Kincora Commences Drilling at the Wongarbon Porphyry Project First ever hole to basement geology commenced at the Wongarbon project Designed to test a large buried magnetic anomaly interpreted as a gold-copper porphyry target
Kincora Commences Drilling at the
Wongarbon Porphyry Project
First ever hole to basement geology commenced at the Wongarbon project
Designed to test a large buried magnetic anomaly interpreted as a gold-copper porphyry
target
Seeks to confirm the Wongarbon project hosts one of the few remaining large and untested
intrusive complexes of the Macquarie Arc and located within a common transverse structure
to the recent 14.7Moz gold equivalent Boda and Kaiser porphyry discoveries
Anticipated 650 metre hole expected to take approximately 4-weeks to complete
Funding grant from the New South Wales (NSW) State Government supports an anticipated cost
of less than US$100,000 to Kincora shareholders
Results will assist optimise follow up exploration, including Kincora's multi-phase partnership with
Fleet Space Technologies' (Fleet Space) utilising its AI-powered ExoSphere platform, which
integrates real-time geophysical sensors, proprietary multiphysics surveys, geochemistry and AI-
enabled drill targeting into a single workflow
Fleet Space has the right to earn a minority non-carried interest in the project with drilling
Melbourne, Australia--(Newsfile Corp. - November 18, 2025) - Gold-copper explorer and hybrid project
generator
Kincora Copper Limited
(ASX: KCC) (TSXV: KCC) (
"Kincora"
or "
the Company
") is
pleased to have commenced drilling at the Wongarbon porphyry project designed to provide the first
ever sample of basement geology and test a prominent magnetic anomaly analogous to the anomalies
associated with the largest greenfield discoveries in the Macquarie Arc in recent decades.
John Holliday, Technical Committee chair, commented:
"There is a good chance that the next Cadia-scale deposit in the Macquarie Arc will be found in the
covered and underexplored parts of the Lachlan Fold Belt.
This is virgin territory and a major opportunity with huge upside. Regional magnetics has proven very
effective in mapping the prospective Macquarie Arc belts and the major porphyry deposits have
identifiable magnetic intrusive complex signatures. The Wongarbon project is a real stand out
untested example of this signature in the right location and with the right features.
I am very excited for Kincora to drill the first hole ever into basement geology at Wongarbon. This hole
is set to finally test a target that I had first recognised back in 1996 before the Cadia-Ridgeway and Far
East discoveries that year.
Wongarbon is a prime candidate for major discovery, and this first hole will provide very valuable
information to assist guide follow up activities."
Sam Spring, President and CEO and Peter Leaman, VP of Exploration, added:
"Wongarbon is an elephant scale target located in elephant country, favorably located near to and
potentially associated with the most significant new porphyry system discovery in NSW of recent
decades (the Boda-Kaiser deposits).
While you can't ever expect to make a discovery with your first hole, regardless this hole will greatly
assist follow up exploration and optimise the innovative multi-phase partnership in place with Fleet
Space.
Coupled with last month's funding grant from the NSW Government, the risk reward scenario is highly
compelling and unique on a global perspective. The expected cost of less than US$100,000 to
Kincora shareholders compares exceptionally well to similar nature targets requiring budgets of
greater than US$1-million in the America's.
This hole is in-line with Kincora's capital efficient value add strategy for its sole funded projects and
offering shareholders multiple shots on goal with seven different licenses being drilled within a 12-
month horizon."
BACKGROUND
The remaining untested intrusive complexes of the Macquarie Arc porphyry geology are a globally
significant exploration opportunity as recently indicated by the significant discovery and resource growth
by Alkane Resources' at the Boda and Kaiser deposits (now 14.7Moz AuEq) and Evolution Mining at the
Cowal mine (taking a resource of 3.4Moz Au at the time of acquisition to now 13.8Moz endowment
producing over 330,000oz Au in FY2025).
Within the district various exploration groups have been having greenfield and early-stage exploration
success at previously untested and open volcano-intrusive complexes of the Macquarie Arc. These
groups include AngloGold Ashanti in partnership with Kincora (at the Nyngan, Nevertire South and
Nevertire projects), AngloGold Ashanti in partnership with Inflection Resources (at the Duck Creek and
Trangie project's), FMG directly and with Magmatic Resources (latter at the Myall project), Gold Fields in
partnership with Gold and Copper (privately held around Cadia, drilling commenced), S2 Resources with
Legacy Minerals (at the Glenlogan project), Newmont with Koonenburry Gold (at the Fairholme and
Junee projects), Gilmore South (LinQ Minerals) and most recently Waratah Minerals (with its new
Consols discovery at the Spur project), amongst others.
In 2024, Kincora opportunistically pegged the Wongarbon project directly from the NSW State (100%
ownership) and has brought in a technical and funding partner (Fleet Space). On October 20
th
2025,
Kincora announced the award of a grant for up to A$143,483 by the State Government supporting
drilling.
The award follows a competitive expert panel review process, monies are non-dilutionary and funds
drilling on a matched dollar-for-dollar basis. The grant is provided by the
Critical Minerals and High-
Tech Metals Exploration Program
within NSW's
Critical Minerals Strategy 2024-35
. These programs
reiterate 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-gold jurisdiction.
The Wongarbon license is interpreted to host one of the very few remaining, completely untested,
volcano-intrusive complexes of the Macquarie Arc. The license covers a large (173km
2
) portion of the
interpreted Macquarie Arc geology situated under post mineral cover that has not previously been drill
tested or sampled.
The Wongarbon project was a priority for drilling in 1996 by Newcrest Mining (led by John Holliday)
before the discoveries at Cadia-Ridgeway and Far East (latter now known as Cadia East) within three
holes of each other that year. Almost thirty years later, Wongarbon remains undrilled and John Holliday is
leading Kincora's exploration strategy at the project and seeking to finally advance the geological
understanding of this new district scale opportunity and a compelling large porphyry system target.
Figure 1: The Wongarbon project is interpreted to hosts one of the few remaining large and
untested intrusive complexes of the Macquarie Arc and be located within a common
transverse structure to the recent 14.7Moz gold equivalent Boda and Kaiser porphyry
discoveries.
Virgin ground on strike and potentially associated with common transverse structures to the best
greenfield discoveries in the Macquarie Arc in recent decades + new gen tech partnership with Fleet
Space + NSW Government Grant.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/274905_kincora1.jpg
Both Alkane and Magmatic Resources are undertaking exploration and drilling at up to seven targets
along a common transverse structure that is interpreted to potentially extend into the Wongarbon license
and be a key control to the 14.7Moz AuEq resource inventory at the Boda and Kaiser porphyry copper-
gold discoveries.
It is well documented that the composite volcanic and intrusive complexes elsewhere in the Macquarie
Arc have large alteration and geochemical halos that are identifiable from regional geophysical surveys
(features interpreted to be present at the Wongarbon project), with the mineralised deposits generally
situated on intrusive level cross-arc structures (such as those currently being tested by Alkane and
Magmatic, hosting the Boda-Kaiser deposits, and, interpreted to extend into the Wongarbon project).
The latter interpretation is also supported by recent proprietary surveys and interpretation at the Boda-
Kaiser deposits by Fleet Space, who Kincora has partnered with to advance the Wongarbon project.
The commence drill hole utilises cost effective mud-rotary drilling cover sequence and diamond core
drilling in the basement rocks with NQ triple tube diameter diamond core tail. This technique is time and
cost effective for gaining initial samples of porphyry-prospective basement and is being used by Kincora
in similar terrain in the Northern Junee-Narromine Belt at the Nyngan, Nevertire South and Nevertire
projects under the earn-in and joint venture agreements with AngloGold Ashanti.
Figure 2: Kincora has commenced drilling the first hole to basement at the Wongarbon project
(EL9652) testing southern section of the Wongarbon Magmatic Complex.
A ~650m rotary mud-diamond tail hole seeks to test a large buried magnetic anomaly interpreted as a
copper-gold porphyry target.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2305/274905_f3ec9fb3a420a87c_004full.jpg
For further details and technical disclosures on the Wongarbon project, please refer to the following
press releases:
October 22
nd
, 2025,
"Kincora awarded drilling grant for Wongarbon project"
October 15
th
, 2024,
"Kincora announces Strategic Investment & Expanded Partnership with Fleet
Space"
June 3
rd
, 2024,
"New Major, Completely Unexplored Porphyry Complex and Drill Targets Secured"
Further details are available on the NSW Government's
Critical Minerals and High-Tech Metals
Exploration Program
and the
Critical Minerals Strategy 2024-35
are available at:
https://www.resources.nsw.gov.au/invest-nsw/industry-support
.
For further details on Fleet Space Technologies, please go to its website at:
https://www.fleetspace.com/
.
For further information, please contact:
Sam Spring, President and Chief Executive Officer
Laurie Thomas, Strategic Advisor
or +61431 329
345
or +1306 341
3826
Media Contact
Julia Maguire, Managing Director, The Capital
Network
or +61 2 7257
7338
Executive office
Subsidiary office Australia
400 – 837 West Hastings Street
C/- JM Corporate Services
Vancouver, BC V6C 3N6, Canada
Level 6, 350 Collins Street
Tel: 1.604.283.1722
Melbourne, VIC, Australia 3000
About Kincora:
Kincora Copper Limited (ASX: KCC) (TSXV: KCC) is an emerging Australia-focused
gold-copper explorer with a hybrid project generator strategy.
The Company is successfully proving up the prospectivity of its extensive project portfolio, which includes
multiple district-scale landholdings and scalable drill ready targets. These assets are located in
Australia's Lachlan Fold Belt and Mongolia's Southern Gobi, two of the globe's leading porphyry belts,
and the historical Condobolin mining field within the Cobar Basin in NSW.
The Company has already unlocked over $100 million of potential partner funding for multiple earlier
stage and/or non-core porphyry projects. These initial deals have supported over 13,500 metres of
drilling and over A$6.5m of partner funded exploration since late 2024, with management fees and
exploration ramping up.
Partner discussions are ongoing for its remaining 100% owned flagship projects that are all situated
within existing porphyry camps containing over 20-million-ounce gold equivalent resource inventory.
By having a significant portfolio of partner funded large porphyry projects, and a very focused program
on a 100% owned Condobolin project, the Company is seeking to position Kincora as a leading
institutional grade explorer in the public Australian and Canadian markets, and the leading project
generator on the ASX.
To find out more, please refer to our 2-page July 2025 corporate strategy:
https://kincoracopper.com/corporate-strategy/
.
The Company's website is:
www.kincoracopper.com
.
This announcement has been authorised for release by the Board of Kincora Copper Limited
(ARBN 645 457 763).
Qualified Person
The scientific and technical information in this announcement 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 staff under the supervision of Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior
Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian
Institute of Geoscientists), Non-Executive Director and Chairman of Kincora's Technical Committee, who
are Qualified Persons for the purpose of NI 43-101
JORC Competent Person Statement
Information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves
are those that have been previously reported (with the original release referred to in this announcement),
in the case of Mineral Resources or Ore Reserves the material assumptions and technical parameters
underpinning the estimates have not materially changed, and have been reviewed and approved by John
Holliday and Peter Leaman, who are Competent Persons under the definition established by JORC and
has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaking to qualify as a Competent
Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. John Holliday and Peter Leaman consents to the inclusion in this report of the matters based
on his information in the form and context in which it appears. The review and verification process for the
information disclosed herein for the Nyngan Projects have included the receipt of all material exploration
data, results and sampling procedures of previous operators and review of such information by Kincora's
geological staff using standard verification procedures.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/274905