Southern Extension Zone discovery expanded at Trundle Park Assay results for TRDD030 return cumulative gold and copper mineralisation across 164m in three skarn zones: Localised higher grade intervals of up to 1.68g/t gold and 3.61% copper
Southern Extension Zone discovery expanded
at Trundle Park
Assay results for TRDD030 return cumulative gold and copper mineralisation across
164m
in three skarn zones:
Localised higher grade intervals of up to 1.68g/t gold and 3.61% copper
Middle Skarn
:
29m
@ 0.54 g/t gold and 0.22% copper, including
5m
@ 1.46g/t gold and
0.56% copper
Lower Skarn
:
22m
@ 0.51 g/t gold
Most recent hole
TRDD032
has intersected
cumulative skarn intervals of >
170m
below
multiple zones and phases of
moderate to strong potassic and later epidote alteration, in
places cut by quartz veinlets with chalcopyrite, bornite and covellite mineralisation in
volcanics.
Tabular, bedded, mineralised skarn system across three zones
confirmed over
>
325m
NW-SE strike and >
225m
W-E wide
(and open)
in the
Southern Extension Zone (SEZ)
discovery.
Skarn alteration, widths and mineral zonation coupled with sulphide veining in overlying volcanics
supports working interpretation of
targeted causative intrusive source on a lateral setting.
Hole
TRDD033
commenced
stepping out a further
225m
east
and testing the
southern
extension for mineralised intrusions.
Internal and external specialist geological reviews
of the Southern Extension Zone
commenced, seeking to
maximize vectors for follow up drilling.
Assay results are pending for 8 prospects across the Trundle and Fairholme projects
,
including for 2 diamond holes (from the SEZ discovery) and 72 air-core holes. Within the
Mongolian license portfolio, completion of resource estimate work for the Bronze Fox
project is expected shortly
.
MELBOURNE, Australia
,
April 26, 2022
/CNW/ - Kincora Copper Limited (the Company, Kincora)
(TSXV: KCC) (ASX: KCC) is very pleased to provide an exploration update from ongoing drilling at
Trundle Park prospect situated at the brownfield Trundle project, located in the Macquarie Arc of the
Lachlan Fold Belt (LFB) in NSW,
Australia
.
John Holliday
, Technical Committee chair, noted:
"Assay results from TRDD030 with intervals of ore grade copper and gold in skarn further
illustrate a very large and multiple phase skarn mineralised system at the Southern
Extension Zone (SEZ) discovery.
And now the most recent hole (TRDD032) has extended the system more than
150m
to the
southeast by also intersecting significant widths with visible chalcopyrite associated with
magnetite-garnet-sulphide skarn and later retrograde quartz-carbonate-sulphide veins. This
hole also has strong alteration and high temperature sulphides, including bornite, covellite
and chalcopyrite, in the volcanics overlying the skarn.
With four completed holes, two with assay results, along a 330 metre strike which is
225m
wide (and open in all directions), we are increasing our geological firepower to maximise
our knowledge of this highly prospective SEZ discovery. We are continually seeking to
refine vectors for high priority follow-up drilling of our primary target, a large-scale copper-
gold mineralised porphyry intrusion source for the skarn mineralisation. This work will now
be reinforced by the knowledge of Dr.
Alan Wilson
, a leading independent economic
geologist consultant with considerable global and Macquarie Arc porphyry experience,
whom I have previously worked very closely with.
Recently commenced follow up hole TRDD033 is another large step out to the east,
seeking to extend the SEZ and locate the porphyry intrusion source. This hole is expected
to significantly contribute to our review work and have implications for both follow up
drilling at the SEZ and also the Botfield skarn prospect which lies further south."
An accompanying presentation, including further details on the Trundle project, Kincora's pending
news flow pipeline and exploration plans is available at
www.kincoracopper.com
Figure 1: Significant new mineralised zones and extension with the Southern Extension Zone
(SEZ) discovery
The Trundle Park prospect hosts a ~1.3 km NE-SW mineralised system and remains open
Figure 2: Sections and working interpretation of the SEZ discovery
Cross and long section of a tabular, bedded mineralised skarn system confirmed across three zones
over a >
325m
strike (and open in all directions) with quartz sulphide veining in holes TRDD029,
TRDD030, TRDD031 and TRDD032 at the Trundle Park prospect
Figure 3: Concepts and target for commenced hole TRDD033
Hole TRDD033 will provide significant new information for the ongoing review of the SEZ and also
the neighbouring southern Botfield skarn mine prospect. TRDD033 is a ~225m step out east of the
mineralised magnetite skarns intersected in TRDD032 and testing the southern strike potential of
intrusions intersected to the north.
Assay results for drill hole TRDD030 and visuals of TRDD032
Assay results from TRDD030 further illustrate a very large and multiple-phase mineralising system,
with cumulative mineralised intervals of
164m
covering three separate skarn horizons. Zones of
prospective gold and copper tenure were returned in both the Upper, Middle and Lower Skarns.
Assay results are included in Tables 1 and 2.
These results follow not dissimilar widths and grades in previously reported TRDD029
1
, which was
the first hole into the Southern Extension Zone (SEZ) discovery area. While not thought to be
economic intervals, they are interpreted to be suggestive of a significant scale source, provide
vectors for following up drilling and strongly support Kincora's primary target of a causative porphyry
intrusion.
Most recently completed hole TRDD032 has intersected cumulative skarn alteration across >
170m
down-hole and expanded the skarn system significantly to the east, and south.
The four completed holes to date into the SEZ (TRDD029-32) have confirmed a tabular, bedded,
mineralised skarn system across three zones over at least a
325m
SSE strike and
225m
W-E wide
system (and open) – see Figures 1-3. This is very encouraging and significant in the context of the
Macquarie Arc.
Similar to previous holes in the SEZ, hole TRDD032 has returned visual copper sulphides associated
with intervals containing magnetite, in particular the assemblages with (a) early magnetite-garnet-
pyrite-chalcopyrite, in turn cut by later quartz-carbonate-hematite-pyrite-chalcopyrite veins and open
space fillings.
However, there are also traces of bornite, covellite and chalcopyrite occurring in the upper
volcanoclastic rock sequences in TRDD032 associated with an early potassic (Kspar) alteration
interpreted to be overprinted by an epidote-quartz-sulphide alteration phase. Examples of key
mineralised zones/vectors from hole TRDD032 are included in Figure 5.
Review of vectors for follow up drilling
The width, alteration and mineralisation of the respective three skarn zones, coupled with alteration
and mineralisation in the overlying volcanics from holes TRDD029-32 are providing insights to the
interpreted fluid pathways from the targeted causative porphyry intrusion and source.
With assay results available for TRDD029 and TRDD030, and detailed initial logging of TRDD031
and TRDD032, an internal review has commenced seeking to maximise the geological information
available and refine vectors for high priority follow-up drilling.
Visits by Specialist Consultants
Kincora's hosting at site of both Professor
Dave Cooke
and Dr.
Lejun Zhang
, from the Centre for
Ore Deposit and Earth Sciences (CODES), University of
Tasmania
(UTAS), has already assisted
this review. The review will be also supplemented by a more detailed input from, and core relogging
by, Dr.
Alan Wilson
(GeoAqua Consultants). Dr. Wilson is a leading independent economic geologist
consultant with considerable global and Macquarie Arc porphyry experience (refer to Figure 4 for
Kincora's adaptation of Dr. Wilson's original Macquarie Arc model for our current interpretation of
the location of the Southern Extension Zone relative to the targeted causative intrusive source, and a
lateral setting to the existing intersected skarn system).
Figure 4: The Southern Extension Zone is interpreted to be on a lateral setting to the primary
target causative intrusive source and porphyry target
Conceptual and illustrative setting of the SEZ relative to the Macquarie Arc porphyry model with a
targeted causative intrusive porphyry source being at a lateral setting to the skarns intersected in
TRDD029-32 (similar to the Big Cadia skarn and
Cadia Quarry
). The Macquarie Arc porphyry model
is adopted from Dr.
Alan Wilson
.
Exploration outlook
Recently commenced follow up hole TRDD033 is another large step out to the east, seeking to also
determine if the intrusions intersected to the north continue into this portion of the SEZ. TRDD033 is
a ~225m step out east from the mineralised magnetite skarns intersected in TRDD032 and ~430m
from TRDD031. TRDDo33 is also ~450m south of previously intersected mineralised intrusions
(TRDD010). This hole is expected to significantly contribute to the review and have implications for
both follow up drilling at this immediate discovery zone and also the neighbouring southern Botfield
skarn prospect.
Following completion of the current hole TRDD033, as the ongoing technical review is concluded and
before an existing access window closes, a second diamond drill hole is scheduled at the Mordialloc
North-East prospect and prior to a proposed shallow 26-hole air-core program at the Mordialloc
prospect.
The Company currently has a significant amount of assay results pending for 8 prospects across 2
projects (Trundle and Fairholme).
At Trundle this includes two diamond holes at the SEZ (TRDD031-32) and 50 shallow air-core holes
from the
Dunn's
and Ravenswood South prospects.
For the Fairholme project this includes 22 air-core holes across the Anomaly 2, Gateway prospects,
Kennel,
Glencoe
and Driftway-C prospects (with drilling at the Gateway prospect included under a
New Frontiers Cooperative Drilling program grant – see the
January 31
st
, 2022 press release
"
Kincora awarded
$389,500
in drilling grants
" for further details).
Within the Mongolian license portfolio, a maiden JORC resource shortly expected for the Bronze Fox
project.
Further details of the Company's news flow pipeline and exploration strategy is outlined on slide 5 of
the accompanying updated corporate presentation (available at
www.kincoracopper.com
).
Figure 5: Examples of key mineralised zones/vectors from hole TRDD0323 (Assay results
pending)
i. LHS: Kfeldspar-epidote-carbonate-tourmaline vein with pyrite-chalcopyrite @
212.9m
, hosted in
volcaniclastic conglomerate
RHS: Volcaniclastic conglomerate with a collapse breccia comprising chalcopyrite-bornite hosted
in
epidote-kfeldspar-quartz cement @
218.7m
ii. LHS: Quartz-hematite-chlorite vein with chalcopyrite clots and pyrite rimming @
310.4m
RHS: Quartz-carbonate stringer vein with bornite-covellite @
312.1m
in volcaniclastic
conglomerate.
iii. Quartz-carbonate-hematite filling with significant chalcopyrite @ 736.8-
737.2m
iv. Massive magnetite with disseminations of chalcopyrite and pyrite @ 824.5-
825.6m
v. Banded magnetite-pyroxene-brown garnet skarn in volcaniclastic sandstone @ 845.9-
852.9m
,
with insert including massive chalcopyrite
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/
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.
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.