Alkane Resources has received approval to transfer two exploration tenement packages from Sandfire Resources.
The Department of Regional NSW, Mining, Exploration and Geoscience (MEG) approved the transfer earlier this week, completing the acquisition agreement announced on 9 March 2023.
The transfer concerns the Southern Junee porphyry project (SJPP) group of tenements, 235km squared of the southern extension of the Junee-Narromine Volcanic Belt of the Macquarie Arc in central-west New South Wales.
The Macquarie Arc is Australia’s largest porphyry copper-gold terrane.
Reconnaissance exploration is expected to commence in 2024 and will comprise of airborne gravity, detailed drone magnetics and air-core drilling.
“It is great that the transfer of titles for these two exploration packages has been approved,” Alkane managing director Nic Earner said.
“We will now be drawing on our decades of experience, particularly the extensive geological knowledge accumulated at Boda & Kaiser, to conduct cost effective first stage exploration evaluation of these new prospective areas.
“We expect that these tenement packages are another opportunity for us to continue to build on our track record of exploration success in New South Wales.”
The news comes less than a month after Alkane was crowned explorer of the year by the NSW Minerals Council.
The company received the top honour for its discovery of the Kaiser gold and copper deposit, which is part of its Northern Molong Porphyry project (NMPP).