Drilling at Trundle intersects shallow mineralisation

·32 min read
  • Kincora's first drill holes into three prospects at the Trundle project have intersected significant zones of mineralisation at shallow depths

  • Dunn's South prospect (hole TRDD036)

  • Botfield prospect (hole TRDD037)

  • Drilling is ongoing at the North-East Gold Zone prospect (hole TRDD038)

  • High priority follow up hole at the Botfield prospect is planned testing the up-dip coincident magnetic and Induced Polarisation (IP) chargeability high anomaly cores

  • Kincora notes two neighbouring explorers drilling at the western and southern extensions of the Trundle project

MELBOURNE, Australia, March 21, 2023 /CNW/ - Kincora Copper Limited (ASX: KCC) (TSXV: KCC) (Kincora or the Company) is pleased to provide an exploration update from the new phase of drilling at the brownfield Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB) in NSW, Australia.

Drilling at Trundle intersects shallow mineralisation (CNW Group/Kincora Copper Limited)
Drilling at Trundle intersects shallow mineralisation (CNW Group/Kincora Copper Limited)

The drilling is testing 5 shallow large-scale porphyry and porphyry-related skarn targets across the 3.2km strike of the mineralised magnetic complex at the southern portion of the Trundle license.

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, noted:

"Kincora's first three drill holes from the current drill program at Trundle have been very encouraging, with all having intersected zones of potential ore grade mineralisation at relatively shallow depths.

The Botfield massive, mineralised magnetite skarn intersection has indicated that the 0.75-1km long Botfield magnetic high anomaly is likely caused by a large magnetite skarn body.  This is interpreted to be part of a very large porphyry-related copper-gold system. The magnetic anomaly had not been tested effectively by historic drilling. The Botfield prospect will be followed up by a priority hole into the core of the magnetic anomaly 250m further to the east. 

We believe the Botfield skarn is the uplifted, nearer surface part of the extensive and well mineralised skarn system at our previously discovered Southern Extension Zone. Botfield hole TRDD037 intersected massive magnetite skarn from only 330 metres vertical depth compared to 710 metres vertical depth in TRDD032 located 430 metres to the west.

Additionally, intersecting porphyry style mineralisation at shallow depths with good grades at the Dunn's North and South prospects, located 640 metres apart, provides significant encouragement in a new area of exploration. Our understanding of these new prospects has been greatly improved with gold and porphyry A veins logged at Dunn's North and gold, copper and notably high molybdenum grades at Dunn's South. A review of these prospects, and adjacent open prospects, is ongoing."

Figure 1: Kincora's ongoing phase of drilling at the Trundle project is testing 5 adjacent system targets across a 3.2km mineralised and magnetic system complex (Dunn's North, Dunn's South, NE-Gold Zone, Botfield and the Southern Extension Zone (SEZ)). Neighbouring explorer drilling is testing the western and southern extensions of existing known mineralised systems and potential common targets.

Trundle drilling

Kincora's new phase of drilling at the Trundle project commenced in January 1, and is testing 5 adjacent systems and separate large-scale porphyry targets across an existing 3.2km mineralised strike – see Figure 1.

Assay results have been returned for Kincora's first holes at the Dunn's North and Dunn's South prospects, located 640m metres apart. These assays have confirmed significant zones of potentially ore grade porphyry mineralisation at shallow depths – see Tables 1 and 2. Petrology and fertility analysis is pending with a review commenced of these prospects, and adjacent open prospects, for follow up exploration.

While assay results are pending for the first hole drilled at the Botfield prospect, notable zones of visible mineralisation have been prioritized. These include a zone of coarse chalcopyrite-bornite-pyrite epithermal veins, as well as massive and banded magnetite pyrite-chalcopyrite skarn horizons.

A step out hole from previous shallow intrusive mineralisation at the North-East Gold Zone is in progress, with a priority follow up hole at the Botfield prospect then planned.

Botfield prospect

Kincora's first hole at the Botfield prospect, TRDD037, sought to test for the first time a large magnetic high complex coincident with shallow anomalous copper-gold and an IP chargeability high anomaly.

The concept Kincora sought to test was of a large untested skarn and/or porphyry complex, potentially associated with the emerging Southern Extension Zone (SEZ) discovery. This discovery was made by Kincora in the past 18 months to the west, and the southern extension of the multiple phase intrusive complexes intersected by Kincora and previous explorer drilling.

While assay results are pending, notable zones of visible mineralisation have been prioritized and include:

  • Coarse banded chalcopyrite-bornite-pyrite epithermal veins (from 128-132m)

  • Massive magnetite-pyrite-chalcopyrite skarn (>80% magnetite, from 376-407m)

  • Banded magnetite-pyroxene-feldspar skarn with pyrite and chalcopyrite (<30% magnetite from 407-425m)

Hole TRDD037 supports the current working interpretation that the Botfield prospect is located in an uplifted block, in the order of almost 500m, to the immediately adjacent SEZ prospect across an interpreted significant N-S fault zone – see Figures 1 and 2.

The relatively shallow chalcopyrite-bornite-pyrite epithermal veins are new to the project, and support vectors to a more proximal and prospective level in porphyry system - see Photo 1 (a).

Hole TRDD037 intersected over 30 metres of massive magnetite skarn from only 330 metres vertical depth (see Photo 1 (b)) compared to an interpreted equivalent horizon of 34 metres from 710 metres vertical depth in TRDD032, located 430 metres to the west, with similar stratigraphic horizons above and below these zones.

The geophysical inversions and targets for TRDD037 correlate well with visual logging and current interpretations of the returned diamond core, benefiting from the relatively shallow depths and width of the massive magnetic zone and associated sulphides.

The Botfield prospect has been prioritised for follow up. Planned hole TRDD039 will step out a further 250 metres to the east testing the up-dip coincident magnetic and induced polarisation (IP) chargeability anomaly cores, and at potentially open-pitable depths.

Assay results from completed hole TRDD037, and planned TRDD039, will assist in determining the next phases of drilling at the Botfield and SEZ prospects.

As announced in December 20222, Kincora has been awarded a drilling grant from the latest New Frontiers Exploration program by the New South Wales State Government to follow up the intersected 34m @ 1.45 g/t gold and 0.25% copper in skarn, including an interpreted porphyry vein that drove 2m at 19.9 g/t gold and 2.43% copper (hole TRDD032) within the SEZ 3.

Photo 1: Examples of key high grade mineralised zones from hole TRDD037
Assay results pending
(a) Strong hematite-chlorite alteration overprinted by quartz-sericite-carbonate veins hosting coarse chalcopyrite-bornite-pyrite @ 128.6-131.5m.
Core box-47 photo @ 128.20-131.46m with insert photo @ 131.4m.

(b) Massive magnetite skarn (>80% magnetite) with minor patches of garnet (brown) and pyroxene (tan-green) @ 376.3-406.8m. Disseminated pyrite -/+ disseminated/blebs of chalcopyrite. Minor patches of retrograde calcite and orthoclase fill voids and fractures.
Core box-122 photo @ 375.74-379.09m with insert photo @ 377.3m.

Figure 2: The Botfield prospect is interpreted to be an uplifted block to the adjacent Southern Extension Zone (SEZ) discovery
Large magnetic complex coincident with shallow copper-gold and chargeability anomaly is indicative of a large untested skarn &/or porphyry complex

Dunn's North prospect

Kincora's first hole at the Dunn's North prospect, TRDD035, sought to test for the first time the down dip potential of previous shallow air-core drilling that had failed to test an IP chargeable high anomaly co-incident with the shoulder of a significant NE-SW trending magnetic anomaly.

Hole TRDD035 confirmed a near surface intrusive complex, intersected early porphyry style quartz veins (A-type) cutting both diorite(s) and wall-rock volcaniclastic sediments proximal to intrusive bodies intersected towards the top of the hole, and, the presence of early quartz-chalcopyrite and quartz-magnetite-chalcopyrite veins at depth.

Encouraging previous gold grades in previous hole PPT08, including 10m at 1.99 g/t gold and 0.12% Cu from 36m, were repeated including 12.5m @ 2.77g/t gold from 77.5m, including 2m @ 14.2g/t gold, within a near surface gold mineralised diorite-monzodiorite intrusive complex (i.e., from 0m - 136m downhole).

Sulphides returned in the intrusive complex, coupled with the subsequently intersected magnetic andesite volcaniclastic sandstone sequence with interbedded lava follows, towards the west, are interpreted to have explained the respective IP and magnetic anomalies.

Table 1: Dunn's North target - hole TRDD035
Significant interval summary tables

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. Internal dilution is below cut off.

AuEq: $1800/oz Au, 3.55/lb Cu & 42,000/t Mo (100% recoveries).

Abbreviations: ab = albite, act = actinolite, alt = alteration, cal-calcite, ch = chlorite, cp = chalcopyrite, ep = epidote, hm = hematite, mt = magnetite, qtz = quartz, py = pyrite

Dunn's South prospect

Kincora's first hole at the Dunn's South prospect, TRDD036, sought to test for the first time a significant magnetic anomaly, follow up previous broad lower grade mineralisation from surface and test the up-dip potential a previously intersected felsic intrusions with quartz-carbonate-pyrite veins with chalcopyrite and bornite.

Hole TRDD036 also confirmed a near surface intrusive complex, intersecting sulphide bearing quartz veins with encouraging gold and copper grades within the intrusions (eg 44.39m @ 0.36g/t gold, 0.19% copper and 41ppm molybdenum from only 52.5m), and zones with high molybdenum grades (up to 721ppm) associated with intrusions suggesting a proximal setting to a magmatic source.

Highly magnetic hornfels volcanic sandstones intersected subsequent to the intrusive complex towards the west is interpreted to explain the magnetic anomaly.

The Dunn's North and South prospects are located 640m apart with encouraging but relatively limited deeper drill hole coverage and are with mineralisation starting from or near surface. Intersecting porphyry style and potential ore grade mineralisation at shallow depths in holes TRDD035 and TRDD036, associated with multiple intrusive phases provides encouragement. Fertility and petrology analysis is ongoing, with a review commenced considering the potential of further drilling towards the east and along strike towards the north and south (open target areas).

Table 2: Dunn's South target - hole TRDD036
Significant interval summary tables

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. Internal dilution is below cut off.

AuEq: $1800/oz Au, 3.55/lb Cu & 42,000/t Mo (100% recoveries).

Abbreviations: ab = albite, alt = alteration, ch = chlorite, cp = chalcopyrite, hm = hematite, qtz = quartz

Neighbouring explorer drilling

Kincora estimates the Trundle project holds a quarter of the Northparkes Igneous Complex, which to the east hosts Australia's second largest porphyry mine Northparkes – owned by China Molybdenum Co., Ltd (CMOC) (80%) and the Sumitomo Group (20%) – and a 24Moz gold equivalent endowment 4.

Kincora notes two neighbouring explorers currently drilling at the western and southern extensions of the Trundle project.

Satellite images show a drill rig on FMG's license immediately adjacent to the south, testing the potential southern extension and associated magnetic anomalies of the 3.2km mineralised and magnetic corridor Kincora is currently drill testing at the Dunn's-NE Gold Zone-Botfield prospects.

The same images illustrate two rigs on Rimfire Pacific Mining neighbouring licenses, one drilling its Valley target adjacent to the northern section of the Trundle project, testing the western undercover extension of Kincora's Mordialloc target.


1 January 19th, 2023 press release: "Kincora commences new phase of drilling at the brownfield Trundle project"
2 December 23rd, 2022 press release: "Kincora awarded drilling grant for brownfield Trundle project"
3 August 18th, 2022 press release: "Positive assay results for Trundle and Fairholme projects"
4 For further details and references please refer to Kincora's website: https://kincoracopper.com/northparkes-project/


Table 4: Trundle project – Diamond hole collar information of current drill program 

For diamond and air-core drilling collar information of previous Kincora holes please refer to the July 17, 2022 press release: "Highest grade assays to date from Trundle's Southern Extension Zone discovery"

Kincora Copper Limited – NSW drilling program

Following extensive technical reviews, the Company's ongoing drilling program in NSW will seek to drill test 13 new copper-gold discovery opportunities across 5 projects.

In January 2023, drilling commenced at the flagship and brownfield Trundle project seeking to test 5 adjacent system and separate large-scale porphyry targets across an existing 3.2km mineralised strike and magnetic complex at the southern portion of the Trundle license.

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 intrusive porphyry 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)

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.

Drilling, Assaying, Logging and QA/QC Procedures

Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors, using the Company's protocols as per industry best practise.
All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal checks by ALS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all assayed samples.
Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists. All drill core was logged to best industry standard by well-trained geologists and Kincora's drill core sampling protocol consisted a collection of samples over all of the logged core.
Sample interval selection was based on geological controls or mineralization or metre intervals, and/or guidance from the Technical Committee provided subsequent to daily drill and logging reports. Sample intervals are cut by the Company and delivered by the Company direct to ALS.
All reported assay results are performed by ALS and widths reported are drill core lengths. 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 at this stage.

Significant mineralised intervals for drilling at the Trundle project are reported based upon two different cut off grade criteria:

  • Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively; and,

  • Porphyry intrusion system gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.

Significant mineralised intervals are reported with dilution on the basis of:

  • Internal dilution is below the aforementioned respective cut off's; and,

  • Dilutions related with core loss as flagged by a "*".

The following assay techniques have been adopted for drilling at the Trundle project:

  • Gold: Au-AA24 (Fire assay), reported, unless above detection limit where the interval is re-assayed using fire assay method with atomic-absorption finish (Au-AA26 method of ALS). The technique allows accurately determine the gold grade above 0.01 g/t and suitable for high – grade samples where grade exceeds 10 g/t.

  • Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes TRDD002-TRDD022.

  • Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported.

  • Assay results >10g/t gold and/or 1% copper are re-assayed.

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 Trundle, Fairholme and Nyngan projects have 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.

Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).


JORC Code explanation


Sampling techniques

  • Nature and quality of sampling (e.g.
    cut channels, random chips, or
    specific specialised industry standard
    measurement tools appropriate to the
    minerals under investigation, such as
    down hole gamma sondes, or
    handheld XRF instruments, etc.).
    These examples should not be taken as
    limiting the broad meaning of sampling.

  • Include reference to measures taken
    to ensure sample representivity and
    the appropriate calibration of any
    measurement tools or systems used.

  • Aspects of the determination of
    mineralisation that are Material to
    the Public Report.

  • In cases where 'industry standard'
    work has been done this would be
    relatively simple (e.g. 'reverse
    circulation drilling was used to obtain
    1 m samples from which 3 kg was
    pulverised to produce a 30 g charge
    for fire assay'). In other cases more
    explanation may be required, such as
    where there is coarse gold that has
    inherent sampling problems. Unusual
    commodities or mineralisation types
    (eg submarine nodules) may warrant
    disclosure of detailed information

  • Kincora Copper Limited is the operator of the
    Trundle Project, with drilling using diamond coring
    and Air coring methods by DrillIt Consulting Pty
    Ltd, from which sub-samples were taken over 2 m
    intervals and pulverised to produce suitable
    aliquots for fire assay and ICP-MS.

  • Diamond drilling was used to obtain orientated
    samples from the ground, which was then
    structurally, geotechnically and geologically logged.

  • Sample interval selection was based on geological
    controls and mineralization.

  • Sampling was completed to industry standards with
    1⁄4 core for PQ and HQ diameter diamond core and
    1⁄2 core for NQ diameter diamond core sent to
    the lab for each sample interval.

  • Samples were assayed via the following methods:

- Gold: Au-AA24 (Fire assay) unless above
detection limit where the interval is re-assayed
using fire assay method with atomic-absorption
finish (Au-AA26 method of ALS). The technique
allows to accurately determine the gold grade above
0.01 g/t and suitable for high – grade samples
where grade exceeds 10 g/t.

- Multiple elements: ME-ICP61 (4 acid digestion
with ICP-AES analysis for 33 elements) and
ME-MS61 (4 acid digestion with ICP-AES &
ICP-MS analysis for 48 elements)

- Copper oxides and selected intervals with native
copper: ME-ICP44 (Aqua regia digestion with
ICP-AES analysis) has been assayed, but not reported

- Assay results >10g/t gold and/or 1% copper are

  • Historic sampling on other projects included soils,
    rock chips and drilling (aircore, RAB, RC and
    diamond core).

Drilling techniques

  • Drill type (e.g. core, reverse
    circulation, open-hole hammer,
    rotary air blast, auger, Bangka,
    sonic, etc) and details (e.g. core
    diameter, triple or standard tube,
    depth of diamond tails, face-sampling
    bit or other type, whether core is
    oriented and if so, by what method,

  • Drilling by Kincora at Trundle used diamond core
    drilling with PQ, HQ and NQ diameter core
    depending on drilling depth and some shallow
    depth Air core drilling.

  • All Kincora core was oriented using a Reflex ACE
    electronic tool.

  • Historic drilling on Kincora projects used a variety
    of methods including aircore, rotary air blast,
    reverse circulation, and diamond core. Methods
    are clearly stated in the body of the previous reports
    with any historic exploration results.

Drill sample recovery

  • Method of recording and assessing
    core and chip sample recoveries
    and results assessed.

  • Measures taken to maximise sample
    recovery and ensure representative
    nature of the samples.

  • Whether a relationship exists between
    sample recovery and grade and
    whether sample bias may have
    occurred due to preferential loss/gain
    of fine/coarse material.

  • Drill Core recovery was logged.

  • Diamond drill core recoveries are contained in
    the body of the announcement.

  • Core recoveries were recorded by measuring the
    total length of recovered core expressed as a
    proportion of the drilled run length.

  • Core recoveries for most of Kincora's drilling were
    in average over 97.1%, with two holes averaging

  • Poor recovery zones are generally associated with
    later fault zones and the upper oxidised parts of
    drill holes.

  • There is no relationship between core recoveries
    and grades.


  • Whether core and chip samples have
    been geologically and geotechnically
    logged to a level of detail to support
    appropriate Mineral Resource
    estimation, mining studies and
    metallurgical studies.

  • Whether logging is qualitative or
    quantitative in nature. Core (or
    costean, channel, etc.) photography.

  • The total length and percentage of the
    relevant intersections logged.

  • All Kincora holes are geologically logged for their
    entire length including lithology, alteration,
    mineralisation (sulphides and oxides), veining and

  • Logging is mostly qualitative in nature, with some
    visual estimation of mineral proportions that is
    semi-quantitative. Measurements are taken on
    structures where core is orientated.

  • All core and Air core chips are photographed.

  • Historic drilling was logged with logging mostly
    recorded on paper in reports lodged with the NSW
    Department of Mines.

sampling techniques
and sample preparation

  • If core, whether cut or sawn and
    whether quarter, half or all core

  • If non-core, whether riffled, tube
    sampled, rotary split, etc. and
    whether sampled wet or dry.

  • For all sample types, the nature,
    quality and appropriateness of the
    sample preparation technique.

  • Quality control procedures adopted
    for all sub-sampling stages to
    maximise representivity of samples.

  • Measures taken to ensure that the
    sampling is representative of the in
    situ material collected, including for
    instance results for field
    duplicate/second-half sampling.

  • Whether sample sizes are appropriate
    to the grain size of the material being

  • Once all geological information was extracted
    from the drill core, the sample intervals were cut with an
    Almonte automatic core saw, bagged and delivered
    to the laboratory.

  • This is an appropriate sampling technique for this
    style of mineralization and is the industry standard
    for sampling of diamond drill core.

  • PQ and HQ sub-samples were quarter core and NQ
    half core.

  • Sample sizes are considered appropriate for the
    disseminated, generally fine-grained nature of
    mineralisation being sampled.

  • Duplicate sampling on some native copper bearing
    intervals in TRDD001 was undertaken to determine
    if quarter core samples were representative, with
    results indicating that sampling precision was

  • Follow up high grade gold assay results received for
    a 2 meter interval in TRDD032, with re-assays for
    three samples where undertaken from reject
    samples (the coarse part of samples) seeking to
    confirm the original high grade interval (12.6g/t
    gold) and also to test if quarter core samples
    were representative. Duplicated values for the two
    adjacent samples were in-line with both gold
    (via Au-AA26 and Au-AA26D, duplicate,
    techniques) and base metals higher than the original
    results for the high-grade sample.

  • No other duplicate samples were taken.

Quality of
assay data

  • The nature, quality and
    appropriateness of the assaying
    and laboratory procedures used and
    whether the technique is considered
    partial or total.

  • For geophysical tools, spectrometers,
    handheld XRF instruments, etc, the
    parameters used in determining the
    analysis including instrument make
    and model, reading times,
    calibrations factors applied and their
    derivation, etc.

  • Nature of quality control procedures
    adopted (e.g. standards, blanks,
    duplicates, external laboratory
    checks) and whether acceptable levels
    of accuracy (ie lack of bias) and
    precision have been established.

  • Gold was determined by fire assay and a suite of
    other elements including Cu and Mo by 4-acid
    digest with ICP-AES finish at ALS laboratories in
    Orange and Brisbane. Over-grade Cu (>1%) was
    diluted and re-assayed by AAS.

  • Techniques are considered total for all elements.
    Native copper mineralisation in TRDD001 was
    re-assayed to check for any effects of incomplete
    digestion and no issues were found.

  • For holes up to TRDD007 every 20th sample was
    either a commercially supplied pulp standard or
    pulp blank. After TRDD007 coarse blanks were utilised.

  • Results for blanks and standards are checked upon
    receipt of assay certificates. All standards have
    reported within certified limits of accuracy and

  • Historic assays on other projects were mostly gold
    by fire assay and other elements by ICP. 

Verification of sampling
and assaying

  • The verification of significant
    intersections by either independent or
    alternative company personnel.

  • The use of twinned holes.

  • Documentation of primary data, data
    entry procedures, data verification,
    data storage (physical and electronic)

  • Discuss any adjustment to assay data.

  • Significant intercepts were calculated by Kincora's
    geological staff.

  • No twinned holes have been completed.

  • The intercepts have not been verified by
    independent personal.

  • Logging data is captured digitally on electronic
    logging tablets and sampling data is captured on
    paper logs and transcribed to an electronic format
    into a relational database maintained at Kincora's
    Mongolian office. Transcribed data is verified by the
    logging geologist.

  • Assay data is received from the laboratory in
    electronic format and uploaded to the master

  • No adjustments to assay data have been made.

  • Outstanding assays are outlined in the body of the

Location of
data points

  • Accuracy and quality of surveys used
    to locate drill holes (collar and down-
    hole surveys), trenches, mine
    workings and other locations used in
    Mineral Resource estimation.

  • Specification of the grid system used.

  • Quality and adequacy of topographic

  • Collar positions are set up using a hand-held GPS
    and later picked up with a DGPS to less than 10cm
    horizontal and vertical accuracy.

  • Drillholes are surveyed downhole every 30m using
    an electronic multi-shot magnetic instrument.

  • Due to the presence of magnetite in some alteration
    zones, azimuth readings are occasionally unreliable
    and magnetic intensity data from the survey tool is
    used to identify these readings and flag them as
    such in the database.

  • Grid system used is the Map Grid of Australia Zone
    55, GDA 94 datum.

  • Topography in the area of Trundle is near-flat and
    drill collar elevations provide adequate control

Data spacing and

  • Data spacing for reporting of
    Exploration Results.

  • Whether the data spacing and
    distribution is sufficient to establish
    the degree of geological and grade
    continuity appropriate for the
    Mineral Resource and Ore Reserve
    estimation procedure(s) and
    classifications applied.

  • Whether sample compositing
    has been applied.

  • Kincora drilling at Trundle is at an early stage, with
    drill holes stepping out from previous
    mineralisation intercepts at various distances.

  • Data spacing at this stage is insufficient to establish
    the continuity required for a Mineral Resource estimate.

  • No sample compositing was applied to Kincora drilling. 

  • Historic drilling on Trundle and other projects was
    completed at various drill hole spacings and no
    other projects have spacing sufficient to establish a
    mineral resource.

of data in relation to geological structure

  • Whether the orientation of sampling
    achieves unbiased sampling of
    possible structures and the extent to
    which this is known, considering the
    deposit type.

  • If the relationship between the
    drilling orientation and the
    orientation of key mineralised
    structures is considered to have
    introduced a sampling bias, this should be
    assessed and reported if material.

  • The orientation of Kincora drilling at Trundle has
    changed as new information on the orientation of
    mineralisation and structures has become available.

  • The angled drill holes were directed as best possible
    across the known lithological and interpreted
    mineralised structures.

  • There does not appear to be a sampling bias
    introduced by hole orientation in that drilling not
    parallel to mineralised structures.

Sample security

  • The measures taken to ensure sample

  • Kincora staff or their contractors oversaw all stages
    of drill core sampling. Bagged samples were placed
    inside polyweave sacks that were zip-tied, stored in
    a locked container and then transported to the
    laboratory by Kincora field personnel.

Audits or reviews

  • The results of any audits or reviews of
    sampling techniques and data.


Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)


JORC Code explanation


and land

  • Type, reference name/number, location
    and ownership including agreements
    or material issues with third parties
    such as joint ventures, partnerships,
    overriding royalties, native title
    interests, historical sites, wilderness or
    national park and environmental

  • The security of the tenure held at the
    time of reporting along with any
    known impediments to obtaining a
    licence to operate in the area.

  • Kincora holds four exploration licences in NSW and
    rights to a further six exploration licences through an
    agreement with RareX Limited (RareX, formerly known
    as Clancy Exploration).

  • EL8222 (Trundle), EL6552 (Fairholme), EL6915
    (Fairholme Manna), EL8502 (Jemalong), EL6661
    (Cundumbul) and EL7748 (Condobolin) are in a JV
    with RareX where Kincora has a 65% interest in the
    respective 6 licenses and is the operator /sole funder of
    all further exploration until a positive scoping study or
    preliminary economic assessment ("PEA") on a project
    by project basis.   Upon completion of PEA, a joint venture
    will be formed with standard funding/dilution and right of
    first refusal on transfers.

  • EL8960 (Nevertire), EL8929 (Nyngan), EL9320 (Mulla)
    and EL9340 (Condobolin East) are wholly owned by Kincora.

  • All licences are in good standing and there are no known
    impediments to obtaining a licence to operate.

done by
other parties

  • Acknowledgment and appraisal of
    exploration by other parties.

  • All Kincora projects have had previous exploration
    work undertaken.
    The review and verification process for the information
    disclosed herein and of other parties for the Trundle 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. Further details
    of exploration efforts and data of other parties are providing
    in the March 1
    st, 2021, Independent Technical Report included
    in the
    ASX listing prospectus, which is available at:


  • Deposit type, geological setting and
    style of mineralisation.

  • All projects ex EL7748 (Condobolin) and EL9340
    (Condobolin East) are within the Macquarie Arc,
    part of the Lachlan Orogen.

  • Rocks comprise successions of volcano-sedimentary
    rocks of Ordovician age intruded by suites of
    subduction arc-related intermediate to felsic
    intrusions of late Ordovician to early Silurian age.

  • Kincora is exploring for porphyry-style copper and
    gold mineralisation, copper-gold skarn plus related
    high sulphidation and epithermal gold systems.

Drill hole Information

  • A summary of all information material
    to the understanding of the exploration
    results including a tabulation of the
    following information for all Material
    drill holes:

  • easting and northing of the drill hole

  • elevation or RL (Reduced Level –
    elevation above sea level in metres) of
    the drill hole collar

  • dip and azimuth of the hole

  • down hole length and interception

  • hole length.

  • If the exclusion of this information is
    justified on the basis that the
    information is
    not Material and this exclusion does
    not detract from the understanding of
    the report, the Competent Person
    should clearly explain why this is the case.


  • Detailed information on Kincora's drilling at
    Trundle is given in the body of the report.

aggregation methods

  • In reporting Exploration Results, weighting
    averaging techniques, maximum and/or
    minimum grade truncations (e.g. cutting of
    high grades) and cut-off grades are
    usually Material and should be stated.

  • Where aggregate intercepts incorporate
    short lengths of high grade results and
    longer lengths of low grade results, the
    procedure used for such aggregation
    should be stated and some typical
    examples of such aggregations
    should be shown in detail.

  • The assumptions used for any reporting
    of metal equivalent values should be clearly stated.

  • For Kincora drilling at Trundle the following methods
    were used:

  • Interpreted near-surface skarn gold-copper intercepts
    were aggregated using a cut-off grade of 0.20 g/t Au
    and 0.10% Cu respectively.

  • Porphyry gold-copper intercepts were aggregated
    using a cut-off grade of 0.10 g/t Au and 0.05% Cu

  • Internal dilution below cut off included was
    generally less than 25% of the total reported
    intersection length and is noted in the summary
    tables of significant mineralised intervals of the respective holes.

  • Core loss was included as dilution at zero values.

  • Average gold and copper grades calculated as
    averages weighted to sample lengths.

  • Historic drilling results in other project areas are
    reported at different cut-off grades depending
    on the nature of mineralisation.

Relationship between mineralisation widths

  • These relationships are particularly
    important in the reporting of Exploration

  • If the geometry of the mineralisation with
    respect to the drill hole angle is known, its
    nature should be reported.

  • If it is not known and only the down hole
    lengths are reported, there should be a
    clear statement to this effect (eg 'down
    hole length, true width not known').

  • Due to the uncertainty of mineralisation orientation,
    the true width of mineralisation is not known at Trundle.

  • Intercepts from historic drilling reported at other
    projects are also of unknown true width.


  • Appropriate maps and sections (with scales)
    and tabulations of intercepts should be
    included for any significant discovery
    being reported These should include, but
    not be limited to a plan view of drill hole
    collar locations and appropriate sectional views.

  • Relevant diagrams and figures are included in the body
    of the report, including the current working models and


  • Where comprehensive reporting of all
    Exploration Results is not practicable,
    representative reporting of both low and
    high grades and/or widths should be
    practiced to avoid misleading reporting
    of Exploration Results.

  • Intercepts reported for Kincora's drilling at Trundle are zones
    of higher grade within non-mineralised or weakly anomalous

substantive exploration

  • Other exploration data, if meaningful and
    material, should be reported including
    (but not limited to): geological observations;
    geophysical survey results; geochemical
    survey results; bulk samples – size and
    method of treatment; metallurgical
    test results; bulk density, groundwater,
    geotechnical and rock characteristics;
    potential deleterious or contaminating substances.

  • No other exploration data is considered material to the reporting
    of results at Trundle. Other data of interest to further exploration
    targeting is included in the body of the report.

  • Historic exploration data coverage and results are included in
    the body of the report for Kincora's other projects.


  • The nature and scale of planned further
    work (e.g. tests for lateral extensions or
    depth extensions or large-scale step-out drilling).

  • Diagrams clearly highlighting the areas
    of possible extensions, including the main
    geological interpretations and future drilling
    areas, provided this information is not commercially sensitive.

  • Recent drilling has concluded at the Mordialloc, Mordialloc and
    Trundle Park targets at the time of publication of this report
    and plans for further step-out drilling are in place at the
    Trundle Park, Mordialloc and Botfield prospects.

  • Reviews are ongoing and concluding for the newly identified
    North-East Gold Zone and recent Southern Extension (skarn)
    Zone discovery at the Trundle Park prospect.
    Further drilling and second phase programs are proposed at
    other Trundle project areas, including air core programs at the
    Mordialloc, Dunn's North and Ravenswood South prospects, that
    have complementary but insufficiently tested geochemistry and
    geophysical targets with the aim to find: (a) and expand near
    surface copper-gold
    skarn mineralization overlying or adjacent
    to (
    b) underlying copper-gold porphyry systems. Permitting,
    planning and drill rig/team scheduling is ongoing, and is subject
    to improved ground conditions.


SOURCE Kincora Copper Limited


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