News Porphyry system extended at Trundle Park
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Most recent drill hole TRDD026 has intersected multiple broad intervals of porphyry style intrusions at the Trundle Park prospect (assay results pending);
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TRDD026 is a follow-up scissor hole to TRDD022 (162m @ 0.24 g/t gold and 0.04% copper) and has extended the porphyry system approximately 100m on strike and up to 115m down dip;
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Alteration, host lithology, intrusive suite, depth and size of system typical of the multiple intrusive porphyry deposits at the neighboring Northparkes mine;
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A wedge drilling off from previous hole TRDD014 (65.5m @ 0.25g/t gold and 0.04% copper) has commenced, seeking to further extend and connect the intrusive systems returned in both TRDD014 and TRDD022;
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The direction south from TRDD022 remains for future drill testing after the completion of the wedge off TRDD014.
MELBOURNE, Australia, Sept. 23, 2021 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is pleased to provide an exploration update from ongoing drilling at Trundle Park prospect situated at the brownfield Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB) in NSW, Australia.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, noted:
"TRDD026 tested and better defined the NNW potential from TRDD022 intersecting two zones of the targeted system, for which assay results are pending. While we have not yet intersected the systems core we are seeing the encouraging right signs and are deepening an adjacent hole (TRDD014W1).
TRDD014W1 seeks to test the target deeper below TRDD022 and to the SSE, and to determine if the mineralization in TRDD022 (including 46m @ 0.54 g/t gold and 0.08% copper) and TRDD014 (including 10m @ 0.73g/t gold and 0.1% copper) are related, and proximal to the potassic core of the system. Also, we are planning future holes to test the open direction to the south of TRDD022 and TRDD014."
Two rigs remain operational, one currently drilling a wedge off TRDD014 at the Trundle Park prospect at Trundle, and the other has commenced a fourth hole at the Gateway prospect at the Fairholme project.
Trundle and Fairholme are both advanced exploration stage projects with hallmarks of neighbouring deposits, Northparkes and Cowal respectively, with assay results from recent drilling pending.
Figure 1: Kincora is currently drilling the Trundle and Fairholme projects
Figure 2: Trundle is the only brownfield porphyry project held by a listed junior in the Lachlan Fold Belt (LFB), located within Northparkes Igneous Complex which already hosts the 2nd largest porphyry mine in Australia (endowment 5.5Moz Au & 4.5Mt Cu1)
| 1 Bespoke March 2020 report by Richard Schodde, MinEx Consulting, for Kincora |
Trundle Park prospect
Recent drilling of hole TRDD022 by Kincora observed significant broad mineralized intervals comprising 162m @ 0.25 g/t gold, 0.04% copper and 9 ppm molybdenum (from 670m), including 46m @ 0.54 g/t gold and 0.08% copper (from 684m) and 18m @ 0.75 g/t gold and 0.09% copper (from 712m) (announced August 16th, 2021: "Significant gold bearing intervals at Trundle Park"). The results of TRDD022 revealed a large previously untested zone at depth, open in all directions. It provided the greatest 'proof of concept' support to date for Trundle Park to host a porphyry intrusive system, potentially with ore grades.
Detailed geological logging and petrographic analysis of TRDD022 has noted that the better-mineralized zones are in brecciated areas, with strongly developed and variable interpreted outer potassic alteration. These better-mineralized zones exhibit generally centimetre-scale interpreted fingers of monzonite vein-dyke and associated mineralization intruding a monzodiorite intrusion.
TRDD026, the initial diamond drill 'scissor' hole to follow up TRDD022, sought to test the potential for higher-grade gold-copper and along strike approximately 100m NNW from the mineralization zone in TRDD022. TRDD026 has intersected multiple intrusive phases providing further confirmation of, and extension to, the targeted porphyry system.
Figure 3: TRDD022 and TRDD026 provide convincing and increasing evidence of a multiple phase, multiple intrusive system with demonstrated mineral tenor with analogous lithology and alteration to the targeted intrusive porphyry systems that occur elsewhere in the wider and immediate region (at Cadia and Northparkes respectively)
Porphyry system target confirmed and extended: TRDD022 and TRDD026 provide convincing and increasing evidence of a multiple phase, multiple intrusive system with demonstrated mineral tenor with analogous lithology and alteration to the targeted intrusive porphyry systems that occur elsewhere in the wider and immediate region (at Cadia and Northparkes respectively) (CNW Group/Kincora Copper Limited)
(a) Working Leapfrog model – Trundle Park prospect section
(b) Insert with significant mineralised intervals and illustration of strike/down dip target of TRDD014W1
(c) Plan view of the Trundle Park prospect
TRDD026 intersected the targeted monzonite intrusion in two zones:
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Within a footwall to a westerly dipping fault where quartz-monzonite with strong sericite alteration and quartz-carbonate veining, and breccia fill was observed (711m to 749m down hole). This interval is visually interpreted to be similar in mineral composition to the quartz-monzonite observed in TRDD022 (670m to 730m down hole) which is potassic altered and along strike towards the south in relation to TRDD026 (see Figure 5 (b)). The intersection of the approximately 40m estimated near true width of the targeted lithological unit (quartz-monzonite) is encouraging.
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A multiphase felsic intrusion sequence was then intersected from 746m to 826.9m, interpreted to be representative of the true width of this unit of the system (eg approximately 80m). This zone is dominated by monzodiorite, with interpreted later intrusions of minor quartz monzonite exhibiting patchy potassic alteration and also quartz monzodiorite with chlorite-silica alteration.
The potassic altered quartz monzonite, with chalcopyrite mineralization (see Figure 5(d)), in TRDD026 at 750m down hole depth appears similar to and is interpreted to be related to the potassic altered quartz monzonite in hole TRDD022 at 715m depth containing elevated gold and copper. Importantly, this interpretation supports potassic alteration occurring approximately 100m along strike and to the north of TRDD022.
See Figure 5 for examples of rock types in TRDD026 and interpreted equivalent units to TRDD022 with Figures 3 and 4 illustrating the current intrusive model and interpretation at the Trundle Park prospect.
The multiple phase, multiple intrusive setting returned in TRDD022 and TRDD026, coupled with returned mineral tenor in TRDD022 provides indicators of a proximal environment to the targeted core of an intrusive porphyry system. The multiple intrusive deposits at the neighbouring Northparkes mine and at Cadia-Ridgeway exhibit such a setting around discrete mineralized cores of only hundreds of metres width that are vertically extensive and occur in clusters or a series of deposits. See Figure 4 for an example of the working alteration and geological model of the Trundle Park prospect relative to the E48 deposit at Northparkes.
A wedge drilling off the previous hole TRDD014 has commenced. This hole TRDD014W1 is seeking to test the vertical extent of the main mineralized zone in TRDD022 (46m @ 0.54 g/t gold and 0.08% copper) down dip and on strike to the SSE, and horizontally to the NNW from TRDD014 (10m @ 0.73g/t gold and 0.1% copper). Importantly, TRDD014W1 seeks to determine the potential for the mineralization in these two holes to be related, and proximal to the potassic core of the currently defined intrusive system.
Figure 4: Interpreted structurally controlled sericitic overprinting alteration phase intersected in TRDD026 adjacent to potassic alteration in TRDD022 supports a further potential mineralising event within the porphyry system at Trundle Park
While sericitic alteration in the traditional porphyry model is generally associated to be located in a higher level in the system, deep-level sericite alteration often occurs overprinting or adjacent to the core of the E48, E26, E27 and E22 porphyry deposits and E44 skarn deposit at the neighbouring Northparkes system.
Figure 5: Examples of the rock types and multiple intrusive phases in holes TRDD022 and TRDD026 at the Trundle Park prospect
(a) Monzodiorite and quartz monzodiorite intrusions
Top: Medium grained equi-granular monzodiorite (light red) cut by quartz-monzodiorite (dark red) from hole TRDD022 (at 643.6m downhole).
Bottom: Medium grained equi-granular monzodiorite (light grey) crosscut by quartz monzodiorite (dark grey) from TRDD026 (at 762.65m downhole).
(b) Quartz monzonite intrusions
Top: Medium grained equi-granular monzodiorite (light red) cut by potassic altered quartz monzodiorite (dark red) from TRDD022 (at 713.7m downhole).
Bottom: Medium grained quartz-monzonite (tan-lime) with strong sericite alteration and quartz-carbonate veining from hole TRDD026 (at 724.5m downhole).
(c) Skarn alteration
Top: Skarn alteration, strong chlorite-garnet-epidote altered volcaniclastic breccia crosscut by late carbonate veinlets from TRDD022 (at 802.9m downhole).
Bottom: Mega crystal andesite with strong magnetite-chlorite-hematite alteration cut by carbonate-quartz-chalcopyrite veins (LHS), in turn crosscut by medium grey monzodiorite (RHS) from TRDD062 (at 739m downhole).
(d) SSE margin of quartz monzonite intrusions
Top: Potassic altered quartz-monzonite (dark red), cutting quartz-monzodiorite (dark grey), in a mineralised interval with: 2m @ 0.42g/t gold, 0.11% copper and 7ppm molybdenum from hole TRDD022 (at 710.6m downhole).
Bottom: Interpreted strongly potassic (red) altered quartz monzonite cross cut by carbonate-chlorite-chalcopyrite veinlets from TRDD026 (at 750m downhole).
Photos of selected intervals which are not representative of the mineralization hosted on the whole property or Trundle Park prospect but are of the alteration and lithology's intersected in the mineralized zones in these sections of drill holes TRDD022 and TRDD026, and current working geological interpretation presented in Figure 3. There is insufficient drilling data to date to demonstrate continuity of mineralized domains and determine the relationship between mineralization widths and intercept lengths, true widths are not known.
Trundle Project background
The Trundle Project includes one single license covering 167km2 and was secured by Kincora in the March 2020 agreement with RareX Limited ("REE" on the ASX). Kincora is the operator, holds a 65% interest in the Trundle Project and is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint venture will be formed.
This announcement has been authorised for release by the Board of Kincora Copper Ltd (ARBN 645 457 763)
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws. .............Bluetick