- Assay results for TRDD014W1 return significant higher gold
grade skarn intervals and broad intervals of porphyry style
intrusions at the Trundle Park prospect;
-
- 42m @ 0.42 g/t gold and 0.12%
copper from 358m, including:
-
- 10m @ 1.13 g/t gold and 0.32%
copper from 382m
- 48m @ 0.19 g/t gold and 0.03%
copper from 458m
- 122m @ 0.16g/t gold and 0.03%
copper from 596m
- 10m @ 0.21g/t gold and 0.06%
copper from 750m
- 16m @ 0.11g/t gold and 0.07%
copper from 860m
- For the first time at the Trundle Park prospect most recently
completed hole TRDD028 intersected broad porphyry style intrusions
from near surface (to 467m), with the
targeted deeper intrusive body also intersected (assay results
pending);
- Assay results for TRDD022 (162m @
0.24 g/t gold and 0.04% copper, including 18m @ 0.75 g/t gold and 0.09% copper), TRDD014/W1
and visual interpretation of TRDD028 provided further confidence of
proximity to the core of a large porphyry intrusive system, vectors
for follow up drilling and support the working model of a
vertically extensive mineralized intrusive system that has both
open pit and underground target potential;
- Hole TRDD029 has commenced testing nearer surface intrusive
potential, and also western and southern strike for both skarn and
porphyry type intrusion mineralization at depth.
MELBOURNE, Australia,
Dec. 7, 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 occurrence of the targeted
porphyry intrusive system from surface to depth in TRDD028 (assay
results pending) provides a new nearer surface and potentially open
pit target in addition to the known deeper parts of the system at
the Trundle Park prospect. This is a very positive development and
consistent with a number of the vertically extensive intrusive
deposits at Northparkes that extend from nearer surface to
depth.
Assay results for TRDD014W1
confirmed our initial visual interpretations with broad intrusive
intervals and higher-grade skarn zones. The widths of mineralised
intervals returned in TRRD014W1 and visual intrusions in TRDD028
are very encouraging.
We continue to see the right
rocks and alteration in what is an increasingly large intrusive
system. The recently commenced hole TRDD029 will test the nearer
surface intrusive, and southern and western depth potential, with
the west and south still open for further follow up drilling as we
seek to intersect the higher grade and inner potassic core of the
intrusive system."
Figure 1: Assay results pending for both 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. The latest hole (TRDD028) now also
demonstrates nearer surface potential for a multiple intrusive
system (assay results pending).
These results provided further confidence of proximity to the
core of a porphyry intrusive system such as the multiple deposits
at the neighbouring Northparkes mine or at Cadia-Ridgeway – where
Figure 1 outlines our target model - and supports the working
geological concept of a vertically extensive mineralized intrusive
system that has both open pit and underground target potential.
Figure 3: 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
Assay results have been received for TRDD014W1 that intersected
significant higher gold grade skarn intervals and broad intervals
of porphyry style intrusions. Highlights include:
- 42m @ 0.42 g/t gold and 0.12%
copper from 358m, including:
-
- 10m @ 1.13 g/t gold and 0.32%
copper from 382m
- 48m @ 0.19 g/t gold and 0.03%
copper from 458m
- 122m @ 0.16g/t gold and 0.03%
copper from 596m
- 10m @ 0.21g/t gold and 0.06%
copper from 750m
- 16m @ 0.11g/t gold and 0.07%
copper from 860m
Further details and significant intervals are included in Table
1 and see Figure 4 (c) for a cross section.
This hole was a wedge drilling off previous hole TRDD014,
seeking to extend the original hole to greater depth and provide
coverage towards TRDD022. TRDD014W1 has confirmed, expanded and
returned higher grade skarn intervals, and extended the intrusive
systems returned in both TRDD014 and TRDD022 to depth and on
strike.
Assay results for TRDD014W1 confirmed our initial visual
interpretations with broad intrusive intervals and higher-grade
skarn zones, and the widths of and multiple intervals returned are
very encouraging.
The lithologies, alteration, veining, mineral tenor and
structural interpretations have provided further confidence of a
proximal environment to the targeted causative intrusion at the
Trundle Park prospect, as well as vectors for follow up
drilling.
Initial follow up hole TRDD028 was drilled parallel and west of
TRDD014/W1, and further expanded the deeper intrusive system to the
west but importantly also intersected a broad and nearest to
surface intrusive system identified to date at the prospect.
Figure 4: Recently completed TRDD028 has
intersected broad intervals of the targeted intrusive system nearer
surface than previously recognized at the Trundle Park prospect and
expanded the system to depth and the west of previous
drilling.
Recently commenced follow up hole TRDD029 is further testing the
nearer surface and deeper intrusive system to the west and
south.
(a) Plan view of Trundle Park prospect and planned hole TRDD029
- see Figure 3 (b) for section
(b) Working Leapfrog model and design of hole TRDD029 –
Trundle Park prospect section
(Section line through Figure 3
(a). Length ~900m and width ~1000m, ~400m to the NNE with only the
trace of TRDD029 and TRDD017 to the SSE)
(c) Insert with mineralised intervals and illustration of
strike/down dip target of TRDD029, noting the distance from TRDD029
to TRDD028 is ~150m and 95m west to
TRDD014/17
(Length ~700m and width ~420m)
Table 1: Trundle Park target hole TRDD014W1 -
Significant broad mineralized intervals
Porphyry gold and copper intercepts are calculated using a lower
cut of 0.10g/t and 0.05% respectively.
Internal dilution is below cut off; and, * Dilutions related with
Core loss
From initial logging of TRDD028 notable zones include (with
assay results pending):
- Upper intrusions (surface – 467m): a weathered monzodiorite intrusion was
intersected from surface to 39m
down-hole followed by a short interval of volcanoclastic sandstones
and siltstones to 69m. A broad upper
interval of monzodiorite was then intersected to 467.3m, which was in-turn intruded in multiple
zones by red (interpreted potassic altered) monzonite dyke-like
bodies (<2 and >10m wide).
Quartz-sulphide veins were also observed in the monzonite dykes.
See Figure 6 (a) and (b) for examples of core from this zone.
- Skarn altered volcanoclastic rocks (467 – 741m): a volcanoclastic dominated sequence
(mainly grey sandstones and siltstones) was intersected with
multiple intervals of zoned skarn alteration spaced approximately
100m apart and occurring close by to
intrusion contacts. In the upper (retrograde) skarn two cavities
were observed comprising green
garnet-carbonate-epidote-magnetite-pyrite and minor chalcopyrite
and trace bornite – see Figure 6 (c).
- Lower intrusions (741 – 868.3m): A broad lower interval of
monzodiorite was intersected, with similarities to those observed
in TRDD014W1. Comparatively, to the upper zone, this larger
monzodiorite intrusion is cut by two zones (smaller) of red
monzonite intrusions. See Figure 6 (d).
- Thrust fault with a slice of volcanoclastic sequence then
conglomerate (868 – 879m): the interpreted regionally
significant westerly dipping thrust fault (the Tullamore thrust)
was intersected in close proximity to the forecast depth at
870m and defined by sheared red clays
to 873m down-hole, followed by a
preserved slice of a sheared volcanoclastic sequence +/- pyrite
intersected from 873-878.8m. A dark
red conglomerate unit with fragments of grits, shale and rounded
pebble sized felsic intrusive rock clasts was observed between
878.8-879.4m to end of hole and is
interpreted to be similar to those observed at the end of in hole
TRDD015 and considered to be Devonian aged.
See Figure 6 for examples of the described rock types in TRDD028
and interpreted section for TRDD028 below.
Figure 5: The occurrence of the targeted
preserved porphyry intrusive systems from surface to depth in
TRDD028 (assay results pending) provides a new nearer surface and
potentially open pit target in addition to the ongoing deeper parts
of the system at the Trundle Park prospect
Key observations include: the multiple phase, multiple intrusive
setting returned in TRDD022 (162m @
0.24 g/t gold and 0.04% copper, including 18m @ 0.75 g/t gold and 0.09% copper), TRDD026
and TRDD014/W1, endoskarn intersected in TRDD014W1, TRDD028 coupled
with returned mineral tenor in TRDD022, TRDD014/W1 and TRDD001
(21.1m @ 0.25 g/t gold and 0.03%
copper to EOH), and provides indicators of a proximal environment
to the targeted core of an intrusive porphyry system and vectors
for follow up drill testing.
A recently commenced hole (TRDD029) is an offset scissor hole
stepping out to the west of TRDD028 drilling towards the
south-southeast testing for nearer surface porphyry type intrusive
potential, and the western and southern strike coverage for both
skarn and porphyry mineralization at depth.
The west and south remain open for further follow up drilling
within an identified mineralized corridor. The Company is also
reviewing previous air-core drilling that have returned shallow
intrusions (generally at less than 20m vertical depth from surface), and may warrant
infill coverage to assist advance a shallow, open pit intrusive
system target.
Figure 6: Examples of the rock types in hole
TRDD028 at the Trundle Park prospect
(a) Monzodiorite – Upper interval example from 389m with increasing K-spar (interpreted
potassic) alteration (reddening) along quartz-carbonate-pyrite
veins (inset photo).
(b) Red monzonite (interpreted potassic alteration) cut by
quartz-pyrite veins, then in turn by carbonate veins (inset @
402.8m).
(c) Basaltic andesite lava host rock with a cavity filled by
retrograde skarn comprising green
garnet-carbonate-epidote-magnetite-pyrite, minor chalcopyrite and
trace bornite (purple).
(d) Monzodiorite (grey-brown) – Lower interval example from
793m with increasing dykes of
(interpreted potassic altered) monzonite (red).
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 TRDD028, 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 2: Trundle project - Collar
Information
For further details, including QAQC procedures, please refer to
the following press releases:
1.
|
July 6, 2020 -
Kincora announces high-grade gold-copper results from first hole at
Trundle
|
2.
|
July 23, 2020 -
Kincora reports further strong encouragement at Trundle
|
3.
|
September 3, 2020 -
Kincora provides update on expanded drilling program at
Trundle
|
4.
|
November 30, 2020 -
Kincora intersects broad mineralized zones at Trundle
|
5.
|
January 20, 2021 -
Kincora intersects further shallow mineralization at
Trundle
|
6.
|
March 2021 -
Independent Technical Report for the ASX prospectus
|
7.
|
April 22, 2021 -
Exploration Update
|
8.
|
July 8, 2021 -
Exploration portfolio drilling update
|
9.
|
August 17 2021 -
Significant gold-bearing intervals at Trundle Park
|
10.
|
December 2021 -
Porphyry system extended to surface and depth at Trundle
Park
|
Table 3: Trundle Park target hole 23 -
Significant broad mineralized intervals
Table 4: Trundle Park target hole 26 -
Significant broad mineralized intervals
Porphyry gold and copper intercepts are calculated using a lower
cut of 0.10g/t and 0.05% respectively.
Internal dilution is below cut off; and, * Dilutions related with
Core loss
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 96.7%, with two
holes averaging 85.6%
- 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.
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Orientation of data
in relation to geological structure
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- 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.
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- 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
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- The measures taken to ensure sample
security.
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- 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.
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Audits or
reviews
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- 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
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JORC Code
explanation
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Commentary
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Mineral tenement and
land tenure status
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- 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.
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Exploration done by
other parties
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- Acknowledgment and appraisal of exploration by other
parties.
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- 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.
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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.
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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.
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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.
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Website: www.kincoracopper.com
SOURCE Kincora Copper Limited