- Most recent drill hole TRDD014W1 has intersected multiple skarn
horizons and broad intervals of porphyry style intrusions at the
Trundle Park prospect (assay results pending);
- This hole was a wedge drilling off previous hole TRDD014 and
has confirmed previous skarn intervals and extended the intrusive
systems returned in both TRDD014 (65.5m @ 0.25 g/t gold & 0.04% copper,
including 10m @ 0.73 g/t gold &
0.10% copper) and TRDD022 (162m @
0.24 g/t gold & 0.04% copper, including 18m @ 0.75 g/t gold & 0.09% copper);
- A follow up hole (TRDD028) has commenced to the west of
TRDD014W1 and south of TRDD022 to further test the identified
mineralized corridor and multiple phase intrusive system associated
with holes TRDD022, TRDD014/W1 and TRDD001 (21.1m @ 0.25 g/t gold and 0.03% copper to end of
hole);
- The direction south from TRDD014/W1 and TRDD028 remains open
for future drill testing.
MELBOURNE, Australia,
Oct. 29, 2021 /CNW/ - Kincora Copper
Limited (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is 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, and Peter Leaman,
VP of Exploration, noted:
"The wedge off and extension
from TRDD014 has intersected the targeted monzonite system
intruding a larger monzodiorite body with zones of interpreted
variable to strongly developed outer potassic alteration. This
setting was generally not apparent in the original TRDD014 hole and
has returned larger interpreted zones of "red" monzonite and
monzodiorite intrusions than TRDD022. TRDD014W1 has provided
significant strike and depth extension from TRDD022, and depth
extension from TRDD014.
These are encouraging signs,
however, we have still not yet intersected the systems core.
Our drilling has demonstrated a significant size and multiple
intrusive system is present with the features suggestive of being
in a proximal environment to a target that offers clear scale
potential. From here, only further systematic drilling will confirm
or downgrade this target.
A recently commenced follow up
hole is being drilled west from and parallel to TRDD014, testing
south of TRDD022, and west of both TRDD014W1 and TRDD001. A clear
intrusive porphyry system target zone is emerging at the Trundle
Park prospect with the south remaining open for further
drilling."
Two diamond rigs remain operational, one currently drilling
TRDD028 at the Trundle Park prospect at Trundle, and the other
completing a fifth hole and final of the first phase diamond
drilling program at the Gateway prospect at the Fairholme project,
with assay results from recent drilling pending.
Figure 1: Kincora is currently drilling
the Trundle and Fairholme projects
- Favourable locations of the key porphyry belts of the Macquarie
Arc
- Advance stage exploration projects with demonstrated large
scale mineralised systems
- Hallmarks to neighbouring world-class deposits
Figure 2: Trundle is the only brownfield
porphyry project held by a listed junior in the Lachlan Fold Belt
(LFB), located within Northparkes Igneous Complex which already
hosts the 2nd largest porphyry mine in Australia (endowment 5.5Moz Au &
4.5Mt Cu1)
- Large geochemical footprints with a cluster of concealed
intrusive deposits at Northparkes
1 Bespoke March 2020 report by
Richard Schodde, MinEx Consulting, for Kincora
|
Trundle Park prospect
Recent drilling at the Trundle Park prospect has confirmed a
significant area and multiple intrusive porphyry system with a
mineralised zone emerging.
Hole TRDD022 returned 162m @ 0.25
g/t gold, 0.04% copper and 9 ppm molybdenum (from 670m), including 46m @ 0.54 g/t gold and 0.08% copper (from
684m) and 18m @ 0.75 g/t gold and 0.09% copper (from
712m) (announced August 17th, 2021: "Significant
gold bearing intervals at Trundle Park"). This hole was
followed up by TRDD026, a scissor hole expanding the system to the
NNW with two distinct zones of the targeted monzonite intrusion
with a larger monzodiorite system (announced September 23rd, 2021: "Porphyry
system extended at Trundle Park").
A wedge drilling off the previous hole TRDD014 (namely
TRDD014W1) sought to test the vertical extent of the main
mineralised zone in TRDD022 down dip and on strike to the SSE, and
to depth and horizontally towards the NNW from TRDD014
(65.5m @ 0.25 g/t gold and 0.04%
copper, including 10m @ 0.73 g/t gold
and 0.1% copper). While testing the intrusive target at depth under
TRDD022 the wedge and extension (TRDD014W1) has intersected the
targeted monzonite vein-dyke system intruding a larger monzodiorite
intrusion with zones of interpreted variable to strongly developed
outer potassic alteration. This setting was generally not apparent
in the original TRDD014 hole and has returned larger interpreted
zones of "red" monzonite and monzodiorite intrusions than TRDD022.
TRDD014W1 has provided significant strike and depth extension from
TRDD022, and depth extension from TRDD014.
Figure 3: TRDD022, TRDD026 and TRDD014W1
confirm a multiple phase, multiple intrusive system with
demonstrated mineral tenor, analogous lithology and alteration to
the targeted intrusive porphyry systems that occur elsewhere in the
wider and immediate region (at Cadia and Northparkes
respectively)
(a) Plan view of Trundle Park prospect and planned hole TRDD028
- see Figure 3 (b) for section
(b) Working Leapfrog model and design of hole TRDD028 –
Trundle Park prospect section
(Section line through Figure 3 (a). Length ~900m and width
~400m)
(c) Insert with mineralised intervals and illustration of
strike/down dip target of TRDD028, noting the distance from TRDD028
to TRDD014W1 is approximately 100m
west and 115m south-west to
TRDD022
From initial logging of TRDD014W1 notable zones include (with
assay results pending):
- Upper skarn zone: cavity filling skarn with early green
garnet-pyroxene-magnetite overprinted by
K-feldspar-carbonate-hematite +/- pyrite +/- chalcopyrite from
298-403.9m downhole, hosted by
volcanoclastic rocks.
- Lower skarn zone: massive tan-brown garnet skarn along
with some voids filled with prehnite and carbonate-epidote +/-
pyrite, in turn cut by later pyrite veinlets, from 458-492m downhole.
- Monzodiorite intrusion: with albite alteration occurs
from 499-849.5m downhole, along with
broad intervals containing red quartz monzonite vein dykes and an
interval with garnet endoskarn (see following descriptions for
points 4 and 5) and pyrite stringers +/- magnetite also noted.
- Quartz monzonite vein dykes: distinctly red, range from
>1cm to <100cm in width, and cut the monzodiorite in two main
intervals from 631-676m and
718.4-769m downhole. Traces of
chalcopyrite along with minor pyrite and quartz were observed as
clots and along veinlets in zones of the quartz monzonite with
pyrite stringers +/- magnetite also noted.
- Endoskarn: comprises a dark brown garnet with magnetite
filling voids within the monzodiorite host rock from
690-718.4m. Magnetite alteration is
strong and can also occur along fine fractures and veinlets
surrounding garnet.
- Thrust fault then further volcanoclastic sequence: the
interpreted regionally significant westerly dipping thrust fault
(the Tullamore thrust) was intersected in close proximity to the
forecast depth at 849.5m and defined
by sheared red clays to 856m
downhole, along with a preserved slice of a sheared volcanoclastic
sequence +/- pyrite intersected from 856-876.65m (end of hole). The latter, indicating the
potential for a stacked volcanic and intrusive system.
See Figure 6 for examples of the described rock types in
TRDD014W1 with Figures 3 and 4 illustrating the current intrusive
model, interpretation and target zone at the Trundle Park prospect.
An illustration of the rocks and alteration in and around the core
of the intrusive systems and deposits at Northparkes are provided
in Figure 5.
The multiple phase, multiple intrusive setting returned in
TRDD022, TRDD026 and TRDD014W1, endoskarn intersected in TRDD014W1,
coupled with returned mineral tenor in TRDD022, TRDD014 and TRDD001
(21.1m @ 0.25 g/t gold and 0.03%
copper to EOH), provides indicators of a proximal environment to
the targeted core of an intrusive porphyry system.
The multiple intrusive deposits at the neighbouring Northparkes
mine and at Cadia-Ridgeway exhibit such a setting around discrete
mineralized cores of only hundreds of metres in width that are
vertically extensive and occur in clusters or a series of deposits.
See Figure 4 for an example of the working alteration, geological
model and target zone of the Trundle Park prospect relative to the
E48 deposit at Northparkes.
A follow up hole (TRDD028) has commenced to the west of and
parallel to TRDD014W1, and south of TRDD022 to further test the
identified mineralized corridor and targeted core of the system
(see Figures 3 and 4). The direction south from TRDD014/W1 and
TRDD028 remains open for future drill testing.
Figure 4: The clusters of deposits at the
neighbouring Northparkes mine and at Cadia-Ridgeway exhibit
multiple intrusive systems and an alteration, lithology and
mineralised setting not dissimilar to the Trundle Park prospect
around discrete mineralized cores of only hundreds of metres width
that are vertically extensive
Figure 5: Illustration the rocks and
alteration in and around the core of the intrusive systems and
deposits at Northparkes
Source:
"Propylitic alteration and element mobility: The Northparkes
Cu-Au System", Adam Pacey, JJ Wilkinson, AJ Boyce & DR
Cooke - 2017
|
Figure 6: Examples of the rock types in
hole TRDD014W1 at the Trundle Park prospect
(a) Monzonite vein-dyke system intruding a larger
monzodiorite intrusion with zones of interpreted variable to
strongly developed outer potassic alteration.
TRDD014W1 has returned larger interpreted zones of "red"
monzonite and monzodiorite intrusions than TRDD022. Monzodiorite
(albite altered) occurred from 499-849.5m. Some examples with red quartz monzonite
fingers are shown.
Insert of albite-chlorite altered volcaniclastic breccia
cross-cut by pyrite-chlorite veinlets with K-feldspar selvedge (at
639.5m downhole)
Grey monzodiorite (crowded) with albite alteration cut by red
quartz monzodiorite vein dykes containing examples with clots and
veinlets with quartz (Q) +/- magnetite (mt) +/-pyrite (py) +/-
chalcopyrite (cpy) (at 665m
downhole).
Monzodiorite (crowded) with albite alteration and hematite
dusting cut by vein sets comprising: (1) early quartz-magnetite,
then (2) kfeldspar (orange-red)-pyrite and (3) later
quartz-pyrite (at 797m
downhole).
(b) Endoskarn filling voids in a monzodiorite host rock,
comprising massive brown garnet (gn) and magnetite (mt), cut by
later white carbonate (cb) and lime-green epidote (ep)
veinlets (at 704.5m
downhole).
(c) The Tullamore thrust fault was intersected in close
proximity to the forecast depth at 849.5m and followed by a
preserved slice of a sheared volcanoclastic sequence +/- pyrite
intersected from 856-876.65m (end of hole) (at 867.1-869.3m
downhole).
Insert volcaniclastic sandstone intensely cross-cut by foliated
carbonate-pyrite-hematite
(d) TRDD014W1 has intersected multiple skarn horizons
Upper skarn zone example with brecciated volcanoclastic
sandstone host rock (dark grey) and a matrix fill of carbonate (cb)
+/- hematite (hm) +/- pyrite (py) +/- chalcopyrite (cpy) (at
306.7m downhole).
Upper skarn zone example with predominantly a matrix fill of
early magnetite (mt) and pyroxene (dark green; px), in turn
overprinted by a later matrix fill of K-feldspar (orange: kfs) +/-
carbonate (cb) +/- pyrite (py) +/- chalcopyrite (cpy) (at
387.7m downhole).
Lower skarn zone example with massive pink-tan garnet (gn) skarn
with minor voids containing prehnite (pale-light blue) +/-
carbonate (cb) +/- epidote (ep) +/- pyrite (py).(at 482.1m downhole).
Photos of selected intervals which are not representative of
the mineralization hosted on the whole property or Trundle Park
prospect but are of the alteration and lithology's intersected in
the mineralized zones in these sections of drill holes TRDD014W1,
and current working geological interpretation presented in Figure
3. 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.
Trundle Project background
The Trundle Project includes one single license covering
167km2 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.
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.
Table 1: Trundle project - Collar
Information
For further details, including
QAQC procedures, please refer to the following press releases:
- July 6, 2020 - Kincora announces high-grade gold-copper results
from first hole at Trundle
- July 23, 2020 - Kincora reports further strong encouragement at
Trundle
- September 3, 2020 - Kincora provides update on expanded
drilling program at Trundle
- November 30, 2020 - Kincora intersects broad mineralized zones
at Trundle
- January 20, 2021 - Kincora intersects further shallow
mineralization at Trundle
- March 2021 - Independent Technical Report for the ASX
prospectus
- April 22, 2021 - Exploration Update
- July 8, 2021 - Exploration portfolio drilling update
- August 17 2021 - Significant gold-bearing intervals at Trundle
Park
- September 23, 2021 - Porphyry system extended at Trundle
Park
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 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 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.
- 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 96.6%, with two
holes averaging 85%
- 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 is
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 mineralized structures.
- There does not
appear to be a sampling bias introduced by hole orientation in that
drilling not parallel to mineralised structures.
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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 two
exploration licences in NSW, a further exploration license
application 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 ELA6304 (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 1st, 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 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 unmineralized 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. Further drilling is
proposed at other Trundle project areas 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