Copper-gold explorer and hybrid project generator Kincora Copper Limited (ASX & TSXV: “KCC”) (Kincora or the Company) is pleased to provide an update on positive drilling results from ongoing exploration programs at two projects in the Northern Junee-Narromine Belt (NJNB). These projects are located in the undercover extension of the Macquarie Arc in NSW and being conducted under earn-in and joint venture agreements with AngloGold Ashanti Australia Limited (AngloGold Ashanti)
HIGHLIGHTS
• A successful first drilling program at the Nyngan project has identified multiple Macquarie Arc composite volcano-intrusive complexes:
o Encouraging geology and anomalous assay results support porphyry copper and
epithermal gold potential.
o Targets resulting from the 1Q’2025 ground gravity survey returned encouraging
results, at particularly shallow depths, significantly expanding future search spaces.
o A continuation of further scout drilling and/or a Stage 2 step out phase is proposed.
• Drilling is ongoing at the highly prospective Nevertire South and Nevertire projects:
o The first drilling program at the Nevertire Magmatic Complex (NMC) since Kincora
consolidated the tenement ownership supporting a >8km untested strike.
o Initial obervations reaffirm Kincora’s view that the NMC is the most advanced and
geologically prospective porphyry project in the covered extensions of the Macquarie
Arc.
o Initial seven-hole program ongoing and scheduled for ~2,150 metres.
o Planning has already commenced for follow up geophysical surveys given encouraging
initial results and scale of the existing system ahead of potential follow up drilling.
• Kincora is managing the programs and receives a management fee based on 10% of expenditure.
• The Nyngan, Nevertire South and Nevertire projects are included in two earn-in and joint
ventures with AngloGold Ashanti who has the right to spend up to A$100 million across a
total of five projects covering a continuous strike greater than a 100kms within Kincora’s NJNB portfolio.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, said
“While early days in our first drilling program at the Nevertire South project we are very excited by the large, multi-phase Macquarie Arc volcanic and intrusive complex we are intersecting – we are in what looks to be a very large, mineralised and very prospective system with the right geological signs.
Large scale step-out drilling is ongoing and designed to discover or create a vectoring pattern to a targeted porphyry deposit. We have already seen enough to be planning near term geophysical programs to help guide and refine a high priority next phase of drilling.
It is also worth noting that the conclusion of the first phase of scout drilling at the Nyngan project was particularly successful at testing new targets that emerged from the gravity survey only undertaken in the first quarter this year. Several new mineralised multi-phase volcano-intrusive complexes were intersected at shallow depths, significantly expanding the near-term search space, particularly across the wider Gerar target area. Follow up exploration is planned and will be refined upon receipt of all pending drilling results. Finally, it is also particularly pleasing to see Waratah Resource’s new gold discovery at its Spur porphyry project and the significant interest this has attracted – congratulations to Peter Duerden and his team. It is a great reminder of the geological potential of the Macquarie Arc and the results that testing new geological concepts in new search spaces can yield.”
About us:
About Kincora
Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries. Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia's leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar
superbasin NSW.
For more information please visit Kincora’s website at www.kincoracopper.com
Contact details:
For further information please contact:
Sam Spring, President and Chief Executive Officer
[email protected] or +61431 329 345