Kincora awarded drilling grant for brownfield Trundle project Kincora awarded A$100,000 drilling grant for the emerging Southern Extension Zone discovery at the brownfield Trundle project under the latest New Frontiers Exploration program by the
Kincora awarded drilling grant for brownfield
Trundle project
Kincora awarded
A$100,000
drilling grant for the emerging Southern Extension Zone discovery
at the brownfield Trundle project under the latest New Frontiers Exploration program by the
New South Wales
(NSW) State Government
Grant awarded on the technical merits of the first direct follow up hole to the highest primary
mineralisation to date at the Trundle project:
Designed and co-funded grant hole to test the causative intrusive porphyry source of the
largest mineralised skarn system in NSW
Follows up
34m
@ 1.45 g/t gold and 0.25% copper in skarn, including an interpreted
porphyry vein that drove
2m
at 19.9 g/t gold and 2.43% copper (hole TRDD032)
Tests two geological target settings for ore grade porphyry mineralisation, including from
potential open pit depths
The grant follows a competitive expert panel review process, monies are non-dilutionary and
funds all direct costs of drilling on a matched dollar-for-dollar basis
The Southern Extension Zone is one of five adjacent system and separate large scale porphyry
targets to be tested in the next phase of drilling across an existing 3.2km mineralised strike (and
open) at the Trundle project
Drilling scheduled to commence in January at the
Dunn's
North open pit porphyry target
(including
10m
to end of hole at 1.99g/t gold and 0.12% copper from
36m
)
Kincora notes other grants issued, supporting:
Geophysics and drilling on an adjacent license and a recent technical discovery within
2.5km of our Nyngan project; and,
Upgraded industrial scale and renewable power through the Trundle project
Reiterates a favorable pro-investment and operating environment in NSW, with the Macquarie
Arc being
Australia's
foremost porphyry region and a Tier 1 global copper jurisdiction
MELBOURNE, Australia
,
Dec. 23, 2022
/CNW/ - Kincora Copper Limited (the Company, Kincora)
(TSXV: KCC) (ASX: KCC) is pleased to announce the award of a
A$100,000
co-funding grant for
the next phase of drilling at the emerging Southern Extension Zone discovery at the Trundle project.
Year in Review, Kincora Copper with CEO, Sam Spring - 3 minute interview
Click image to play video
The grant supports the first direct drill hole to follow up to the interpreted porphyry source that drove
19.9 g/t gold and 2.43% copper (in recent hole TRDD032), and the largest mineralised skarn system
in NSW.
Sam Spring
, President & CEO, commented:
"Copper is a key pillar of the NSW Government's Critical Minerals and High-Tech Metals
Strategy. Recent discoveries in both the Macquarie Arc and Cobar Superbasin highlight the
significant potential for further new globally significant copper projects within NSW's
Lachlan Fold Belt.
We thank the State Government and Geological Survey of NSW for the direct financial
support to Kincora and the wider industry via the New Frontiers Exploration Program and
A$130 million
Critical Minerals and High-Tech Metals Activation Fund. These programs
provide material financial assistance and a strong pro-investment and pro-exploration to
mining message to all stakeholders.
The awards follow a competitive expert panel review process of applications, which were
again in high demand. We feel this provides another independent validation of the
emerging and very exciting Southern Extension Zone discovery at our flagship Trundle
project. Our next hole at this target will test two settings for the porphyry source of what we
believe is the largest mineralised skarn system in NSW, with the size of the skarn
representative of the size of the porphyry source.
The next phase of drilling at Trundle is scheduled to commence next month with the
Company well funded and positioned to commence this high impact and high conviction
drilling program."
Southern Extension Zone discovery and grant
Ore grade copper and gold in skarn has been intersected within the Southern Extension Zone (SEZ)
over at least a
330m
SSE strike and
225m
W-E wide system (and open). The SEZ is a new blind
discovery made by Kincora that materially extends the mineralised system at Trundle to the south.
Assay results for most recent diamond core hole TRDD032 has returned a broad ore grade interval
with the highest-grade primary mineralisation interval to date the Trundle project -
2m
at
19.9 g/t
gold and 2.43% copper, within a broader zone containing
34m
@ 1.45 g/t gold and 0.25%
copper
, within a total of
104m
at 0.59 g/t gold and 0.11% copper from
748m
.
In addition to intersecting prograde and structurally controlled strongly developed retrograde skarn
alteration and mineralisation, common in all four holes to date within the SEZ, the high-grade interval
in TRDD032 hosts a distinct and cemented chalcopyrite-pyrite-quartz-carbonate-muscovite-hematite
porphyry vein cutting prograde garnet-pyroxene skarn.
The four completed holes (TRDD029-32) have confirmed a tabular, bedded, mineralised skarn
system across multiple horizons with greater than
120m
cumulative skarn widths in three of the four
holes. This is very encouraging, large and significant in the context of the geology and mineralisation
within the Macquarie Arc, and assists to provide various vectors for follow up drilling.
The awarded co-operative funding grant supports the first direct follow up hole to the very high
grade porphyry vein in hole TRDD032 and the most southern diamond drill hole at the Trundle
project. The grant application followed recent extensive internal and external expert technical
reviews, including extensive relogging of core.
The grant will support the testing of two alterative skarn-causative intrusive porphyry settings. These
include a lateral and vertical setting, similar to the respective Big Cadia skarn to
Cadia Quarry
porphyry and Little Cadia skarn to Cadia Far East porphyry settings – see Figure 4.
The lateral target setting is at potential open pit depths, located under previous shallow bornite veins
hosted within volcanics. Figure 5 illustrates the lateral and vertical target settings, and the results of
hole TRDD032, compared to the geological vectors and widths/grades that lead to the discovery
holes at
Ridgeway
and Far-East orebodies at Cadia (on the same scale).
NSW Government grants
The NSW government has announced successful recipients for a total of
A$28 million
of funding
grants issued under Stream 2 of the Critical Minerals and High-Tech Metals Activation Fund and
Round Five of the New Frontiers Exploration Program.
Three Stream 2 critical minerals grants share
A$26.5 million
to support key infrastructure projects,
including Sunrise Energy Metals' namesake project receiving a
A$10 million
grant. The latter
supports the proposed connection to the NSW electricity grid at Parkes, and linkage to the Central-
West Orana Renewable Energy Zone (a focus area for wind and solar farms), with construction of a
77km 132kV electrical transmission line from Parkes to Fifield, through the Trundle license,
supporting procurement of 100% renewable electricity.
New Frontiers Exploration Program
1
The New Frontiers Exploration Program, managed by the Department of Regional NSW, is part of
the NSW Government's Critical Minerals and High-Tech Metals Strategy to promote mineral
exploration investment in NSW.
On
June 28th, 2022
, the NSW Deputy Premier announced A
$1.5 million
for round 5 of the program
,
formerly known as the New Frontiers Cooperative Drilling Program, which has an extended scope to
include exploration geophysics as well as drilling.
Maximum funds available to any individual applicant is
$100,000
for drilling programs and
$50,000
for geophysical acquisition on a co-funded 50% basis. Eleven geophysical and eleven drilling grants
were awarded to a total of 19 explorers.
The New Frontiers Exploration Program provides grants to successful applicants for exploration
programs that demonstrate strong prospectivity and technical basis. An experienced panel made up
of government and independent geoscientists assesses applications.
The Company notes other awards issued to neighboring Canadian explorer, Inflection Resources, for
geophysics and drilling on an adjacent license at their recent technical discovery - the Duck Creek
prospect. The Duck Creek prospect is located within 2.5km of Kincora's Nyngan project. Diamond
drilling by Kincora is planned at the Nyngan project, supported by an existing NSW government
cooperative funding grant.
References:
1
Further details available on the New Frontiers Drilling Program at the Regional NSW website:
https://meg.resourcesregulator.nsw.gov.au/geoscience
This announcement has been authorised for release by the Board of Kincora Copper Limited
(ARBN 645 457 763)
About Kincora Copper
Kincora Copper is an active and systematic ASX and TSX-V listed exploration company (ticker
"KCC") focused on world-class copper gold discoveries in
Australia's
foremost porphyry region, the
Macquarie Arc, with the ambition to become the leading pure play porphyry explorer this region.
Kincora is also seeking to realise value from its highly prospective portfolio of porphyry projects
located in the Southern Gobi,
Mongolia's
foremost porphyry region.
For further information please refer to
www.kincoracopper.com
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).
For further information on the Trundle and Northparkes Projects please refer to Kincora's website:
https://kincoracopper.com/the-trundle-project/
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.
Streamline Competent Persons Statement (ASX Listing Rule 5.23)
The information contained in this announcement related to past exploration results of the Company is
extracted from, or was set out in:
the ASX release made by the Company on
October 27, 2022
, titled
"
Trundle Project
Presentation
"
which included a competent person statement from
Paul Cromie
(BSc Hons.
M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and
Society of Economic Geologists), is Exploration Manager Australia for the Company; and,
the ASX
release made by the Company on
July 18, 2022
, titled
"
Highest grade assays to date
from Trundle's Southern Extension Zone discovery
"
which included a competent person
statement from Paul
Cromie
.
The Company confirms that it is not aware of any new information or data which materially affects
the information included in the original market announcements.
Qualified Person
The scientific and technical information in this news release was prepared in accordance with the
standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-
101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and
compiled by Kincora's geological staff under the supervision of
Paul Cromie
(BSc Hons. M.Sc.
Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of
Economic Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose
of NI 43-101.
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.
SOURCE
Kincora Copper Limited
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2022/23/c9624.html
%SEDAR: 00003952E
For further information:
Sam Spring, President and Chief Executive Officer,
[email protected] or +61431 329 345; For media enquiries: Media & Capital
Partners, Angela East at [email protected]; Executive office Canada: 400 - 837
West Hastings Street, Vancouver, BC V6C 3N6, Canada, Tel: 1.604.283.1722, Fax:
1.888.241.5996; Subsidiary office Australia: Vista Australia (formerly Leydin Freyer Corp Pty Ltd),
Level 4, 100 Albert Road, South Melbourne, Victoria 3205, Tel: +613 9692 7222
CO: Kincora Copper Limited
CNW 05:30e 23-DEC-22