Further confirmation of new discovery and broad intervals at Trundle Park
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Full assay results confirms hole TRDD029 as an important new geological discovery along the southern extension zone at Trundle Park:
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Cumulative gold and copper mineralisation across 196m returned in three skarn zones in TRDD029, including:
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Upper Skarn: 36m @ 0.68 g/t gold and 0.29% copper1
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Middle Skarn: 129m @ 0.17 gold and 0.12% copper, including:
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34m @ 0.38g/t gold and 0.30% copper
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Assay results for TRDD030, that intersected cumulative skarn of ~250m, along with quartz-carbonate-chalcopyrite vein sets in the Middle Skarn, expected in 3 weeks
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Most recent hole TRDD031 has intersected cumulative skarn of >100m, below potassic alteration within quartz veining comprising tourmaline-bornite-chalcopyrite in volcanics
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Tabular, bedded, mineralised skarn system across three zones confirmed over >240m strike (and open), with estimated true width of up to 120m
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Skarn mineralization and quartz sulphide veining in overlying volcanics from holes TRDD029, TRDD030 and TRDD031 provide important geological and mineral vectors for the targeted causative intrusive porphyry source
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Hole TRDD032 commenced following up these vectors which are coincident with a wider north-south mineralised corridor and magnetic low
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Air-core drilling program of 50 holes for 1,550 metres complete, testing the wider intrusive complex and extent of identified anomalous copper-gold mineralisation at open pit target depths to the north of Trundle Park
Further confirmation of new discovery and broad intervals at Trundle Park - full press release with accompanying figures and tables (CNW Group/Kincora Copper Limited)
MELBOURNE, Australia, March 15, 2022 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX:KCC) is very 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:
"Full assay results for TRDD029 confirm a new geological discovery in the southern extension zone at Trundle Park, with two encouraging broad intervals of higher gold and copper tenor in skarn beds typical of Macquarie Arc porphyry copper-gold systems.
Also, most recent hole TRDD031 has added to our understanding of this southern extension zone. We have now intersected a tabular, bedded, mineralised skarn system across a strike of over 240m with Upper, Middle and Lower skarns in three holes. Widths, alteration and visual mineralisation of these skarn zones are providing vectors for follow up drilling.
These results are very encouraging that we are lateral to and near the margin of the primary target, the ore discovery we are after, which is a higher-grade, large porphyry deposit.
As we await assay results for TRDD030 and 31 we continue to systematically explore out from this new southern extension discovery zone, which remains open in all directions. Hole TRDD032, a 150m step-out to the south-east is in progress."
Ahead of the upcoming 121 Mining Investments APAC online conference an updated corporate presentation, including further details on the Trundle project and recent drill results, is available at www.kincoracopper.com
Figure 1: Section and working interpretation of the Trundle Park southern extension zone
LHS: Cross section of a tabular, bedded mineralised skarn system confirmed across three zones over a >250m strike (and open in all directions) and quartz sulphide veining in holes TRDD029, TRDD030 and TRDD031 at Trundle Park. Hole TRDD032 in progress stepping out 150m to the SE following up coincident vectors.
RHS: Conceptual and illustrative setting of the Trundle Park southern extension zone relative to the Macquarie Arc porphyry model with a targeted causative intrusive porphyry source being at a lateral setting (similar to the Big Cadia skarn to Cadia Quarry).
Assay results for drill hole TRDD029 and visuals of TRDD031
Full assay results for hole TRDD029 confirm an important new geological discovery with the southern extension zone at the Trundle Park prospect. Gold and copper mineralisation was returned across a total of 196m covering three separate tabular skarn zones, including higher gold and copper tenure in the Upper and Middle Skarn zones. This is very encouraging and significant in the context of the Macquarie Arc. Assay results are included in Tables 1 and 2.
Table 1: Trundle Park target hole TRDD029 – Summary of skarn zone intervals
| 1 | Previously reported, January 24th, 2022, "Newly Discovered Higher-Grade Zones Expand the Large-Scale Gold-Copper System at Trundle Park" |
| | Full summary of significant mineralised intervals from TRDD029 available in Table 2 |
Most recent hole TRDD031 has intersected the three skarns zones; the Upper, Middle and Lower, as did TRDD029 and TRDD030, with a cumulative mineralised interval across these skarn zones of over 100m. The three holes to date in the southern extension zone have confirmed a tabular, bedded, multiple zone mineralised skarn system confirmed across over 240m strike with estimated true width of up to 120m (the Middle Skarn in TRDD030). The southern extension zone remains open in all directions.
Hole TRDD030 intersected cumulative skarns of over 250m, with quartz-carbonate-chalcopyrite vein sets in the Middle Skarn with assay results expected in 3 weeks.
Similar to previous holes TRDD029 and TRDD030, there is representation of copper sulphides associated with prograde skarn development in hole TRDD031. These are generally characterised by garnet-magnetite-pyrite-chalcopyrite, mainly within the Middle Skarn and also present to a lesser extent in the Upper Skarn zone (the latter which appears to have pinched out in hole TRDD031).
The width, alteration and visual mineralisation of the respective three skarn zones from hole TRDD029, TRDD030 and TRDD031 are providing insights to the interpreted fluid pathways from the primary source, and targeted causative porphyry intrusion.
While TRDD031 didn't intersect the anticipated quartz-carbonate-chalcopyrite vein sets that holes TRDD029 and TRDD030 did, it returned the first indications of tourmaline occurring along quartz veinlets along with blebs of bornite and/or chalcopyrite, and from a relatively shallow depth (first noted at 285m down hole). This zone was hosted in silica-magnetite altered pebbly volcanoclastic rocks, and is believed to explain the magnetic high anomaly the hole drilled tested.
At this stage, there are no intersected intrusions identified in TRDD031 to help explain these higher temperature minerals (tourmaline and bornite) and no deeper intrusions to explain the significant chalcopyrite and magnetite in the various skarn horizons. This setting of sulphide veining in upper volcanics supports the working interpretation of targeted causative intrusive source being on a lateral setting – see Figure 1 for the section and working interpretation of the Trundle Park southern extension zone.
The skarn zones and quartz sulphide veining in the overlying volcanics from holes TRDD029, TRDD030 and TRDD031 provide important geological and mineral vectors for the targeted causative intrusive porphyry source. The large mineralised skarns and vein systems are suggestive of significant primary source.
Hole TRDD032, a 150m step-out to the south-east, is in progress following up these vectors, which are coincident with the wider southern mineralised trend corridor and magnetic low.
Figure 2: Significant new mineralised zones and extension – the wider Trundle Park system covers a ∼1.3 km strike and open
| (a) | Plan view of Trundle Park prospect, multiple visually significant mineralised zones in holes TRDD029, TRDD030 and TRDD031 - see Figure 2 (b) & (c) for sections |
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| (b) | Only three holes in but clear scale potential emerging in southern trend extension discovery zone |
| | 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, lithology in TRDD029/30/31 and intrusions with significant mineralised |
| | intervals/holes - vectors to causative intrusive porphyry target |
| | Illustration TRDD032 target: Section line looking southeast through Figure 2 (a). Length ~1450m and width ~600m |
Figure 3: Examples of key mineralised zones and vectors from hole TRDD0313
| i. | Volcanoclastic (pebbly) rocks with silica-magnetite alteration (dark-grey) with patchy epidote alteration (lime green), from 282m. Lower photo: close up @ 285m showing a bleb of purple bornite associated with epidote-quartz after K-feldspar (red-orange). Assay results pending. |
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| ii. | Volcanoclastics (pebbly) with early silica-magnetite alteration over printed by patchy epidote (Ep, lime green) & K-feldspar (Kfs, orange-red) alteration from 327m. Lower photo: close up @ 330.6m with bleb of bornite (Bn, purple) associated with epidote (Ep)-quartz (Qt) after K-feldspar (Kfs, red-orange) & tourmaline (T, black). Assay results pending. |
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| iii. | Volcanoclastics (pebbly) with early silica-magnetite alteration over printed by patchy epidote (Ep, lime green) & K-feldspar (Kfs, orange-red) alteration. Lower photo: close up @ 334m with bleb of chalcopyrite (Cpy, yellow) associated with epidote (Ep)-quartz (Qz) after K-feldspar (Kfs, red-orange) & tourmaline (T, black). Assay results pending. |
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| iv. | Middle Skarn (prograde) with magnetite (Mag, >50%)- garnet (Gn, olive)-minor pyrite & disseminated chalcopyrite, cut by later carbonate-quartz veins-with chalcopyrite (Cpy) from 777.4m. Assay results pending. |
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| v. | Middle Skarn (medial) bands of alternating garnet (Gn, tan-brown), prehnite (light blue-green) & patchy magnetite (Mag, grey-black) cut by later retrograde quartz-carbonate-orthoclase-hematite veins & void fillings containing pyrite & chalcopyrite (Cpy) from 798m. Assay results pending. |
Air-core drilling completed
As previously announced1, a second rig had been mobilized to complete a shallow air-core drilling program to test priority areas of the wider intrusive complex to the north of Trundle Park at the Dunn's and Ravenswood South prospects, located 2km north and 5.5km north-west respectively.
A total of 50 holes for 1,550 metres with average depths of only 31 metres have been completed. The program has followed up previous broadly spaced copper-gold geochemistry anomalies.
All holes are interpreted to have inserted basement under shallow post-mineral cover (ranging from only 1.5 to 84 metres). The program has provided important new end of hole lithology and geological understanding, interpreted to be similar to the Trundle Park prospect, with prospective alteration, veining, magnetite and sulphides often noted in the chips and the end of hole samples of core.
Dispatch of samples for assay geochemistry is scheduled for this week with results expected in a further 8 weeks.
The program is expected to better understand the potential for nearer surface intrusions, skarn altered zones and the extent of identified anomalous copper-gold mineralisation at open pit target depths within these prospect areas, where previous drilling has been broadly spaced relative to the nature of the narrow but vertically extensive Macquarie Arc porphyry model and similar coverage at Northparkes or Cadia.
| 1 | February 22nd, 2022, "New higher-grade gold-copper system extension confirmed and expanded" |
121 Mining Investment APAC conference
Ahead of the upcoming 121 Mining Investment APAC online conference an updated corporate presentation, including further details on the Trundle project and recent drill results, is available at www.kincoracopper.com
Registration details for pre-booked, online 1-2-1 meetings with management at the upcoming conference are available at: www.weare121.com
Table 2: Trundle Park target hole TRDD029 – Summary of significant intervals
Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and/or 0.05% respectively. Internal dilution is below cut off; and, 1 Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively. Internal dilution is below cut off
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 25, 2022 - Newly discovered higher-grade zones expand the large-scale gold-copper system at Trundle Park |
| 12. | March 2022 - Further confirmation of new discovery and broad intervals at Trundle Park |
Table 4: Visual estimates and descriptions of Figure 1 core from TRDD031
In relation to the disclosure of selected intervals of drill core and visual mineralisation, the Company cautions that estimates of sulphide mineral abundance and lithology from preliminary geological logging should not be considered a proxy for quantitative analysis of laboratory assay results or detailed petrology. Assay results are required to determine the actual widths and grade of the visual mineralisation. Geological logging will be further calibrated with full assay, petrology results and further team review.
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/
This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763
..................Bluetick