- Two rigs are operational at the brownfield Trundle project with
assay results received for the first 16 drill holes;
-
- Skarn copper and gold mineralization at the Trundle Park
prospect extended north and south to over a 500m strike and open
- Vectors identified for targeted causative intrusion porphyry
source
- Maiden drilling program to commence at Nyngan project
- Over 17,000 metres of drilling in the next 12 months post
heavily oversubscribed A$10 million
Initial Public Offering ("IPO") on the Australian Securities
Exchange ("ASX")
- Exploration strategy video outlines scale of targets and
systematic exploration approach
VANCOUVER, BC, April 22, 2021 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV: KCC) (ASX: KCC) is pleased to
report further assay results from recent drilling at the Trundle
Park prospect at the Trundle project located in the Macquarie Arc
of the Lachlan Fold Belt ("LFB") in NSW, Australia. Trundle is the only brownfield
porphyry project held by a listed junior in the LFB. Two rigs are
currently operational at Trundle at the Mordialloc prospect.
John Holliday, Technical
Committee chair, and Peter Leaman,
Senior VP of Exploration, commented: "Deeper drilling by
Kincora at the Trundle Park prospect has resulted in significantly
improved geological modeling, resulting in improved drill hole
targeting and results.
The recent results have confirmed the targeted multiple phase
intrusive system, interpreted to be driving the extensive skarn
alteration. They also reaffirm the shallow higher copper and gold
grade mineralization system, which has more than 500 metres of
strike and remains open.
Further drilling targeting the both the skarn mineralization
and causative intrusive finger porphyries is proposed at Trundle
Park. Drilling is currently ongoing at the northern Mordialloc
prospect where prior explorer drilling did not effectively test the
extensive porphyry system.
A maiden drilling program by Kincora is planned to commence in
May at the Nyngan project as part of a minimum 17,000 metre drill
program in several project areas in the next 12 months.
An updated corporate presentation, including sequencing of
upcoming drilling activities, and exploration strategy video, that
outlines scale of targets and the Company's systematic exploration
approach, are available at www.kincoracopper.com
Figure 1: Kincora's tenement holdings in the
Lachlan Fold Belt
Two drill rigs are currently operational
at the Trundle project with drilling scheduled to commence in May
at the Nyngan project.
(View PDF)
Trundle Park prospect
Having drilled a total of 15 holes at the Trundle Park prospect
(assay results pending for two holes), current activities with two
rigs continue at the Mordialloc prospect. Drilling at the
Mordialloc prospect will take place at the Mordialloc, Mordialloc
North East and Mordialloc South West targets (the latter previously
known as Yarrabandi).
Drilling at Trundle Park has focused on testing the near surface
skarn mineralization and causative intrusive porphyry source,
confirming Kincora's working geological model.
Skarn system target
Recent drilling has provided encouragement for the northern and
southern extensions to the skarn alteration, extending the strike
of the mineralized skarn footprint at Trundle Park to over 500
metres and still open in all directions. Full drill hole collars
and significant assay results are available in Tables 1-9.
Figure 2: Trundle is the only brownfield porphyry
project held by a listed junior in the Macquarie Arc, Australia's foremost and gold rich copper
porphyry belt
Trundle is the western section of the
Northparkes intrusive complex, that hosts the second largest
porphyry mine in Australia, with
Kincora drilling taking place at targets approximately 8.5km
apart
(View PDF)
Assay results from TRDD007 have expanded the mineralization to
the north with intervals including: 39.3m @ 0.21g/t gold and 0.03% copper from
2.6m and 8m @ 0.96g/t gold (Table 1) and 0.34% copper from
158m and also TRDD016 with
12m @ 0.46g/t gold and 0.02% copper
from 58m and 66m @ 0.21g/t gold and 0.03% copper from
130m (Table 9).
Assay results from TRDD0014 and visual indications of advanced
skarn and epithermal alteration in TRDD016 (assays pending) have
extended the mineralisation to the south and west (Figure 3).
TRDD014 intersected multiple skarn horizons including 44m @ 0.20g/t gold and 0.12% copper from
358m, including 7m @ 0.64g/t gold and 0.53% copper (from
385m), and 1.3m @ 2.34g/t gold and 0.54% copper from
487m, and 10m @ 0.73g/t gold and 0.10% copper from
626m.
Further drilling is proposed at Trundle Park to expand the near
skarn mineralised footprint in all directions.
Causative intrusive porphyry target
Assay results and relogging of TRDD010 and TRDD015 have provided
encouragement and vectors for the targeted causative porphyry
intrusive and interpreted source of intersected gold and copper
mineralization in the skarn system. Increased quartz veining and
multiple phases of monzodiorite, felsic alteration and minor zones
of chalcopyrite and molybdenite have been noted. Molybdenite in
TRDD015 was mostly observed in quartz veins cutting monzodiorite in
an interval with 12m @ 0.13 g/t gold,
0.10% copper and 79ppm molybdenite from 426m, including 2m
@ 0.33g/t gold, 0.23% copper and 78ppm molybdenite from
426m (Figure 4 and Table 8).
A key advancement for the Trundle Park prospect from TRDD010 and
TRDD015 has been confirmation of multiple mineralising phases of
the targeted intrusion. Given the mineral tenor intersected in the
nearer surface skarn, the intrusions intersected in TRDD010 and
TRDD015 are not expected to be the main causative source but
provide support for the team's exploration concepts and model, and
vectors for follow up drilling to the north, west and south.
Figure 3: Near surface mineralised zones at the Central
Trundle Park prospect with increasing signs of depth and strike
potential
(View PDF)
Figure 4: Attractive grades occur at shallow
depths at the Trundle Park prospect, with encouraging vectors to
expand the footprint size of the skarn system potential and to the
targeted large related porphyry intrusion system
source
Cross section TRDD016–TRDD015 with working
interpretation of central Trundle Park geology
(View PDF)
Nyngan project
Advanced preparations are in place for drilling at the Nyngan
project to commence in May with permits and approvals in place. The
Boda copper gold porphyry discovery by Alkane Resources provides
proof of concept confirming the undercover northern extension of
the parallel Molong belt and for the underexplored Nyngan region in
the Junee-Narromine belt.
The Nyngan licence is considered likely to include the northern
extension of the mineralised arc. To date, only three drill holes
have been completed to basement. Copper mineralisation has
been reported from at least one of these drill holes.
Kincora has been awarded A$120,000
under the New Frontiers Co-Operative Drilling Grants program from
the Government of NSW for drill testing two porphyry targets at the
Nyngan project.
Corporate presentation and exploration video
Further details on Kincora's recent results, upcoming drilling
plans, scale of targets and systematic exploration approach are
outlined in a new exploration strategy video and corporate
presentation that are available at www.kincoracopper.com
This announcement has been authorised for release by the
Board of Kincora Copper Limited (ARBN 645 457 763)
Table 1: Trundle project - Collar Information (View
PDF)
Table 1: Trundle Park target hole TRDD007 - Anomalous results
for full assays results (View PDF)
Table 2: Trundle Park target hole TRDD009 -
Anomalous results for full assays results (View PDF)
Table 3: Trundle Park target hole TRDD010 -
Anomalous results for full assays results (View PDF)
Table 4: Trundle Park target hole TRDD011 -
Anomalous results for full assays results (View PDF)
Table 5: Trundle Park target hole TRDD012 -
Anomalous results for full assays results (View PDF)
Table 6: Trundle Park target hole TRDD013 - Anomalous
results for full assays results (View PDF)
Table 7: Trundle Park target hole TRDD014 -
Anomalous results for full assays results (View PDF)
Table 8: Trundle Park target hole TRDD015 -
Anomalous results for full assays results (View PDF)
Table 9: Trundle Park target hole TRDD016 -
Anomalous results for full assays results (View PDF)
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 mineralized domains and
determine the relationship between mineralization widths and
intercept lengths.
True widths are not known at this stage.
Significant mineralised intervals 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:
- 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-TRDD016.
- 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 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.
JORC TABLE 1
Section 1 Sampling Techniques and
Data
(Criteria in this section apply to all succeeding
sections).
(View PDF)
Section 2 Reporting of Exploration Results
(Criteria
listed in the preceding section also apply to this section.)
(View PDF)
SOURCE Kincora Copper Limited