RareX, Kincora Copper hit mineralisation with first Trundle Park hole
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Special Report: RareX’s Canadian partner Kincora Copper is off to a rousing start at the Trundle project in the Lachlan Fold Belt, with the first hole intersecting multiple zones of mineralisation.
This includes a shallow 28m interval of visually interpreted moderate mineralisation from a depth of 55m with a higher-grade 6.5m interval.
The company noted that drilling by previous explorers had returned assays including a higher-grade interval of 2m at 20 grams per tonne (g/t) gold, 6.97 per cent copper and 81g/t silver from a depth of 64m.
Kincora Copper (TSX.V:KCC) said that while it was still early days in its six-hole drilling program, the first hole had already intersected thicker than expected zones of mineralised skarn.
“The mineral zonation in the well-developed and quite intense skarns supports, and may provide vectors to, a primary porphyry orebody target within the porphyry intrusion system,” the company explained.
“The visual results of this hole confirm our exploration model and significantly increases both the scale and prospectivity of Trundle Park, with multiple large targets for follow up.”
RareX executive director Jeremy Robinson told Stockhead that the first hole at Trundle Park was an important development and that Kincora was drilling a hole at the Mordialloc target before returning to drill another hole at Trundle Park.
Prior drilling at Mordialloc returned porphyry quartz sulphide veins, while one deeper diamond hole on the periphery of the subsequently defined chargeability high outer shell intersected 48m at 0.15 per cent copper, 0.12g/t gold and 41 parts per million molybdenum from 478m.
Kincora secured a 65 per cent interest in the Trundle project in return for an upfront payment and a free carry on exploration for RareX’s remaining 35 per cent interest until the delivery of a positive scoping study or preliminary economic assessment.