- Kincora's second hole at the Trundle project, at the Mordialloc
target, has intersected strong halo indicators of a mineralized
porphyry intrusion system confirming the targeted geological
setting. These indicators include significant intervals with
visually interpreted localized moderate copper grades and inner
propylitic zone alteration.
- The first two drill holes at both the Mordialloc porphyry and
Trundle Park skarn-porphyry targets have significantly expanded the
scale and prospectivity of these target zones.
- The Mordialloc and Trundle Park targets are located 8.5km apart
and interpreted to lie within the same mineralized complex as
Australia's second largest
porphyry mine at Northparkes, further illustrating the scale and
potential for mineralized systems at the Trundle project.
- The third of the six-hole program is in progress testing the
Bayleys porphyry target.
- Assay results from initial Trundle Park and Mordialloc drill
holes are anticipated within 4 weeks and 5-6 weeks
respectively.
VANCOUVER, BC, June 9, 2020 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV: KCC) is pleased to advise that the
second diamond drill hole (TRDD002) of our maiden drilling program
at the Trundle project, within the Mordialloc target, has been
completed at 790 metres depth.
Hole TRDD002 has intersected significant intrusion hosted
intervals with the targeted geological setting of a high-level,
preserved porphyry system confirmed. The Mordialloc porphyry target
is located approximately 8.5 km north of TRDD001 drilled at the
Trundle Park skarn-porphyry target (visual results announced
May 19th, 2020).
John Holliday, Chairman of
Kincora's Technical Committee, and Peter
Leaman, Senior Vice-President of Exploration, commented:
"While caution must be held without assay results the visual
results of the second hole at the Mordialloc target are very
encouraging.
The scale of the mineralised systems and our geological
concepts has been confirmed in the first two holes of this drilling
program at two targets 8.5km apart. Historically at Trundle over
60,000 metres have been drilled, but over 92% of these holes have
been within the top 50 metres to surface, a depth that the existing
major mines in this belt suggest is just too shallow.
Kincora's initial two deeper holes have returned the most
significant skarn intervals and porphyry intrusion system intervals
to date at the Trundle project. More drilling is now
required to vector towards the potential cores of the respective
targeted systems. We are very excited by the drilled indications so
far. "
Hole TRDD002 was drilled to 790 metres, relative to a planned
700 metres, testing laterally eastward from previous explorer
drilling which had returned metal grades comparable to the
peripheral parts of the Northparkes deposits, with improving grades
down hole, open and coincident with an untested deeper geophysical
target. Kincora's deeper exploration strategy is similar to that
applied in the discovery of Alkane Resources' Boda deposit, and the
other major porphyry deposits in the NSW Lachlan Fold Belt
(Northparkes, Cadia and Cowal).
Further drilling as part of Kincora's maiden and ongoing
six-hole program at the Trundle project is proposed to follow up
the initial positive drill results at the Trundle Park and
Mordialloc targets, with the drilling rig currently testing the
Bayleys porphyry target (TRDD003), located approximately 1km
north-east of the Mordialloc target, and then moving back to
Trundle Park.
Figure 1: Significant porphyry intrusion
system intervals at the Trundle project in Kincora's first hole
testing the Mordialloc target
Hole TRDD002 has returned
intervals with visually interpreted localized moderate copper
grades and inner propylitic zone alteration
Figure 2: Targeted geological setting of
high-level, preserved porphyry system confirmed, analogous to
Cadia, Northparkes and Boda
Hole TRDD002 has returned
better widths, alteration and interpreted mineralization than
previous drilling at the Trundle copper-gold porphyry project
- preliminary review section
The Trundle project
The Trundle project is located 30km west of the China Molybdenum
Company Limited (CMOC) operated Northparkes copper-gold project, in
the same Northparkes Igneous Complex.
Past explorer drilling has been extensive with the completion of
2208 holes for 61,146 metres but deeper drilling into the basement
utilising modern exploration knowledge has been limited.
Over 92% of prior drilling has been to less than 50 metres depth
with just 11 holes beyond 300 metres (0.5% of holes drilled).
Existing significant drill intersections supports vectoring to very
compelling targets for Kincora's ongoing phase 1 drilling program
at three existing mineralised systems – Trundle Park, Mordiallic
and Bayleys. These systems have not been drilled since
industry leading Induced Polarisation survey's, including HPX's
proprietary Typhoon system, and magnetic modelling were
completed.
Further background information
- June 9th, 2020:
Kincora corporate presentation:
https://www.kincoracopper.com/investors/presentations
- June 9th, 2020: RRS
Special Event: Investor Webinar featuring Kincora Copper (TSX.V:
KCC) and RareX (ASX: REE)
- April 7th, 2020:
Richard Schodde and John Holliday video interview of the Lachlan
Fold Belt https://www.kincoracopper.com/investors/interviews
Noted upcoming relevant event
- June 19th, 2020:
John Holliday - Cadia Discovery
A discovery history talk about the acquisition of Cadia by BHP Gold
and the subsequent recognition of the porphyry mineralisation
potential leading to the discovery and development of the Cadia
Hill, Cadia East and Cadia Ridgeway deposits by Newcrest. Free
registration: https://thegeohug.com/june-19th
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 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 Technical Committee Chairman, who are the Qualified
Persons for the purpose of NI 43-101.
The review and verification process for the information
disclosed herein 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.
About Kincora Copper Limited
(KCC – TSXV)
Kincora is an active junior and systematic explorer seeking to
make a major discovery in Mongolia, the Lachlan Fold Belt in
Australia and other prospective
complementary jurisdictions.
Our technical team is credited with multiple discoveries of Tier
1 copper assets. In 3Q'19, Kincora made the strategic decision to
opportunistically pursue entry into the Macquarie Arc, in Central
West of NSW. This is Australia's
foremost porphyry belt, home to the giant Cadia, Northparkes mines
and recent Boda discovery by Alkane Resources.
The Macquarie Arc is synergistic with Kincora's core focus. It
offers: the same scale of target (world-class); the same commodity
mix (copper-gold or gold-copper); the same mineralized setting
(porphyry and/or epithermal gold); supports a similar systematic
exploration approach/exploration methods; and, is a region where
the team has had significant exploration success.
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) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Kincora Copper Limited