Business · Energy & Commodities · 1 hr ago
Deep drilling finds alteration 1 km below Peak Hill mine
Australian miner Alkane Resources drilled 1,651 metres at Peak Hill in New South Wales.
About 1 km below the Proprietary open pit, the hole found alteration similar to rock features at the surface.
Alkane says this points to a deep continuation of previously mined epithermal mineralisation.
The company was also exploring for a copper-gold porphyry, a different type of deposit that may lie deeper.
Alteration in the hole beneath the Great Eastern open pit suggests the targeted porphyry environment may be deeper than expected.
Alkane has commissioned a study to assess how close possible porphyry intrusions are to the drill hole before deciding on further tests.
The company received a A$165,000 state grant to explore for a copper-gold porphyry at Peak Hill.
Alkane Resources reported deep drilling results from its Peak Hill Gold Project in New South Wales.
Drill hole PHD084 reached 1,651 metres and intersected transitional phyllic alteration beneath the Great Eastern open cut.
About 1 kilometre vertically below the Proprietary open cut, the hole also intersected advanced argillic alteration similar to that mapped at the surface.
Alkane said the results indicate a strong vertical continuation of previously mined epithermal mineralisation.
A study is planned to assess the proximity of possible porphyry intrusives before further testing the target.
- Who
- Alkane Resources Limited.
- What
- A deep drill hole intersected alteration associated with epithermal mineralisation and a possible deeper porphyry environment.
- When
- The results were announced on October 14, 2026.
- Where
- The Peak Hill Gold Project in New South Wales, Australia.
- Why
- Alkane is exploring for a copper-gold porphyry; it received a New South Wales Critical Minerals exploration grant for the work.
This story does not have two clearly opposing sides.
Alkane completed diamond drill hole PHD084 to a depth of 1,651 metres.
Alkane announced the drill results and said a study would assess possible porphyry intrusives near the hole before further testing.
- Company
- Alkane Resources Limited
- Drill hole
- PHD084
- Depth
- 1,651 metres
- Project
- Peak Hill Gold Project, New South Wales
- Grant
- A$165,000 New South Wales Critical Minerals exploration grant