Kincora increases Lachlan Fold Belt foothold
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New license application for the Mulla gold copper porphyry project, covering 616km2 to the south of ongoing drilling at the Nyngan project and adjacent to the Nevertire project
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The Mulla project covers a regionally significant, multiple phase intrusive complex as indicated by an extensive gravity low and some minimal past drilling. Past hydro-geochemical sampling of water bores identified two relatively shallowly covered target zones
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The 100%-owned Nyngan, Nevertire and Mulla gold copper projects cover an area of approximately 1,761km2 in a highly prospective geologic terrane with encouraging limited previous explorer drilling and increasing neighboring ground pegging and drilling activities
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Kincora's drilling programs continue at the Trundle and the Nyngan projects, with preparations advanced to commence drilling next month at the Fairholme project and as Sultan Resources' continues drilling within 300 metres of our Cundumbul project
MELBOURNE, Australia, June 9, 2021 /CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (ASX: KCC) (TSXV: KCC) is pleased to have applied directly to the NSW State Government for a new exploration license (ELA6304), the Mulla gold copper porphyry project ("Mulla"). The Mulla project covers 616km2 and is located in the interpreted northern undercover and underexplored section of the Junee-Narromine Belt of the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia, and south of the Company's ongoing drilling at the Nyngan project.
Full press release with figures: Kincora increases Lachlan Fold Belt footprint (CNW Group/Kincora Copper Limited)
John Holliday, Technical Committee chair, and Peter Leaman, Senior VP of Exploration, commented: "The Mulla project covers a regionally significant gravity low feature which we consider, based on prior limited drilling and regional geophysics, could potentially host a porphyry complex within Macquarie Arc rocks under relatively shallow cover.
Similar large-scale gravity lows in the Junee-Narromine Belt of the Macquarie Arc are associated with the world-class Cowal and Northparkes mineralised systems, and the Myall porphyry exploration project".
Sam Spring, President & CEO, stated: "The Mulla project hasn't been drill tested since pre Bre-X, with two broad target zones already identified for follow up activities.
Mulla adds to the Company's project pipeline in Australia's leading porphyry belt at a time of increasing neighbouring ground pegging and drilling activities. Only in the last few weeks we have seen significant land grabs in the belt from majors and juniors alike, including adjacent to ongoing drilling activities at our Trundle and Nyngan projects".
Mulla project background
The last period of exploration undertaken within the license area was by Burdekin Resources NL ("Burdekin") before the Bre-X downturn. Burdekin followed up then new regional airborne geophysical data and the "Discovery 2000" water bore hydro-geochemical sampling program, both undertaken by the NSW Department of Mineral Resources.
The Mulla project is situated on a large regionally significant gravity low. A number of significant porphyry related systems and world-class mining operations sit on similar regionally significant gravity lows and major intrusive complexes within the Junee-Narromine Belt of the Macquarie Arc – Figure 2.
Figure 1: Recent significant pegging activities, key projects and Kincora's pipeline of near term drill project
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Key Lachlan Fold Belt players/junior explorers, including pegging since Mar'21 with shadow outlines
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Kincora is currently drilling at the Trundle and Nyngan projects, preparing for drilling at the Fairholme project, and Sultan Resources is currently drilling within 300 metres of the license boundary testing a common target at the Cundumbul project
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Central West, New South Wales, Australia
The public access aeromagnetic and gravity data indicates the existence of several large intrusive volcanic complexes, some of which have been confirmed as multiple-phase diorite-monzonite-quartz monzonite intrusions via Burdekin's limited and shallow drilling of 8 holes for 917 metres – see Figure 3.
Little prior modern exploration has been undertaken on the license area because prospective basement rocks are masked by post-mineral cover. Limited drilling (depth of holes referenced in Figure 3) has proven the cover to be shallow with Artificial Intelligence using Self Organizing Maps ("SoM") adopting neural networks of airborne geophysics coupled with prior end of hole lithology assisting Kincora's direct application selection.
Figure 2: The Mulla project sits on a regionally significant intrusive complex
A number of key porphyry deposits and world-class mining operations sit on regionally significant gravity lows, potentially indicative of major intrusive complexes, within the Junee-Narromine Belt of the Macquarie Arc
Two broad hydro-geochemical target areas were identified by Burdekin with anomalous gold and molybdenum values, and remain untested on complementary gravity and magnetic anomalies. Of note, these values at the Adavale-Mullengudgery zone are in-line or exceed ground waters around the open pits at the Northparkes mine1, and, at the other Mulla target, the Yamba-Mia Mia zone, prior hydro-geochemical and down hole results indicate the potential presence of a fractionated I-type pluton which may have undergone potassic alteration1.
Kincora is pleased to have made direct applications to the NSW government for the Nyngan, Nevertire and Mulla gold copper projects, which cover an area of approximately 1,761km2 in a highly prospective geologic terrane with encouraging limited previous explorer drilling and increasing neighbouring ground pegging and drilling activities. Recent pegging activities in the belt illustrated in Figure 1, including adjacent to Kincora's Trundle and Nyngan projects.
The Company's drilling programs continue at the Trundle (Trundle Park target) and the Nyngan (hole one of a two hole program) projects. Kincora will provide exploration updates in due course and it is noted Sultan Resources maiden diamond drilling campaign at the Big Hill target "continues to progress well" (reference Sultan Resources June 3rd, 2021 press release) within 300 metres of the license boundary of Kincora's Cundumbul project (for further details refer to Kincora's May 19th, 2021 press release).
Figure 3: Artificial Intelligence using Self Organizing Maps of airborne geophysics coupled with prior end of hole lithology assisted Kincora's direct application selection
Two mineralised target zones remain untested having been identified by prior explorer activities that ceased due to the Bre-X downturn
Figure 4: The Mulla project is south of ongoing Kincora, and Inflections' recent, drilling activities and is adjacent to two FMG licenses and Kincora's Nevertire project
The northern Junee-Narromine belt potentially covers the largest intrusive centre of the Macquarie Arc and with a jog and structural grain parallel to the Lachlan Transverse Zone, possibly indicating a locus for porphyry formation
| 1 Sourced: Public access file - 1997 annual report from Burdekin Resources NL for EL4996 Nyngan |
This announcement has been authorised for release by the Board of Kincora Copper Limited (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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose of NI 43-101.
JORC Competent Person Statement
Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and approved by Paul Cromie, a Qualified Person under the definition established by JORC and have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.
Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), is Exploration Manager Australia for the Company. Paul Cromie consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
The review and verification process for the information disclosed herein for the Nyngan project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
| Criteria | JORC Code explanation | Commentary |
| Sampling techniques | | |
| Drilling techniques | | |
| Drill sample recovery | | |
| Logging | | Drilling program: |
| Sub-sampling techniques and sample preparation | | Ground water analysis program: Drilling program: |
| Quality of assay data and laboratory tests | | Ground water chemistry program: Bedrock chemistry program: |
| Verification of sampling and assaying | | |
| Location of data points | | |
| Data spacing and distribution | | |
| Orientation of data in relation to geological structure | | |
| Sample security | | |
| Audits or reviews | | No audits were conducted on the historical datasets. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status | | |
| Exploration done by other parties | | |
| Geology | | |
| Drill hole Information | | |
| Data aggregation methods | | |
| Relationship between mineralisation widths and intercept lengths | | |
| Diagrams | | |
| Balanced reporting | | |
| Other substantive exploration data | | |
| Further work | | |
SOURCE Kincora Copper Limited
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