Alkane Resources Limited announced further results from its drilling program at the company's Northern Molong Porphyry Project in Central New South Wales. The program extends over three kilometres from Kaiser, through Korridor and Boda, down to Boda Two and Boda Three. The company believes this system has the potential to be a large, tier one gold-copper project.

Results from one diamond core drill hole in the Korridor Prospect confirm extensive gold-copper porphyry mineralisation northwest of the Boda resource. Drill hole BOD091 intercepted over one kilometre of continuous mineralisation, with highlights including: BOD091: 1,041m grading 0.57g/t AuEq (0.32g/t Au, 0.17% Cu) from 698m incl 326m grading 0.76g/t AuEq (0.43g/t Au, 0.23% Cu) from 1,165m also 55m grading 0.82g/t AuEq (0.46g/t Au, 0.25% Cu) from 1,516m; The Korridor Prospect is structurally complex and is dislocated from the Boda mineralisation by a west dipping thrust implying an apparent northwest plunge to the Boda Resource. Drilling is planned to further delineate the Korridor/Boda northwest extension of the mineralisation to add to the Boda Mineral Resource estimate; Results from the recently completed drilling at the Kaiser Prospect, centred 1km northwest of the Boda Resource, show significant copper-gold porphyry mineralization in the northwest section of the Kaiser drill-out including: KAI073: 320m grading 0.56g/t AuEq (0.26g/t Au, 0.21% Cu) from 505m incl 12m grading 2.30g/t AuEq (1.10g/t Au, 0.83% Cu,) from 509m; KAI087: 157m grading 0.61g/t AuEq (0.36g/t Au, 0.17% Cu) from 952m; KAI090: 122.4m grading 1.00g/t AuEq (0.42g/t Au, 0.40% Cu) from 576.6m incl 28m grading 2.14g/t AuEq (0.92g/t Au, 0.84% Cu) from 646m; Final assays from the recently completed 100m x 100m grid drilling at Kaiser are expected next month.

A maiden JORC resource estimation is anticipated to be completed in first quarter 2023.