Kincora Copper Advances Porphyry Exploration in Northern Australia
News related to:Kincora Copper Limited · 3 min read
Kincora Copper Limited, a copper-gold explorer and hybrid prospect generator based in Melbourne, Australia, has provided an update on its ongoing drilling activities at the Nevertire South and Nyngan licences, part of the larger Northern Junee-Narromine Belt (NJNB) project, within the covered northern extensions of the Macquarie Arc. The licences are included within two earn-in and joint venture agreements with AngloGold Ashanti Australia Limited (AngloGold Ashanti).
The company has upgraded two large composite volcanic-intrusive complexes within the wider Nevertire Magmatic Complex (NMC) for continued step out, infill, and down dip drilling. These complexes are suggestive of proximity to porphyry system centres, with copper and gold grades indicating the potential for a large porphyry system. The results of highly anomalous copper associated with porphyry veining in hole NEDD011 are particularly noteworthy and could be the discovery indicators of a large porphyry system centred laterally or deeper.
The company has also resumed scout drilling at the Nyngan licence, with five to eight planned holes across two targets (the Ace of Spades and Gerar targets). AngloGold Ashanti has the right to invest up to A$100 million across a total of five adjacent licences within Kincora's NJNB portfolio, covering a continuous strike greater than 100km. Kincora currently manages the programs and receives a 10% management fee on expenditures.
The company has also conducted a gravity survey covering approximately 110 square kilometers, with a further survey scheduled for late September to expand the infill coverage to the north-west and into the Nevertire licence. Four scout holes have since been completed across a 15-kilometer strike, with the closest being over 20 kilometers from the nearest drill hole of Newcrest Mining's. These activities have resulted in a material increase in the prospective search space across the Nevertire and Nevertire South licences, supporting a total prospective strike of more than 40 kilometers, representing a greater than 5x increase relative to the drill strike extent across the wider NMC, which hosts two target systems.
Kincora is working with AngloGold Ashanti to plan a systematic exploration approach for the 2027 field season to advance this new potentially province-scale opportunity at Nevertire. This work includes the acquisition of ground gravity data to assist in defining potential intrusions within the volcanic host rocks, and defining and ranking distinct packages and domains with appropriate programs to advance this large-scale pipeline.
In addition, the company has resumed scout drilling at the Nyngan project. To date, 24 holes for 10,379.7 meters have been utilised, with all holes intersecting the basement and interpreted to have intersected Macquarie Arc rocks. The drill results have been very encouraging, providing strong vectors, upgrading the immediate target zone, supporting Newcrest's previous interpretation, and reaffirming the company's view that the NMC is the most geologically prospective porphyry project in the northern covered extensions of the Macquarie Arc, offering multiple discovery potential.
Kincora Copper Limited is a copper-gold explorer and hybrid prospect generator based in Melbourne, Australia. The company has two earn-in and joint ventures with AngloGold Ashanti covering a continuous strike of greater than 100 kilometers, including five licences (Nevertire, Nevertire South, Nyngan, Nyngan South and Mulla licences), within the covered northern extensions of the Macquarie Arc. The company has a portfolio of seven projects in NSW, including managing two earn-in programs with AngloGold Ashanti, receiving a 10% management fee on expenditures, and covering a continuous 100km strike across 5 adjacent licences.
The company has conducted a gravity survey covering approximately 110 square kilometers, with a further survey scheduled for late September to expand the infill coverage to the north-west and into the Nevertire licence. Four scout holes have since been completed across a 15-kilometer strike, with the closest being over 20 kilometers from the nearest drill hole of Newcrest Mining's. These activities have resulted in a material increase in the prospective search space across the Nevertire and Nevertire South licences, supporting a total prospective strike of more than 40 kilometers, representing a greater than 5x increase relative to the drill strike extent across the wider NMC, which hosts two target systems.