Newly discovered higher-grade zones expand the large-scale gold-copper system at Trundle Park
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Ongoing drilling at Kincora's Trundle Park prospect has yielded significant encouragement. Three zones of mineralised skarns have been intersected in most recent hole TRDD029. The cumulative mineralised interval amongst the three units totals some 213m.
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Assay results are only available for the Upper skarn which has returned 36m @ 1.17 g/t gold equivalent1. Remaining results are due in approximately 5 weeks.
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Notable mineralised skarn intervals encountered in TRDD029 are:
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Gold-copper mineralization now confirmed over a ~1.3 km strike and open
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Follow up hole TRDD030 is ongoing, testing the up and down dip extent of the Upper skarn zone in TRDD029 and for a causative porphyry intrusion
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Assay results returned for TRDD028 have returned multiple broad lower grade gold zones
MELBOURNE, Australia, Jan. 25, 2022 /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.
Kincora - Corporate Presentation January 2022 (CNW Group/Kincora Copper Limited)
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, noted:
"Hole TRDD029 has returned very encouraging assay and visual results in newly discovered magnetite skarn zones typical of Macquarie Arc porphyry systems. We eagerly await assay results for the remainder of the hole.
TRDD029 opens up a significant search space south, east and west of previous drilling. This hole has further confirmed and expanded a very large mineralised system at Trundle Park that hosts the potential for a cluster of higher-grade skarn and porphyry intrusion bodies.
Despite recent rain, good drilling metres are being achieved. Ongoing hole TRDD030 will provide a better understanding of the new large mineralised zones returned in TRDD029 and coverage of the previously untested southern strike of the currently defined ∼1.3 km mineralised system at Trundle Park."
An updated corporate presentation, including further details on the Trundle project and recent drill results, is available at www.kincoracopper.com
Figure 1: Examples of key mineralised zones in hole TRDD029 - Trundle Park prospect2
| (a) | i. Upper skarn: @ 735m within 734-736m @ 1.94 g/t gold & 0.94% copper, comprising: prograde garnet (olive)-magnetite (black)-pyrite (dark yellow)-chalcopyrite (yellow), cut by later retrograde carbonate (tan iron carbonate and white calcite)-hematite (red)-chalcopyrite (yellow) |
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| | ii. Upper skarn: @ 757.4m within 756-758m @ 0.96 g/t gold & 0.48% copper, with a similar mineralogy description and paragenesis as mentioned in Figure 1 (a) i. |
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| (b) | i. Middle skarn (assay results pending): @ 828.6m LHS (towards contact with the overlying limestone unit and Middle Skarn unit with chalcopyrite clots of up to 5%) & @ 858m RHS (garnet-magnetite-pyrite-chalcopyrite) |
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| | ii. Middle skarn (assay results pending): @ 877.6m, predominantly with magnetite (black)-garnet (olive)-disseminated pyrite (dark yellow) and disseminated chalcopyrite (yellow) |
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| | iii. Middle skarn (assay results pending): @ 892.4m LHS (garnet-magnetite-pyrite + disseminated chalcopyrite) & @ 905m RHS (magnetite-garnet-pyrite-chalcopyrite, cut by iron carbonate-calcite with clots of chalcopyrite) |
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| | iv. Middle skarn: @ 940.3m (assay results pending): magnetite (black)-garnet (olive)-disseminated pyrite (dark yellow) and disseminated chalcopyrite (yellow). |
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| (c) | i. Lower skarn: @ 984.6m (assay results pending): developed in crystalline limestone (light-grey) with disseminated magnetite (black)-pyrite (dark yellow)-chalcopyrite (yellow) and hematite (red) along with later carbonate fill (white). |
| 1 gold equivalent calculated @ US$1834/oz gold and US$4.52/lb copper with 100% recoveries |
| 2 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 mineralised zones in these sections of drill hole TRDD029, and current working geological interpretation presented in Figure 2. |
| There is insufficient drilling data to date to demonstrate continuity of mineralised domains and determine the relationship between mineralization widths and intercept lengths. True widths are not known. |
Figure 2: Significant new mineralised zones intersected in TRDD029 with gold-copper mineralization now confirmed over ∼1.3 km strike and open at Trundle Park
| (a) | Plan view of Trundle Park prospect, multiple visually significant mineralised zones in TRDD029 and
ongoing hole TRDD030 - see Figure 2 (b) & (c) for sections |
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| (b) | Working Leapfrog alteration model and section of the Trundle Park prospect |
| | (Section line looking southeast through Figure 2 (a). Length ~1450m and width ~600m) |
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| (c) | Key alteration and intrusions with significant mineralised intervals/holes |
| | Illustration of strike/down dip target of TRDD030, noting collar distance to TRDD029 is ~685m |
| | (Section line looking southeast through Figure 2 (a). Length ~1450m and width ~600m) |
Drill hole TRDD029
Hole TRDD029 followed up the nearer surface intrusion potential recognized in TRDD028 (latter announced December 6, 2021 release "Porphyry system extended to surface and depth at Trundle Park"). It was also designed to test the western and southern strike for both skarn and porphyry type intrusion mineralisation at depth in a region of very limited deeper drill coverage (one hole) situated across a magnetic low, the eastern shoulder of a moderate magnetic zone and along strike from the existing mineralised corridor at the Trundle Park prospect.
While nearer surface intrusions are observed to occur from surface and continuing westwards, they comprise: (a) micro-diorite (0-31.7m), similar to those also identified in TRDD028, and (b) equi-granular hornblende diorite (31.7-302m) which also includes some shorter intervals with monzodiorite vein dykes (150-275m).
The most significant and positive development from TRDD029 was intersecting multiple blind and new broad higher-grade skarn zones. These zones exhibit good prograde skarn development, characterised by garnet-magnetite-pyrite, within three notable separate intervals: the Upper Skarn (732-772m); Middle Skarn (826.7-966m); and, Lower Skarn (981.3-1019m) zones.
Importantly, each of these three zones had visible disseminate chalcopyrite associated with the prograde skarn intervals, often with magnetite and pyrite. Good examples of bladed magnetite were also observed in the prograde skarn assemblages.
There is also a second stage of copper development noticed with bleb-like chalcopyrite occurring in a retro-grade skarn stage with carbonate (both iron-carbonate and calcite) along with orthoclase (orange K-feldspar) and hematite (specular and bladed).
The retrograde skarn stages tend to fill in voids (i.e., as matrix fill between breccias) and also along crosscutting veins throughout the earlier prograde skarn stages. The Middle Skarn zone is interpreted to host the more elevated levels of this second stage of copper development relative to the Upper Skarn.
Furthermore, there are examples in hole TRDD029 where chalcopyrite can be observed in both the prograde and retrograde skarn stages, providing at least two identified pulses of fluids with copper bearing sulphides within the skarn.
Above the skarns and below the aforementioned intrusions, porphyritic andesite lava flows were noted with increasing silicification along with epidote-chlorite-hematite alteration at depth, in-turn cut by later carbonate quartz veins and/or as matrix fill along fractures with chalcopyrite.
Significant assay results so far received for the Upper Skarn zone are included in Table 1 with the core of the Middle, Lower Skarn zones and balance of the hole delivered to ALS Orange, with results expected in approximately 5 weeks (impacted by current congestion at the laboratory).
The last reported quarters' production from Cadia (from Cadia East) mined a head grade of 0.82 g/t gold and 0.35% copper (1.41 g/t AuEq1) with an all in sustaining cost margin of $1,519/oz. This illustrates the favorable economic potential of bulk mining operations in the Macquarie Arc at not dissimilar depths to these mineralised zones in TRDD029.
Macquarie Arc skarn deposits
Hole TRDD029 has returned very encouraging assay and visual results in newly discovered magnetite skarn zones typical of Macquarie Arc porphyry systems.
Skarn deposits may be formed peripheral to, and mineralising fluids sourced from, porphyry systems and be represented by strongly altered carbonate and/or volcanic hosts. Skarns deposits can support significant mining operations in their own right but more often associated also with a causative porphyry intrusion and deposit(s). While no skarn deposits are currently being mined in the Macquarie Arc, historically Big and Little Cadia, two deposits within the Cadia mineral field, were mined very profitably for copper, gold and magnetite, with other smaller similar occurrences having been exploited in the region (including at Kincora's Trundle project).
The Northparkes mine is currently permitting the E44 gold-copper skarn deposit to be trucked approximately 20km as a first potential satellite operation to its existing porphyry deposits and mill. The E44 deposit is situated south and on the western margin of Northparkes eastern section of the Northparkes Caldera, and potentially in close proximity at the time of mineral deposition to Kincora's Trundle Park prospect before the subsequent rifting of the Junee-Narromine belt and Northparkes Caldera.
From further examples of and ratios between skarn and causative porphyry deposits is included in an updated corporate presentation available at www.kincoracopper.com
Drill hole TRDD030
Follow up hole TRDD030 has commenced as a scissor hole testing the up and down dip extent of the Upper skarn zone in TRDD029 and for a causative porphyry intrusion.
Despite recent rain, good drilling metres are being achieved and TRDD030 will provide coverage of the previously untested southern strike of the currently defined ∼1.3 km mineralised system at the Trundle Park prospect.
Assay results for the remainder of TRDD029, with further bedding and true width data from TRDD030 will assist the planning for further follow up targeting along with TRDD029, opening up a new significant search space along an identified magnetic and mineralised strike.
Drill hole TRDD028
Previously reported hole TRDD028 intersected nearer surface micro-monzonite and micro-syenite intrusions (as confirmed by petrology) within the first 400m of the hole, and also the presence of a deeper level broad zone of monzodiorite cut by monzonite dykes occurring below skarn. Assay results have returned multiple broad lower grade gold zones – see Table 2.
Table 1: Trundle Park target hole 29 - Significant broad mineralised intervals
(currently available)
Table 2: Trundle Park target hole 28 - Significant broad mineralised intervals
| Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.
Internal dilution is below cut off; and, * Dilutions related with Core loss |
Table 3: Trundle project - Collar Information
| For further details, including QAQC procedures, please refer to the following press releases: |
| 1. | July 6, 2020 - Kincora announces high-grade gold-copper results from first hole at Trundle |
| 2. | July 23, 2020 - Kincora reports further strong encouragement at Trundle |
| 3. | September 3, 2020 - Kincora provides update on expanded drilling program at Trundle |
| 4. | November 30, 2020 - Kincora intersects broad mineralised zones at Trundle |
| 5. | January 20, 2021 - Kincora intersects further shallow mineralization at Trundle |
| 6. | March 2021 - Independent Technical Report for the ASX prospectus |
| 7. | April 22, 2021 - Exploration Update |
| 8. | July 8, 2021 - Exploration portfolio drilling update |
| 9. | August 17 2021 - Significant gold-bearing intervals at Trundle Park |
| 10. | December 7 2021 - Porphyry system extended to surface and depth at Trundle Park |
| 11. | January 2022 - Multiple broad higher-grade intervals at Trundle Park |
Trundle Project background
The Trundle Project is located in the Junee-Narromine volcanic belt of the Macquarie Arc, less than 30km from the mill at the Northparkes mines in a brownfield setting within the westerly rift separated part of the Northparkes Igneous Complex ("NIC"). The NIC hosts a mineral endowment of approximately 24Moz AuEq (at 0.6% Cu and 0.2g/t Au) and is Australia's second largest porphyry mine comprising of 22 discoveries, 9 of which with positive economics.
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.
For further information on the Trundle and Northparkes Projects please refer to Kincora's website:
https://kincoracopper.com/the-trundle-project/
...........Bluetick