Kincora Copper closes in on porphyry target at Trundle
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New results from ongoing drilling at Kincora’s Trundle Project in NSW’s Lachlan Fold indicates the junior explorer is getting ‘very close’ to a big porphyry target with a recently commenced hole testing the higher grade and interpreted core of the targeted system.
Kincora Copper (ASX:KCC) has booked significant broad mineralised intercepts in its latest hole (TRDD022) that provide strong evidence that drilling is proximal to the core of a large porphyry intrusive system at the advanced Trundle project and provided vectors for the ongoing follow up hole.
The Trundle Project bears striking similarities to the neighbouring Northparkes mine – Australia’s second-largest porphyry mine that hosts a series of five economic intrusive systems.
Kincora today reported its geological interpretations and extremely wide assay hits like 162m at 0.24 grams per tonne (g/t) gold and 0.04% copper from 670m, including 46m at 0.54g/t gold and 0.08% copper from 684m, and 18m at 0.75g/t gold and 0.09% copper from 712m.
The grades and widths, particularly for gold, and interpreted alteration and geological setting are believe by Kincora to be akin to a setting just around the core of the Northparkes intrusive systems and Cadia-Ridgeway mine, which are globally significant gold rich copper porphyry deposits.
Kincora’s technical director is certainly well experienced to make such a judgement having originated, managed, and led the discovery phases at Cadia and being a foremost expert on NSW porphyries.
“The wide interval of gold and alteration in TRDD022, and the extensive strike (over 500m) of near-surface skarn mineralisation seen in earlier holes, are strong evidence of a large multiple intrusive porphyry gold-copper system at the Trundle Park prospect,” John Holliday, technical committee chair, and Peter Leaman, senior VP of exploration, said.
“TRDD022 is highly encouraging in that we are potentially very close to our porphyry target. A follow up hole is drilling to the north-northwest of TRDD022 for the potential higher grade and interpreted core of the targeted system.”
These results provide the greatest “proof of concept” support so far for the Trundle project to host a potential series of porphyry intrusive systems.
Improved geological understanding has provided Kincora with the confidence and vectors to drill TRDD022 to comparable depths to where the core of similar systems occurs elsewhere in the wider and immediate region, at Newcrest Mining’s (ASX:NCM) Cadia and CMOC’s Northparkes respectively.
Cadia hosts >50 million oz of gold and >9.5 million tonnes of copper and is one of the largest and lowest cost mines globally, with the Ridgeway deposit alone hosting >7.6 million oz of gold and >1.1 million tonnes of copper, while Northparkes hosts >5.5 million oz of gold and >4.5 million tonnes of copper.
Two rigs are currently operational at the Trundle Park prospect at the Trundle project and the Gateway prospect at the Fairholme project, which is also in the Lachlan Fold and where Kincora last month kicked off drilling to confirm a “Cowal-style” discovery.
Trundle and Fairholme are both advanced exploration stage projects with the hallmarks of the neighbouring Northparkes and Cowal, owned by Evolution Mining (ASX:EVN), deposits respectively, host to a combined >20 million oz of gold and over 5 million tonnes of copper.
This article was developed in collaboration with Kincora Copper, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.