Duplicate assays undertaken by Kincora Copper to confirm very high metal tenor and a newly identified probably porphyry vein have materially “surprised” on the upside at its flagship Trundle project, with a successful air-core program at the Fairholme project converting two anomalies into highly prospective targets and extending the mineralised system strike at the Gateway target to over 1.6km.
The Trundle project has the potential to be transformative for Kincora Copper (ASX:KCC), with the re-assaying of a intercept from the fourth hole (TRDD032) at the emerging Southern Extension Discovery Zone delivering the highest primary grade hit yet at Trundle with 2m at 19.9 grams per tonne (g/t) and 2.43% copper.
This intercept originally returned a grade of 12.6g/t gold and 2.32% copper from within a broader zone that originally assayed at 34m at 1.02g/t gold and 0.24% copper.
The broader zone grade also increased, now measuring 34m at 1.45g/t gold and 0.25% copper.
Technical committee chair John Holliday, a leading porphyry expert and lead-discoverer of Newcrest Mining’s (ASX:NCM) Cadia deposit, said the new results were very promising.
“The confirmed very high-grade result for the chalcopyrite-rich veined interval in hole TRDD032 is strongly encouraging new evidence for the presence of potential ore-grade porphyry vein mineralisation at Trundle Park, additional to the already discovered significant skarn mineralisation,” he explained.
This is a common feature for a number of existing world-class porphyry system deposits in the mineral-rich Macquarie Arc porphyry belt, including Cadia, which is Australia’s largest gold mine, and further evidence of Kincora getting potentially close to a large and high-grade porphyry deposit that is responsible for the extensive mineralisation in what is believed to be the largest mineralised skarn system in NSW.
Meanwhile, Kincora’s Fairholme project is also delivering encouraging results, with a successful second phase air-core drilling program converting two anomalies into highly prospective targets and significantly extending the mineralisation at the existing Gateway target.
The project, which hosts several large mineralised systems across a 16km strike, sits adjacent and along strike from Evolution Mining’s (ASX:EVN) flagship Cowal mine and wider regional exploration landholding, which hosts a total endowment of around 15Moz of gold and over 500,000 tonnes of copper.
The latest drilling program, which comprised a total of 2,306m of air-core drilling across 22 holes at the Fairholme project, confirmed a mineralised strike of over 1.6km at the Gateway target, which remains fully open to the south.
Anomalous gold and copper were found in all nine shallow holes drilled across a 900m strike at the Gateway target, including grades of up to 3.35g/t gold within 10m at 1g/t gold and 0.34% copper.
Kincora said its air-core program was similar to the original Geopeko reconnaissance RAB drilling to bedrock program over many targets, largely selected on the basis of geophysical data and insufficiently followed up geochemical data.
That program ultimately led to the discovery of the Cowal gold-base metal deposits.
Kincora said there were particularly encouraging results received from the southern trend holes, while drilling also confirmed higher grade potential.
The first drilling programs at the Driftway C and Anomaly 2 targets since 1997 were also very successful.
Three holes drilled at the Driftway C returned broad anomalous end-of-hole copper hits, including 18m at 0.11% copper, while the four holes drilled at the Anomaly 2 intersected intrusion related anomalous copper of 20m at 0.11% copper and 6m at 0.13% copper.
Follow-up air-core and diamond drilling is being planned to expand the open near-surface footprints and evaluate the untested potential for underlying porphyry gold-copper related systems at shallow to moderate depth at the Gateway, Driftway C and Anomaly 2 targets.
Neighbouring success bodes well for Nyngan
Kincora also pointed to the recent positive drilling results flowing from fellow Canada-listed Inflection Resources’ nearby Duck Creek prospect as a leg up for the company’s Nyngan project.
Inflection has reported strong porphyry-style alteration in the first hole to intersect basement at the 4.5 x 5km Duck Creek target.
The target is located just 2.5km from Kincora’s wholly owned Nyngan project, in the interpreted northern extension of the Junee-Narromine belt of the Macquarie Arc.
Kincora is in the process of securing permitting and land access to drill a second hole at the Nyngan project and an initial hole at the Nevertire project. Both projects received cooperative funding grant support under the NSW Government’s New Frontiers Exploration Program.
The company is also awaiting drill results for one diamond hole at the Mordialloc North-East prospect, part of the Trundle project, and expects to soon complete the reviews for the North-East Gold and Southern Extension Zones at the Trundle Park prospect as well as for the Dunn’s and Botfield prospects.
Following the air-core results being to hand for the Fairholme project, air-core and diamond drilling is being planned to expand the open near-surface footprints and evaluate the untested potential for underlying porphyry gold-copper related systems at shallow to moderate depths.
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.