Kincora announces positive initial visual drill results at Trundle, NSW

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Algemeen advies 19/05/2020 15:30
•First Kincora hole at Trundle Park target has intersected multiple mineralized skarn zones ?Shallow 28 meter interval of visually interpreted moderate mineralization from 55 meters, including a higher grade 6.5 meter interval
?Previous nearby drill results include a higher grade interval of 2 meters at 20g/t gold, 6.97% copper and 81g/t sliver

•Hole confirms the targeted setting of skarn and adjacent porphyry intrusion, analogous to Cadia and multiple other world-class porphyries
•Prospectivity and scale of the target zone significantly expanded at Trundle Park, the first of three targets of the ongoing drilling program
•Trundle is the only brownfield project held by a listed junior in Australia’s foremost porphyry belt, being within the same mineralized complex as Australia’s second largest porphyry mine at Northparkes

Vancouver, BC - May 19th, 2020 - Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to advise that the first diamond drill hole at the Trundle Park target, at the Trundle project, has been completed at 685 meters depth. Hole TRDD001 has confirmed the targeted setting of an adjacent porphyry system to a near surface skarn, analogous to Cadia and multiple other world-class porphyries.

John Holliday, Chairman of Kincora’s Technical Committee, and Peter Leaman, Senior Vice-President of Exploration, commented:

“While early days in our ongoing drilling program, and awaiting assay results, multiple noteworthy positive developments have been achieved from the first hole at Trundle Park.

The zones of moderate to higher grade mineralised skarn intersected are thicker than expected, illustrating significant magmatic fluids associated with the adjacent porphyry intrusion system.

The mineral zonation in the well-developed and quite intense skarns supports, and may provide vectors to, a primary porphyry orebody target within the porphyry intrusion system.

The visual results of this hole confirm our exploration model and significantly increases both the scale and prospectivity of Trundle Park, with multiple large targets for follow up.”

Hole TRDD001 has intersected multiple skarn zones, including 28 meters of visually interpreted moderate mineralization from 55 meters, including a higher-grade 6.5 meter interval. Previous assay results at Trundle Park include a higher-grade interval of 2 meter at 20g/t gold, 6.97% copper and 81g/t sliver from 64 meters1.

An adjacent monzonite and monzodiorite intrusion has been intersected, with disseminated chalcopyrite and pyrite supportive of proximity to a potential higher grade porphyry system/core.

The skarn and porphyry intrusion system setting is analogous to Cadia where the Big and Little Cadia skarns have produced an estimated 140,000t of high-grade copper (5-7%) and greater than 1.5Mt iron ore2, and were important to the discovery of multiple adjacent deposits that make up the largest porphyry system in Australia.

The average depth of prior drilling at the Trundle Park target is only 28 metres, and a high priority follow up hole is planned post assay results for TRDD001.

In the interim, drilling has commenced at the Mordialloc target, approximately 12.5 km north of Trundle Park, where previous drilling has returned metal grades comparable to the peripheral parts of the Northparkes deposits, with improving grades down hole, open and coincident with an untested deeper geophysical target.

Figure 1: Highly mineralized and multiple skarn zones intersected at Trundle Park
Targeted geological setting of adjacent porphyry to near surface skarn confirm in first hole, analogous to Cadia and multiple Tier 1 porphyries

The Trundle project

The Trundle project is located 30km west of the China Molybdenum Company Limited (CMOC) operated Northparkes copper-gold project, in the same Northparkes Igneous Complex.

Past explorer drilling has been extensive with the completion of 2208 holes for 61,146 metres but deeper drilling into the basement utilising modern exploration knowledge has been very limited.

Over 92% of prior drilling has been to less than 50 metres depth with just 11 holes beyond 300 metres (0.5% of holes drilled). Existing significant drill intersections supports vectoring to very compelling targets for Kincora’s ongoing phase 1 drilling program at three existing mineralised systems – Trundle Park, Mordiallic and Bayleys. These systems have not been drilled since industry leading Induced Polarisation survey's, including HPX’s proprietary Typhoon system, and magnetic modelling were completed.

Figure 4: Trundle is the only brownfield porphyry project held by a listed junior in the Macquarie Arc, Australia’s foremost porphyry region
The Raggatt volcanics at Trundle are the stratigraphic equivalent to the Goonumbla volcanics that host the deposits at Northparkes
Aeromagnetics illustrate key regional structures and geological features with the Trundle project located on the interpreted western rift of the Northparkes Igneous Complex within the Junee-Narromine Ordovician volcanic belt of the Macquarie arc
Recent new license application from FMG Resources Pty Ltd for the adjacent southern ground

see (figures) &

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