeability and resistivity of the subsurface to a depth of approximately 400m and has
highlighted both chargeability and resistivity anomalies that may be an indication of mineralised porphyry
systems. Four significant chargeability anomalies supported by previous and/or historical geochemistry
were tested by RC drilling at the Haddington and Glen Hollow prospects within the Comobella Intrusive
Complex (CIC). The CIC geology comprises a package andesites and latites, intruded by significant
monzonite with shoshonitic magmatic affinities. Localised hydrothermal breccia/skarn gold- copper
mineralisation is associated with the monzonites.
At Haddington, two RC drill holes for a total of 800m were completed. HAD001 intersected monzonite and
monzodiorite intrusives with basaltic andesite lavas at depth. Gold-copper mineralisation was intersected
proximal to the contact between the intrusions and volcanic host rocks . Au -Cu grades considered
significant at this early reconnaissance exploration stage (+0.10g/t Au and/or +0.05% Cu) includes:
HAD001 12m grading 0.12% Cu, 0.02g/t Au from 288m
and 3m grading 1.74g/t Au, 0.07% Cu from 354m
and 9m grading 0.13g/t Au, 0.08% Cu from 372m
incl 3m grading 0.36g/t Au, 0.11% Cu from 378m.
At Glen Hollow, previous drill testing by Alkane has returned the significant result of 45m grading 0.87g/t
Au, 0.24% Cu from 60m including 21m grading 1.51g/t Au, 0.41% Cu from 84m (COM009 – ASX
Announcement 19 April 2011 titled ‘Porphyry style gold- copper mineralisation at Bodangora’ ). This
intersection, which is associated with a chargeability feature, occurs within a monzonite porphyry on the
margin of the CIC. One RC drill hole (COM046) was completed targeting down of the inferred plunge of
COM009 intersecting two lesser zones of mineralisation in the volcanic host rocks of:
COM046 16m grading 0.10% Cu, 0.08g/t Au from 72m
and 24m grading 0.07g/t Au, 0.05% Cu from 144m.
Drilling to date at Haddington and Glen Hollow has highlighted that the margin of the intrusive complex can
be host to discrete zones of Au- Cu mineralisation; however, it is currently believed that these zones are
either too small or of insufficient grade to be of economic significance and there is currently no plans to
conduct follow-up activities at these prospects.
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