Extensive multiple system porphyry complex confirmed at Trundle All five diamond holes of the current Trundle project program have confirmed an extensive multiple system gold-copper complex Four adjacent mineralised system targets drilled with shallow higher grade and board gold-
Extensive multiple system porphyry complex
confirmed at Trundle
All five diamond holes of the current Trundle project program have confirmed an
extensive multiple system gold-copper complex
Four adjacent mineralised system targets drilled with shallow higher grade and board gold-
copper mineralised zones
Assay results received for four of the five holes are to hand, with a technical workshop
planned for the end of May to review final results and plan follow-up activities
A 3.2km gold-copper mineralised strike remains open to the north and south, confirmed up
to
900m
wide (open) and a vertical depth of greater than
800m
Maiden Kincora drilling program has commenced at the Condobolin project while
Trundle results are finalised and workshop completed
Drilling at the Condobolin project tests new geological concepts at existing high grade and
shallow gold-base metal targets at the Meritilga,
Phoenix
and Tilga prospects
MELBOURNE, Australia
,
May 10, 2023
/CNW/ -
John Holliday
, Technical Committee chair, and
Peter Leaman
, VP of Exploration, commented:
"The results of this program further illustrate the very extensive scale (3.2km and open) of
the mineralised zone at the southern portion of the Trundle license. The zone has
demonstrated higher grade potential, including most recent assay results of up to 2.24%
copper and 1.75g/t gold.
The most northern three holes intersected significant zones of mineralisation and alteration
from near surface in a composite intrusive system, including the
strongest and longest
interval of potassic (biotite) alteration to date at the project within the North-East Gold Zone
.
To the south, an extensive mineralised magnetite skarn has been discovered by Kincora
along a
900m
NW–SE trending strike from over
800m
vertical depth in the Southern
Extension Zone to only
240m
at the adjacent Botfield prospect. This is a very significant
mineralising skarn system, with the porphyry intrusive source rocks and pathways to the
skarn open for further exploration.
Alteration zones and grades encountered in all holes of this program are suggestive of
being in a proximal porphyry setting and continue to strongly support our exploration
concept that Trundle has the potential for a series or cluster of porphyry-related ore
deposits.
Following receipt of pending assays a detailed workshop is scheduled to design more drill
targets at Trundle, as drilling continues at the Condobolin project and as we work through a
large number of gold-copper discovery opportunities across a pipeline of 5 projects."
Highlights of new results from Trundle
Botfield prospect
- assay results for hole TRDD037 (western hole) with a
high-grade vein
and
mineralised skarn
from
112m
and
330m
vertical
, respectively:
2.9m
@ 0.95% copper and 0.62g/t gold within coarse banded chalcopyrite-bornite-pyrite
veins (from 129-
132m
), including
0.9m
@ 2.24% copper and 1.75g/t gold (from
131m
).
31m
of anomalous gold and copper within a banded magnetite-pyroxene-feldspar skarn
with pyrite and chalcopyrite, and a later massive magnetite-pyrite-chalcopyrite skarn (from
393-
424m
).
Botfield prospect
- visual interpretation of hole TRDD039
1
(eastern hole) with a
high-grade
vein
and
mineralised skarn
from
80m
and
240m
vertical
, respectively:
Strong hydrothermal hematite-silica alteration overprinting early feldspar altered
volcaniclastic conglomerate and coarse banded chalcopyrite-pyrite veins (from 92-
94m
).
Semi-massive to massive magnetite skarn, including early garnet veins overprinted by
retrograde magnetite (massive) cut by a carbonate-chalcopyrite vein at
288.6m
(from
284.5-
322.40m
).
North-East Gold Zone prospect
- assay results for hole TRDD038 with the
strongest and
longest interval of potassic alteration with sulphides to date at Trundle
(from
220.5m
to
end of hole) within multiple intrusions and the adjacent wall-rocks:
135.5m
@ 0.23g/t gold, 0.02% copper and 10ppm molybdenum from
220.5m
hole remains open (end of hole
357.3m
) pending upcoming workshop noting:
3m
@ 0.53 g/t gold and 0.03% copper from
243m
2m
@ 0.73g/t gold and 0.11% copper from
354m
20m
@ 0.20g/t gold, 0.02% copper and 48.9ppm molybdenum from
326m
Drilling commenced at the high grade Meritilga prospect with promising initial visual
results
1
1
In relation to the disclosure of visual results and estimates, the Company cautions that visual results and estimates should not be considered a proxy or substitute for laboratory
analysis, which are required to determine the widths and grade of the mineralisation reported in preliminary geological logging. The Company will update the market when laboratory
analytical results become available, expected in the next month for the Trundle project and June for the Condobolin project.
Figure 1:
Kincora's drilling at the Trundle project is has confirmed an extensive multiple
system porphyry complex across 4 adjacent system targets and 3.2km mineralised strike.
Neighbouring explorer drilling has also tested the western and southern extensions of
existing known mineralised systems and potential common targets.
Drilling update
Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (
Kincora
or
the
Company
) is pleased to provide
an exploration update from drilling activities in the Lachlan Fold Belt (LFB) in NSW,
Australia
, as the
ongoing program seeks to test a total of 13 gold-copper discovery opportunities across a pipeline of
5 projects.
Kincora has completed five diamond drill holes at four adjacent but separate mineral system targets
at its flagship Trundle project, located in a brownfield setting within the Northparkes Igneous
Complex of the Macquarie Arc. All holes have intersected zones of gold-copper mineralisation at
shallow depths with broader lower grade intervals and localised higher grades.
Assay results returned for four holes, and detailed geological logging of all holes
1
, are suggestive of
an interpreted proximal setting to the targeted porphyry intrusions. This setting, coupled with the
coincident magnetic response, across a long strike, and open both to the north and south, strongly
supports the Company's concept that the southern portion of the Trundle project has the potential for
a series or cluster of high-grade and gold endowed porphyry copper and skarn deposits.
Kincora's drilling has confirmed a 3.2km mineralised strike, from shallow depths, up to
900m
wide
(open) and vertical depth of greater than
800m
.
The observed alteration and mineralisation at each prospect drilled during this program are
interpreted to be analogous to a proximal setting in comparison to the deposits at Northparkes and
Cadia mines.
A workshop, led by the Company's technical committee, is scheduled for the end of the month to
undertake an analysis and review, pending results, to assist and plan follow-up exploration activities
and drilling at the Trundle project.
In the interim, a maiden Kincora drilling program has commenced at the Condobolin project, located
within the Cobar Superbasin and serviced from the Company's Trundle regional base. This program
will test three near surface, high-grade gold-base metal targets within a 2km radius.
Trundle project
Kincora's current phase of drilling at the Trundle project commenced in January
2
and has drilled 5
diamond holes for
1,972m
testing four adjacent mineral systems.
Gold-copper mineralisation at shallow depths have been intersected in all five holes drilled in the
current program with assay results for drilling at the
Dunn's
North and
Dunn's
South prospects
previously reported
3
with higher grade results including:
Dunn's
North (TRDD035):
12.5m
@ 2.77g/t gold from
77.5m
, with
2m
@ 14.2g/t gold
Dunn's
South prospect (TRDD036):
31m
@ 0.49g/t gold, 0.25% copper and 55ppm
molybdenum from
65.9m
, including:
8.6m
@ 1.21g/t gold, 0.26% copper and 90ppm molybdenum from
65.9m
, with
1m
@
6.88g/t gold, 0.30% copper & 46ppm molybdenum
4.5m
@ 0.50g/t gold, 0.79% copper and 180ppm molybdenum from
92.4m
, with
0.5m
@
1.72g/t gold, 2.54% copper and 721ppm molybdenum
Assay results are now to hand for Kincora's first hole at the Botfield prospect and a step out hole at
the North-East Gold Zone, with visual reports for a follow up second hole at Botfield.
Figure 2:
Extensive mineralised magnetite skarn system coming toward surface
Causative mineralising porphyry source and pathway yet to be confirmed for the Southern Extension
Zone (SEZ)-Botfield magnetite skarn
Botfield prospect
Kincora has completed two holes at the Botfield prospect that have for the first time drill tested a
large magnetic high complex coincident with shallow anomalous copper-gold results and an Induced
Polarisation (IP) chargeability high anomaly.
Kincora's first and most western hole TRDD037 at Botfield was drilled on the margin of this
coincident magnetic and IP chargeability anomaly, with follow up hole TRDD039 a step out 260 to
the east and into the geophysical anomalies core, seeking to test if the Botfield prospect was a
large untested skarn and/or porphyry complex associated with the adjacent Southern Extension
Zone (SEZ) discovery.
Holes TRDD037 and TRDD039 indicate that the Botfield prospect is located in an uplifted block, in
the order of over
500m
, to the immediately adjacent SEZ prospect across an interpreted significant
N-S fault zone, with high grade, coarse banded vein hosted mineralisation intersected as close as
80m
vertical depth and board magnetite skarn horizons from
240m
vertical depth – see Figure 2.
Massive to semi-massive and banded magnetite skarn with associated pyrite and chalcopyrite has
been discovered over a NW-SE strike length of over
900m
from the most western hole at the SEZ
(TRDD031) through to and including the most eastern hole at Botfield (TRDD039). This magnetite
skarn is an extensive mineralising system, with mineralising porphyry intrusive source rocks and
pathway to the skarn yet to be confirmed and open for further exploration.
Assay results for hole TRDD037
(western of the holes at the Botfield prospect):
2.9m
@ 0.62g/t gold, 0.95% copper, within coarse banded chalcopyrite-bornite-pyrite veins
(from 129-
132m
), including
0.9m
@ 1.75g/t gold, 2.24% copper (from
131m
)
31m
@ 0.16g/t gold, 0.08% copper, within massive magnetite-pyrite-chalcopyrite skarn (>80%
magnetite, from 393-
424m
downhole,
330m
vertical)
18m
@ 0.20g/t gold, 0.10% copper, within banded magnetite-pyroxene-feldspar skarn with
pyrite and chalcopyrite (<30% magnetite from 402-
420m
)
Visual interpretation of hole TRDD039
1
(eastern of the holes at Botfield):
Strong hydrothermal hematite-silica alteration overprinting early feldspar altered volcaniclastic
conglomerate and coarse banded chalcopyrite-pyrite vein (from 92-
94m
, interpreted to be
similar to 129-
132m
in hole TRDD037)
Almost a
40m
interval of semi-massive to massive magnetite skarn from
284.5m
to
322.40m
,
including early garnet veins overprinted by retrograde magnetite (massive) cut by a carbonate-
chalcopyrite vein at
288.6m
See Table 1 for further details of assay results for hole TRDD037 and Photo 1 for photo's of
aforementioned core from TRDD039.
Photo 1:
Examples of key mineralised zones from hole TRDD039
Assay results pending
(a) Coarse chalcopyrite-pyrite banded carbonate vein (similar to TRDD037 @
131m
) - insert @
92.9m
(b) Semi-massive skarn, pyroxene-feldspar-garnet altered basaltic andesite - insert @
288.6m
of
semi-massive magnetite skarn with massive chalcopyrite vein
CAUTIONARY NOTE:
Photos are of selected intervals which are not representative of the mineralization hosted on the
whole property or the Trundle Park prospect, which the Botfield target area is hosted, but are of the
alteration and lithology's intersected in the mineralized zones within these sections of diamond drill
hole TRDD039.
There is insufficient drilling data to date to demonstrate continuity of mineralized domains and
determine the relationship between mineralization widths and intercept lengths, true widths are not
known.
In relation to the disclosure of visual results and estimates, the Company cautions that
visual results and estimates should not be considered a proxy or substitute for laboratory
analysis, which are required to determine the widths and grade of the mineralisation.
Furthermore, the Company cautions that given the style and nature of mineralisation encountered
visual estimates must be used with a high degree of caution with third party and specialist thin
sections and petrography required to provide a high degree of confidence for visual estimates.
Visual Kincora estimates for Photo 1 (a) are 0.7% chalcopyrite, 0.2% pyrite (0.9% total sulphides)
for the interval from
92m
to
94m
down hole, based on detailed internal geological logging.
Visual Kincora estimates for Photo 1 (b) are 2% chalcopyrite, 5% pyrite (7% total sulphides) for the
interval from
288m
to
290m
down hole, based on detailed internal geological logging.
Assay results for the intervals presented in Photo 1 are anticipated to be at hand and reported next
month.
North-East Gold Zone prospect
Hole TRDD038 was a
170m
step out from previous shallow intrusive hosted gold mineralisation.
Geological logging indicates the strongest and longest interval of potassic alteration (secondary
biotite) with sulphides to date at Trundle (mainly pyrite with trace chalcopyrite) hosted with both
diorite and monzodiorite intrusions and also into the adjacent volcaniclastic wall-rocks. This presence
of secondary biotite and pyrite with traces of chalcopyrite is indicative of a proximal setting to the
mineralising system.
A broad interval was returned of
135.5m
@ 0.23g/t gold, 0.02% copper and 10ppm molybdenum
from
220.5m
, in a sequence of volcaniclastic sandstone and andesite with monzodiorite intrusions –
see Table 2 for further details. The hole remains open (end of hole
357.3m
) pending the upcoming
technical workshop and noting:
3m
@ 0.53 g/t gold and 0.03% copper from 243-
246m
within monzodiorite
2m
@ 0.73g/t gold and 0.11% copper from 354-
356m
within altered volcaniclastic sandstone,
and;
20m
@ 0.20g/t gold, 0.02% copper and 48.9ppm molybdenum from 326-
346m
within altered
volcaniclastic sandstone.
Condobolin project
Kincora has recently consolidated the ground around the historic Condobolin gold-base metal mining
district. This immediate district was previously the focus of 25 informal open pit operations, with
mining impacted by the water table and exploration by the weathering profile. Limited modern
exploration has taken place despite significant new discoveries in the Cobar Superbasin.
Following detailed technical reviews Kincora's commenced program is seeking to test new
geological concepts for the controls of mineralisation at three existing high-grade gold-base metal
targets; the Meritilga;
Phoenix
; and, Tilga prospects – see Figure 3.
The three prospects are located within a 2km radius with the designed program seeking to test the
concept of a potential hub and spoke development scenario.
Hole CDDH001 has commenced at the Meritilga prospect where previous limited prior drilling sought
to test mapped NE trending quartz veins, breccia zones with quartz-sulphide matrix, historic
workings, soil geochemistry, IP chargeability and resistivity anomalies.
The best gold grades compiled from historic information included:
5m
@ 7.9g/t gold, 22g/t silver and 14ppm molybdenum (from
99m
)
10m
@ 5.8 g/t gold, 27 g/t silver and 0.1% copper (from
80m
)
28m
@ 0.76 g/t gold and 4g/t silver (from
26m
)
In Kincora's view, the mapped NE trending breccia zones and veins with quartz only, as identified
from drilling by previous explorers, have proven to not be associated with the main mineralizing
event. These quartz veins are syn-tectonic quartz veins with a similar orientation to regional foliation.
Observations from previous drill cores has noted gold closely associated with sulphides (mainly
pyrite and arsenopyrite) and quartz along breccia zones.
Kincora's new geological concept at the Meritilga prospect is that numerous very significant previous
mineralisation intervals appear to be structurally controlled and inline with prominent regional NW
trending lineaments defined by magnetics. These NW trends are also evident in soil and rock chip
sampling geochemistry and have not been adequately drill tested. The ongoing program is seeking
to test this new concept.
Hole CDDH001 is ongoing with promising initial visual results
1
– see Photo 2.
Photo 2:
Examples of initial early mineralisation zone from ongoing drilling of the first hole at
the Condobolin project, hole CDDH001 at the Meritilga prospect
Assay results pending
(a) Banded epithermal-like quartz veining with pyrite-arsenopyrite at
63.7m
(b) Quartz-pyrite-arsenopyrite filling a breccia from 78.3 to
81m
CAUTIONARY NOTE:
Photos are of selected intervals which are not representative of the mineralization hosted on the
whole property or the Meritilga prospect, but are of the alteration and lithology's intersected in the
mineralized zones within these sections of diamond drill hole CDDH001.
There is insufficient drilling data to date to demonstrate continuity of mineralized domains and
determine the relationship between mineralization widths and intercept lengths, true widths are not
known.
In relation to the disclosure of visual results and estimates, the Company cautions that
visual results and estimates should not be considered a proxy or substitute for laboratory
analysis, which are required to determine the widths and grade of the mineralisation.
Furthermore, the Company cautions that given the style and nature of mineralisation encountered
visual estimates must be used with a high degree of caution with third party and specialist thin
sections and petrography required to provide a high degree of confidence for visual estimates.
Visual Kincora estimates for Photo 2 (a) are 4% arsenopyrite, 3% pyrite (7% total sulphides) for the
interval from
63m
to
64m
down hole, based on detailed internal geological logging.
Visual Kincora estimates for Photo 2 (b) are 5% arsenopyrite and 4% pyrite (9% total sulphides)
from
78m
to
79m
, 3% arsenopyrite and 2% pyrite (5% total sulphides) from
79m
to
80m
, and 4%
arsenopyrite and 2% pyrite (6% total sulphides) from
80m
to
81m
down hole, based on detailed
internal geological logging.
Assay results for the intervals presented in Photo 2 are anticipated to be at hand and reported in
June 2023.
Figure 3: Maiden Kincora drilling program commenced at the Condobolin project
Kincora has consolidated the historic open pit, high grade Condobolin mining district which has had a
lack of systematic modern exploration. Near surface targets for drilling testing the concept of a hub
and spoke development scenario.
Table 1:
Trundle project – Diamond hole collar information
of current drill program
2
For diamond and air-core drilling collar information of previous Kincora holes please refer to the July
17, 2022 press release:
"Highest grade assays to date from Trundle's Southern Extension Zone discovery"
Table 2:
Botfield prospect - hole TRDD037
(western of the two Botfield holes)
Significant interval summary tables
Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and/or 0.05% respectively. Internal dilution is below cut off. Internal dilution is below cut off.
Abbreviations: ab = albite, act = actinolite, alt = alteration, cal-calcite, ch = chlorite, cp = chalcopyrite, ep = epidote, hm = hematite, mt = magnetite, qtz = quartz, py = pyrite
Table 3:
North-East Gold Zone prospect - hole TRDD038
Significant interval summary table
Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and/or 0.05% respectively. Internal dilution is below cut off. Internal dilution is below cut off.
AuEq: $1800/oz Au, 3.55/lb Cu & 42,000/t Mo (100% recoveries).
Abbreviations: ab = albite, act = actinolite, alt = alteration, cal-calcite, ch = chlorite, cp = chalcopyrite, ep = epidote, hm = hematite, mt = magnetite, qtz = quartz, py = pyrite
References:
1
In relation to the disclosure of visual results and estimates, the Company cautions that visual results and estimates should not be considered a proxy or substitute for laboratory
analysis, which are required to determine the widths and grade of the mineralisation reported in preliminary geological logging.
Furthermore, the Company cautions that given the style and nature of mineralisation encountered visual estimates must be used with a high degree of caution with third party and
specialist thin sections and petrography required to provide a high degree of confidence for visual estimates.
The Company will update the market when laboratory analytical results become available, expected in the next month for the Trundle project and June for the Condobolin project.
2
January 19th, 2023 press release: "Kincora commences new phase of drilling at the brownfield Trundle project"
3
March 21st, 2023 press release "Drilling at Trundle intersects shallow mineralisation"
Kincora Copper Limited – NSW drilling program
Following extensive technical reviews, the Company's ongoing drilling program in NSW will seek to
drill test 13 new copper-gold discovery opportunities across 5 projects.
Trundle project background
The Trundle project is located in the Junee-Narromine volcanic belt of the Macquarie Arc, less than
30km from the mill at the Northparkes mines in a brownfield setting within the westerly rift separated
part of the Northparkes Igneous Complex ("NIC"). The NIC hosts a mineral endowment of
approximately 24Moz AuEq (at 0.6% Cu and 0.2g/t Au) and is
Australia's
second largest porphyry
mine comprising of 22 intrusive porphyry discoveries, 9 of which with positive economics.
The Trundle project includes one single license covering 167km
2
and was secured by Kincora in the
March 2020 agreement with RareX Limited ("REE" on the ASX). Kincora is the operator, holds a
65% interest in the Trundle Project and is the sole funder until a positive scoping study is delivered at
which time a fund or dilute joint venture will be formed.
For further information on the Trundle and Northparkes Projects please refer to Kincora's website:
https://kincoracopper.com/the-trundle-project/
Condobolin project background
The Condobolin project is located in the south-eastern section of the Cobar Superbasin, situated
north of the Condobolin township.
The Condobolin project includes two licenses covering 207.4km
2
(EL7748 covering 43.2 km
2
and
EL9340 164.2 km
2
). EL7748 was secured by Kincora in the March 2020 agreement with RareX
Limited ("REE" on the ASX) and EL9340 was pegged by Kincora in 2022, consolidating the historic
high grade Condobolin mining district. This immediate district was previously the focus of 25 informal
open pit operations, with mining impacted by the water table and exploration by the weathering
profile.
Kincora is the operator, holding 100% of EL9340 and a 65% interest in EL7748, and regarding the
latter, is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint
venture will be formed.
This announcement has been authorised for release by the Board of Kincora Copper Limited
(ARBN 645 457 763)
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements
within the meaning of applicable securities laws. Forward-looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other statements that are not
statements of fact. Although Kincora believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will prove to have been
correct. Kincora cautions that actual performance will be affected by a number of factors, most of
which are beyond its control, and that future events and results may vary substantially from what
Kincora currently foresees. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration results, continued
availability of capital and financing and general economic, market or business conditions. The
forward-looking statements are expressly qualified in their entirety by this cautionary statement. The
information contained herein is stated as of the current date and is subject to change after that date.
Kincora does not assume the obligation to revise or update these forward-looking statements,
except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange
accepts responsibility for the adequacy or accuracy of this release.
Drilling, Assaying, Logging and QA/QC Procedures
Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors,
using the Company's protocols as per industry best practise.
All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW,
Australia
.
In addition to internal checks by ALS, the Company incorporates a QA/QC sample protocol utilizing
prepared standards and blanks for 5% of all assayed samples.
Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of
our field geologists. All drill core was logged to best industry standard by well-trained geologists and
Kincora's drill core sampling protocol consisted a collection of samples over all of the logged core.
Sample interval selection was based on geological controls or mineralization or metre intervals,
and/or guidance from the Technical Committee provided subsequent to daily drill and logging
reports. Sample intervals are cut by the Company and delivered by the Company direct to ALS.
All reported assay results are performed by ALS and widths reported are drill core lengths. There is
insufficient drilling data to date to demonstrate continuity of mineralised domains and determine the
relationship between mineralization widths and intercept lengths.
True widths are not known at this stage.
Significant mineralised intervals for drilling at the Trundle project are reported based upon two
different cut off grade criteria:
Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of
0.20g/t and 0.10% respectively; and,
Porphyry intrusion system gold and copper intercepts are calculated using a lower cut of 0.10g/t
and 0.05% respectively.