Kincora gets closer to Trundle treasure

The latest assays from Kincora Copper’s Trundle Park prospect have provided extra confirmation that the company has hit a significant discovery along the Southern Extension Zone (SEZ) at the Trundle project. As drilling and reviews at this new discovery continue, Kincora has assay results pending for a further two completed diamond holes at the SEZ and 72 air-core holes at seven other prospects across its Trundle and Fairholme projects.

Importantly, the latest assay results at the SEZ discovery back up Kincora Copper’s (ASX:KCC) results reported in March showing Kincora is close to its primary porphyry target at the project in the mineral-rich Macquarie Arc of the Lachlan Fold Belt in NSW.

Results announced from a further diamond hole (TRDD030) have reiterated a very large and multiple-phase mineralising system, with zones of prospective gold and copper tenure returned in three separate skarn (mineral-rich rock) horizons. The cumulative mineralised intervals are across 164m in the upper, middle and lower skarn zones and are not dissimilar to the original discovery hole (TRDD029).

Localised higher-grade intervals of up to 1.68g/t gold and 3.61% copper were intercepted. The middle skarn returned 29m at 0.54 grams per tonne (g/t) of gold and 0.22% copper, including 5m at 1.46g/t gold and 0.56% copper. The lower skarn delivered 22m at 0.51g/t gold.

Kincora also notes that the most recently completed diamond hole (TRDD032) has intersected cumulative skarn alteration across more than 170m down-hole and expanded the skarn system significantly to the east and south. Similar to previous holes in the SEZ, hole TRDD032 has returned visual copper sulphides in three skarn horizons but has also intersected strong alteration and high temperature sulphides, including bornite, covellite and chalcopyrite, in the volcanics overlying the skarns.

Skarn deposits are generally formed on mineralising fluids sourced from – and on the periphery of – porphyry systems. They can support significant mining operations in their own right but are more often developed with the causative intrusion and porphyry deposit(s), which are generally larger in tonnage and higher grades than the skarn.

Highly encouraging and significant in the context of the Macquarie Arc is that the four completed holes to date into the SEZ (TRDD029-32) have confirmed a tabular, bedded, mineralised skarn system across three zones over at least a 325m strike and a 225m west-east wide (and open) system.

Unlike the skarn systems seen further to the north at the Trundle Park prospect, the SEZ is demonstrating: greater amounts of, and widths, of copper in the skarns; higher temperature sulphides (including bornite, covellite and tourmaline) in the overlying volcanics; less faulting and structures; a more favourable tabular setting (to assist vectoring off); and, a yet to be identified intrusive complex.

More extension testing and review under way

As Kincora builds confidence that it’s sitting on a larger and higher-grade porphyry source, it’s testing the southern extension for mineralised intrusions and how big the skarn system on its interpreted periphery might be. The skarn system at the wider Trundle Park prospect is thought to already be the largest skarn system in the Macquarie Arc and in Australia.

The company has also begun internal and external specialist geological reviews of the SEZ to refine locations for high priority follow-up drilling. The internal review will be supplemented by Dr Alan Wilson, a leading independent economic geologist consultant with considerable global and Macquarie Arc porphyry experience.

Kincora Copper — Examples of key mineralised zones from hole TRDD032

John Holliday, Kincora Technical Committee chair, commented: “Assay results from TRDD030 with intervals of ore grade copper and gold in skarn further illustrate a very large and multiple phase skarn mineralised system at the Southern Extension Zone (SEZ) discovery.

And now the most recent hole (TRDD032) has extended the system more than 150m to the southeast by also intersecting significant widths with visible chalcopyrite associated with magnetite-garnet-sulphide skarn and later retrograde quartz-carbonate-sulphide veins. This hole also has strong alteration and high temperature sulphides, including bornite, covellite and chalcopyrite, in the volcanics overlying the skarn.

With four completed holes, two with assay results, along a 330m strike which is 225 metre wide (and open in all directions), we are increasing our geological firepower to maximise our knowledge of this highly prospective SEZ discovery. We are continually seeking to refine vectors for high priority follow-up drilling of our primary target, a large-scale copper-gold mineralised porphyry intrusion source for the skarn mineralisation. This work will now be reinforced by the knowledge of Dr. Alan Wilson, a leading independent economic geologist consultant with considerable global and Macquarie Arc porphyry experience, whom I have previously worked very closely with.

Recently commenced follow up hole TRDD033 is another large step out to the east, seeking to extend the SEZ and locate the porphyry intrusion source. This hole is expected to significantly contribute to our review work and have implications for both follow up drilling at the SEZ and also the Botfield skarn prospect which lies further south.”

Kincora Copper

More assay results are pending soon for Trundle as well as Kincora’s Fairholme project. At the moment assays already in at the lab cover 8 prospects across these two projects, in total for a further 2 diamond holes (for the SEZ) and 74 air-core holes.

As Kincora advances its NSW project portfolio, it is also expecting a maiden JORC resource shortly for its Bronze Fox project in Southern Gobi, Mongolia. The resource for Bronze Fox is expected to gain interest given Zijin Mining’s proposed $46 million total investment announced last week in fellow ASX listed porphyry explorer Xanadu Mining and its Kharmagtai project in the Southern Gobi.

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.