Mines and Wines Geological Presentation ORANGE, Australia ,
Mines and Wines Geological Presentation
ORANGE,
Australia
,
May 13, 2022
/CNW/ - Kincora Copper Limited's Exploration Manager, Dr.
Paul Cromie
, will be
presenting at the Mines and Wines conference – Discoveries in the Tasmanides today.
A copy of Dr. Cromie's presentation titled "
Trundle Park prospect: Evolving geological insights through deeper drilling
" is
attached and a copy of the accompanying technical paper published in the Australian Institute of Geoscientists (AIG) Bulletin
is available at:
https://kincoracopper.com/wp-content/uploads/2022/04/20220422_Kincora-Copper_Trundle-Park-paper_MW_AIG-Bulletin.pdf
For further information on the Trundle project please refer to Kincora's website:
https://kincoracopper.com/the-trundle-project/
; and, further details on the Mines and Wines conference is available at:
https://www.minesandwines.com.au
This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)
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 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/
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.
Significant mineralised intervals are reported with dilution on the basis of:
Internal dilution is below the aforementioned respective cut off's; and,
Dilutions related with core loss as flagged by a "*".
The following assay techniques have been adopted for drilling at the Trundle project:
Gold: Au-AA24 (Fire assay), reported.
Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion
with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes
TRDD002-TRDD022.
Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has
been assayed, but not reported.
Assay results >10g/t gold and/or 1% copper are re-assayed.
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.
JORC Competent Person Statement
Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and
approved by Mr.
Paul Cromie
, a Qualified Person under the definition established by JORC and have sufficient experience
which is relevant to the style of mineralization 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'.
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.
Mr.
Paul Cromie
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 Trundle, Fairholme and 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.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
Criteria
JORC Code explanation
Commentary
Sampling
techniques
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement
tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments,
etc.). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement
tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Report.
In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was
used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more
explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual
commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information
Kincora Copper Limited is the operator of the Trundle Project, with
drilling using diamond coring and Air coring methods by DrillIt
Consulting Pty Ltd, from which sub-samples were taken over 2 m
intervals and pulverised to produce suitable aliquots for fire assay
and ICP-MS.
Diamond drilling was used to obtain orientated samples from the
ground, which was then structurally, geotechnically and geologically
logged.
Sample interval selection was based on geological controls and
mineralization.
Sampling was completed to industry standards with 1⁄4 core for PQ
and HQ diameter diamond core and 1⁄2 core for NQ diameter diamond
core sent to the lab for each sample interval.
Samples were assayed via the following methods:
- Gold: Au-AA24 (Fire assay)
- Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis
for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-
MS analysis for 48 elements)
- Copper oxides and selected intervals with native copper: ME-ICP44
(Aqua regia digestion with ICP-AES analysis) has been assayed, but
not reported
- Assay results >10g/t gold and/or 1% copper are re-assayed
Historic sampling on other projects included soils, rock chips and
drilling (aircore, RAB, RC and diamond core).
Drilling
techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g.
core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and
if so, by what method, etc.).
Drilling by Kincora at Trundle used diamond core drilling with PQ, HQ
and NQ diameter core depending on drilling depth and some shallow
depth Air core drilling.
All Kincora core was oriented using a Reflex ACE electronic tool.
Historic drilling on Kincora projects used a variety of methods
including aircore, rotary air blast, reverse circulation, and diamond
core. Methods are clearly stated in the body of the previous reports
with any historic exploration results.
Drill sample
recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to
preferential loss/gain of fine/coarse material.
Drill Core recovery was logged.
Diamond drill core recoveries are contained in the body of the
announcement.
Core recoveries were recorded by measuring the total length of
recovered core expressed as a proportion of the drilled run length.
Core recoveries for most of Kincora's drilling were in average over
96.9%, with two holes averaging 85.0%
Poor recovery zones are generally associated with later fault zones
and the upper oxidised parts of drill holes.
There is no relationship between core recoveries and grades.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
The total length and percentage of the relevant intersections logged.
All Kincora holes are geologically logged for their entire length
including lithology, alteration, mineralisation (sulphides and oxides),
veining and structure.
Logging is mostly qualitative in nature, with some visual estimation of
mineral proportions that is semi-quantitative. Measurements are taken
on structures where core is orientated.
All core and Air core chips are photographed.
Historic drilling was logged with logging mostly recorded on paper in
reports lodged with the NSW Department of Mines.
Sub-
sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results
for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
Once all geological information was extracted from the drill core, the
sample intervals were cut with an Almonte automatic core saw,
bagged and delivered to the laboratory.
This is an appropriate sampling technique for this style of
mineralization and is the industry standard for sampling of diamond
drill core.
PQ and HQ sub-samples were quarter core and NQ half core.
Sample sizes are considered appropriate for the disseminated,
generally fine-grained nature of mineralisation being sampled.
Duplicate sampling on some native copper bearing intervals in
TRDD001 was undertaken to determine if quarter core samples were
representative, with results indicating that sampling precision was
acceptable. No other duplicate samples were taken.
Quality of
assay data
and
laboratory
tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is
considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis
including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether
acceptable levels of accuracy (ie lack of bias) and precision have been established
.
Gold was determined by fire assay and a suite of other elements
including Cu and Mo by 4-acid digest with ICP-AES finish at ALS
laboratories in Orange and Brisbane. Over-grade Cu (>1%) was
diluted and re-assayed by AAS.
Techniques are considered total for all elements. Native copper
mineralisation in TRDD001 was re-assayed to check for any effects
of incomplete digestion and no issues were found.
For holes up to TRDD007 every 20th sample was either a
commercially supplied pulp standard or pulp blank. After TRDD007
coarse blanks were utilised.
Results for blanks and standards are checked upon receipt of assay
certificates. All standards have reported within certified limits of
accuracy and precision.
Historic assays on other projects were mostly gold by fire assay and
other elements by ICP.
Verification
of sampling
and
assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data
Significant intercepts were calculated by Kincora's geological staff.
No twinned holes have been completed.
The intercepts have not been verified by independent personal.
Logging data is captured digitally on electronic logging tablets and
sampling data is captured on paper logs and transcribed to an
electronic format into a relational database maintained at Kincora's
Mongolian office. Transcribed data is verified by the logging
geologist.
Assay data is received from the laboratory in electronic format and
uploaded to the master database.
No adjustments to assay data have been made.
Outstanding assays are outlined in the body of the announcement.
Location of
data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and
other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
Collar positions are set up using a hand-held GPS and later picked up
with a DGPS to less than 10cm horizontal and vertical accuracy.
Drillholes are surveyed downhole every 30m using an electronic
multi-shot magnetic instrument.
Due to the presence of magnetite in some alteration zones, azimuth
readings are occasionally unreliable and magnetic intensity data from
the survey tool is used to identify these readings and flag them as
such in the database.
Grid system used is the Map Grid of Australia Zone 55, GDA 94
datum.
Topography in the area of Trundle is near-flat and drill collar
elevations provide adequate control
Data
spacing and
distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Kincora drilling at Trundle is at an early stage, with drill holes
stepping out from previous mineralisation intercepts at various
distances.
Data spacing at this stage is insufficient to establish the continuity
required for a Mineral Resource estimate.
No sample compositing was applied to Kincora drilling.
Historic drilling on Trundle and other projects was completed at
various drill hole spacings and no other projects have spacing
sufficient to establish a mineral resource.
Orientation
of data in
relation to
geological
structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is
known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have
introduced a sampling bias, this should be assessed and reported if material.
The orientation of Kincora drilling at Trundle has changed as new
information on the orientation of mineralisation and structures has
become available.
The angled drill holes were directed as best possible across the
known lithological and interpreted mineralised structures.
There does not appear to be a sampling bias introduced by hole
orientation in that drilling not parallel to mineralised structures.
Sample
security
The measures taken to ensure sample security.
·
Kincora staff or their contractors oversaw all stages of drill core
sampling. Bagged samples were placed inside polyweave sacks that were
zip-tied, stored in a locked container and then transported to the laboratory
by Kincora field personnel.
Audits or
reviews
The results of any audits or reviews of sampling techniques and data.
Mining Associates has completed an review of sampling techniques
and procedures dated January 31st, 2021, as outlined in the
Independent Technical Report included in the ASX listing prospectus,
which is available at:
https://www.kincoracopper.com/investors/asx-prospectus
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria
JORC Code explanation
Commentary
Mineral
tenement and
land tenure
status
Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any
known impediments to obtaining a licence to operate in the area.
Kincora holds three exploration licences in NSW and rights to a further six exploration licences through an agreement
with RareX Limited (RareX, formerly known as Clancy Exploration).
EL8222 (Trundle), EL6552 (Fairholme), EL6915 (Fairholme Manna), EL8502 (Jemalong), EL6661 (Cundumbul) and
EL7748 (Condobolin) are in a JV with RareX where Kincora has a 65% interest in the respective 6 licenses and is the
operator /sole funder of all further exploration until a positive scoping study or preliminary economic assessment
("PEA") on a project by project basis. Upon completion of PEA, a joint venture will be formed with standard
funding/dilution and right of first refusal on transfers.
EL8960 (Nevertire), EL8929 (Nyngan) and EL9320 (Mulla) are wholly owned by Kincora.
All licences are in good standing and there are no known impediments to obtaining a licence to operate.
Exploration
done by
other parties
Acknowledgment and appraisal of exploration by other parties.
All Kincora projects have had previous exploration work undertaken.
The review and verification process for the information disclosed herein and of other parties for the Trundle project
has 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. Further details of
exploration efforts and data of other parties are providing in the March 1
st
, 2021, Independent Technical Report
included in the ASX listing prospectus, which is available at:
https://www.kincoracopper.com/investors/asx-prospectus
Geology
Deposit type, geological setting and style of mineralisation.
All projects ex
EL7748 (Condobolin) are within the Macquarie Arc, part of the Lachlan Orogen.
Rocks comprise successions of volcano-sedimentary rocks of Ordovician age intruded by suites of subduction arc-
related intermediate to felsic intrusions of late Ordovician to early Silurian age.
Kincora is exploring for porphyry-style copper and gold mineralisation, copper-gold skarn plus related high sulphidation
and epithermal gold systems.
Drill hole
Information
A summary of all information material to the understanding of the
exploration results including a tabulation of the following information for
all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation above sea level in metres) of
the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly
explain why this is the case.
Detailed information on Kincora's drilling at Trundle is given in the body of the report.
Data
aggregation
methods
In reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (e.g. cutting of high grades)
and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for
such aggregation should be stated and some typical examples of such
aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values
should be clearly stated.
For Kincora drilling at Trundle the following methods were used:
Interpreted near-surface skarn gold-copper intercepts were aggregated using a cut-off grade of 0.20 g/t Au and
0.10% Cu respectively.
Porphyry gold-copper intercepts were aggregated using a cut-off grade of 0.10 g/t Au and 0.05% Cu respectively.
Internal dilution below cut off included was generally less than 25% of the total reported intersection length.
Core loss was included as dilution at zero values.
Average gold and copper grades calculated as averages weighted to sample lengths.
Historic drilling results in other project areas are reported at different cut-off grades depending on the nature of
mineralisation.
Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly important in the reporting of
Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle is
known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true
width not known').
Due to the uncertainty of mineralisation orientation, the true width of mineralisation is not known at Trundle.
Intercepts from historic drilling reported at other projects are also of unknown true width.
Diagrams
Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being
reported These should include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional views.
Relevant diagrams are included in the body of the report.
Balanced
reporting
Where comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Intercepts reported for Kincora's drilling at Trundle are zones of higher grade within unmineralised or weakly
anomalous material.
Other
substantive
exploration
data
Other exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk density,
groundwater, geotechnical and rock characteristics; potential
deleterious or contaminating substances.
No other exploration data is considered material to the reporting of results at Trundle. Other data of interest to further
exploration targeting is included in the body of the report.
Historic exploration data coverage and results are included in the body of the report for Kincora's other projects.
Further work
The nature and scale of planned further work (e.g. tests for lateral
extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Drilling at the Mordialloc and Trundle Park targets are ongoing at the time of publication of this report and plans for
further step-out drilling are in place at both the Trundle Park and Mordialloc prospects. Further drilling is proposed at
other Trundle project areas, including air core programs at the Mordialloc, Dunns and Ravenswood South prospects,
that have complementary but insufficiently tested geochemistry and geophysical targets with the aim to find: (a) and
expand near surface copper-gold skarn mineralization overlying or adjacent to (b) underlying copper-gold porphyry
systems.
SOURCE
Kincora Copper Limited
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%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,
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
CO: Kincora Copper Limited
CNW 05:30e 13-MAY-22