RareX, Kincora drilling outlines Trundle Park’s similarity to Northparkes mineralised system
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Special Report: RareX and Kincora Copper have received “proof of concept” support for finding ‘Northparkes style’ causative porphyry intrusive complexes at their Trundle Park prospect.
TRDD022, the deepest hole drilled to date at the prospect within New South Wales’ red hot Lachlan Fold Belt, intersected a thick interval of equi-crystaline monzodiorite from a depth of 376m to 723m below shallow skarn alteration, which was expected from the geological model.
Recent drilling, logging and geological interpretation at Trundle Park has also provided significantly improved structural interpretation of various key faults and interpreted controls of mineralisation.
These results reiterate operator Kincora’s working geological model and highlight the potential for Trundle to host a series of large-scale gold-rich copper porphyry pipes — like the Northparkes mineralised system on the eastern margin of the same interpreted mineralised complex.
All this is good news for RareX (ASX:REE), which is not only free carried by Kincora Copper (ASX:KCC) for its 35% interest throughout the exploration phase but also has further exposure through its roughly 7% interest in the Vancouver-based company.
Kincora notes that continued systematic drilling at Trundle Park is benefitting from its improved geological understanding of the system and following up on vectors.
Trundle Park is the only brownfield project held by a listed junior in the Lachlan Fold Belt.
Kincora has drilled 22 holes totalling 14,452m to date since initial drilling started in April 2020.
Besides intersecting monzodiorite as expected, TRDD022 also returned the following positive indicators:
Assays have also been received for two holes each at the Trundle Park and Mordialloc prospects.
TRDD017 at Trundle Park intersected a continuation of deeper level skarn towards the west with an assay of 46m at 0.21 grams per tonne gold (g/t) gold from 408m while TRDD018 hit an extension of gold hosted by propylitic altered andesite volcanoclastic rocks.
The latter returned an upper interval of 34m at 0.21g/t gold from 54m and a lower interval of 4m at 2.12g/t gold from 162m.
Over at Mordialloc, TRDD019 hit 20m at 0.2g/t gold and 0.07% copper from 88m while TRDD020 returned 68m at 0.11% copper from 82m.
The ongoing TRDD024 hole is testing the eastern extension potential of high-grade skarn associated mineralisation intersected in TRDD011, which returned an intersection of 42m grading 0.64% copper and 0.58g/t gold from a depth of just 32m.
Kincora and RareX currently have two rigs active at the project and will start drilling this month at the advanced Fairholme project.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.