Significant gold-bearing intervals at Trundle Park
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- Assay results for hole TRDD022 at the Trundle Park prospect return significant broad mineralized intervals, strongly indicating proximity to the core of a large porphyry intrusive system and providing vectors for recently commenced, follow-up drilling:
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- 162m @ 0.24 g/t gold and 0.04% copper from 670m, including:
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- 46m @ 0.54 g/t gold and 0.08% copper from 684m, and
- 18m @ 0.75 g/t gold and 0.09% copper from 712m
- Mineral tenor, particularly gold, and interpreted alteration akin to proximal setting to the gold rich, high grade copper Cadia-Ridgeway and the multiple intrusive deposits at the neighboring Northparkes mine;
- Results provide the greatest "proof of concept" support to date for Trundle Park to host a potential series of porphyry intrusive systems;
- Scissor hole following up TRDD022 commenced, targeting the interpreted core of the porphyry system.
MELBOURNE, Aug. 17, 2021 - Kincora Copper Ltd. (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is pleased to report further assay results from ongoing drilling 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:
"The wide interval of gold and alteration in TRDD022, and the extensive strike (over 500m) of near surface skarn mineralisation seen in earlier holes, are strong evidence of a large multiple intrusive porphyry gold-copper system at the Trundle Park prospect.
TRDD022 is highly encouraging in that we are potentially very close to our porphyry target. A follow up hole is drilling to the NNW of TRDD022 for the potential higher grade and interpreted core of the targeted system."
Detailed geological logging of TRDD022 has taken place and noted that the better mineralized zones exhibit interpreted fingers of monzonite intruding a main monzodiorite, in areas brecciated, with strongly developed and variable interpreted outer potassic alteration. This setting coupled with returned mineral tenor, particularly gold intervals, provides indicators of a proximal environment to the targeted core of an intrusive porphyry system. The multiple intrusive deposits at the neighbouring Northparkes mine and at Cadia-Ridgeway exhibit such a setting around a discrete mineralized footprints of only hundreds of metres width that are vertically extensive and occur in clusters or a series of deposits.
Two rigs remain operational, one currently drilling a scissor hole to TRDD022 at the Trundle Park prospect at Trundle, and the other has commenced a second hole at the Gateway prospect at the Fairholme project. Trundle and Fairholme are both advanced exploration stage projects with hallmarks of neighbouring deposits, Northparkes and Cowal respectively, host to a combined >20Moz gold and >5Mt copper1.
Figure 1: Kincora is currently drilling the Trundle and Fairholme projects
- Favourable locations of the key porphyry belts of the Macquarie Arc
- Demonstrate potential hallmarks of neighbouring world-class deposits
Figure 2: Trundle is the only brownfield porphyry project held by a listed junior in the Lachlan Fold Belt (LFB) located within Northparkes Ingenious Complex, which already hosts the 2nd largest porphyry mine in Australia (endowment 5.5Moz Au & 4.5Mt Cu1)
- Large geochemical footprints with a cluster of concealed intrusive deposits at Northparkes
1 Bespoke March 2020 report by Richard Schodde, MinEx Consulting, for Kincora |
Trundle Park prospect
Kincora's drilling at Trundle Park has focused on simultaneously testing both the near surface skarn mineralization and underlying causative porphyry source(s), advancing and confirming our working geological model beyond prior explorers' shallow drilling (average historic depths of only 28m).
Improved geological understanding has provided the confidence and vectors to drill to comparable depths to where the core of similar intrusive systems occur elsewhere in the wider and immediate region, at Cadia and Northparkes respectively. Hole TRDD022 was completed to 940m, the deepest hole at the Trundle Park prospect.
TRDD022 followed up several previous holes that returned potassic alteration with anomalous gold mineralisation, and which now opens up a large previously untested zone to the west and north.
Figure 3: TRDD022 provides the greatest "proof of concept" support to date for Trundle Park hosting a potential series of porphyry intrusive systems within the Trundle project
Working Leapfrog model (section LHS & plan view RHS): initial follow up hole to TRDD022, TRDD026 commenced testing an approximate 100m step out to the mineralised zone to the NNW
Assay results have been returned for TRDD022 with significant broad mineralized intervals including 162m @ 0.25 g/t gold, 0.04% copper and 9 ppm molybdenum (from 670m), comprising 46m @ 0.54 g/t gold and 0.08% copper (from 684m) and 18m @ 0.75 g/t gold and 0.09% copper (from 712m). See Table 1 for further interval details and also Figure 4 of these intervals in relation to the mineralized footprint around the Cadia-Ridgeway orebody.
Detailed geological logging has taken place and noted that the better mineralized zones exhibit generally centimeter scale interpreted fingers of monzonite vein-dyke and associated mineralization intruding the main monzodiorite intrusion. Magnetite stringer veins have also been noted to be associated with pyrite and epidote replacing mafic minerals in the monzonite vein-dykes. Chalcopyrite is present in stringer veinlets on its own and also occurs as blebs or stringer veinlets with pyrite or magnetite. See Figure 7 for examples of rock types in TRDD022.
Figure 4: Mineral tenor and interpreted alteration akin to a proximal setting to the gold rich, high grade-copper Cadia-Ridgeway and the multiple intrusive deposits at the neighbouring Northparkes mine
- Similar exploration approach, geological vectors and target as Cadia-Ridgeway
The encouraging mineralization and lithology in TRDD022 is coincident with intense red alteration, interpreted to be representing both hematite dusting but increasingly correlated with outer potassic (K-spar) alteration along the margins of the monzodiorite stock intruded by the monzonite fingers (petrology studies proposed).
Brecciated monzodiorite with monzonite fingers with strongly developed and variable interpreted outer potassic alteration, along with pyrite and chalcopyrite mineralization, coupled with returned mineral tenor provides encouragement for indicators of a proximal environment to the targeted core of an intrusive porphyry system. Such a setting is not dissimilar to Cadia-Ridgeway and the multiple intrusive deposits at the neighboring Northparkes mine. Macquarie Arc alkalic gold rich porphyry copper systems generally exhibit discrete mineralized footprints of only hundreds of metres width that are vertically extensive and occur in clusters or a series of deposits. See Figure 3 for the alteration and mineralization footprint around the core of the Cadia-Ridgeway deposit and relative to the currently known system at the Trundle Park prospect.
The immediate focus of drilling at Trundle Park is the recently commenced TRDD026, the initial diamond drill 'scissor' hole to follow up TRDD022, which is seeking to test the potential for higher grade copper-gold and the interpreted core of the system, approximately 100m NNW from the mineralization zone in TRDD022 (see Figure 3 and 4 for hole location).
Table 1: Trundle Park target hole TRDD022 - Significant broad mineralized 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 |
Figure 7: Examples of the rock types in hole TRDD022, Trundle Park prospect
(a) Monzonite finger (red-orange) intruding monzodiorite at 700m: 2m @ 0.42g/t gold, 0.12% copper and 3ppm molybdenum within a zone of 32m @ 0.58 g/t gold, 0.10% copper and 10ppm molybdenum from 698m
(b) Monzonite fingers (red-orange) intruding monzodiorite and silicified volcanoclastic rocks at 717.7m, in an interval with: 2m @ 0.64g/t gold, 0.09% copper and 7ppm molybdenum
(c) Monzonite dyke network (red-orange) cutting monzodiorite (grey) with pyrite, magnetite and chalcopyrite and interpreted potassic alteration along the contacts in a section at 720.5m: 2m @ 0.62g/t gold, 0.10% copper and 11ppm molybdenum and within a broader zone of 18m @ 0.75 g/t gold, 0.09% copper and 14ppm molybdenum from 712m
(d) LHS: Monzodiorite (grey) cut by monzonite (red-orange) in an interval with: 2m @ 0.91g/t gold, 0.12% copper & 19ppm molybdenum (from 714m); and, RHS: Monzodiorite (grey) cut by monzonite (red-orange) in an interval with 2m @ 0.47g/t gold, 0.06% copper & 17ppm molybdenum (from 718m).
(e) Disseminated chalcopyrite around pyrite at 728.8m: 2m @ 1.03g/t gold, 0.15% copper & 15ppm molybdenum
Photos of selected intervals which are not representative of the mineralization hosted on the whole property or Trundle Park prospect but are of the lithology's intersected in the mineralized zones in these sections of drill hole TRDD022. There is insufficient drilling data to date to demonstrate continuity of mineralized domains and determine the relationship between mineralization widths and intercept lengths, true widths are not known.
COVID-19 update
Kincora continues to closely monitor the development of the novel coronavirus (COVID-19) and the evolving circumstances, formal guidance and requirements of State and Federal health authorities in jurisdictions we operate in.
The Company's COVID-19 safety and management plan continues to be updated as needed to modify how our contractors and we conduct business, and implement best practise recommendations and policies.
Two rigs remain operational, one currently drilling a scissor hole to TRDD022 at the Trundle Park prospect at the Trundle project, and the other which has commenced a second hole at the Gateway prospect at the Fairholme project.
Corporate update video
Kincora's President and CEO, Sam Spring, recently spoke to the Assay TV to provide an update on exploration activities and strategy having commenced at the Fairholme project and provided a recent comprehensive exploration portfolio update.
This interview is available at: https://www.theassay.com/the-assay-tv/the-assay-tv-sam-spring-president-ceo-kincora-copper-tsxvkcc-asxkcc/
Trundle Project background
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.
This announcement has been authorised for release by the Board of Kincora Copper Ltd. (ARBN 645 457 763)
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 mineralized 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 |
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 Ltd., 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 mineralized 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.
- 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 Mr. 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.
Mr. 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.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Logging |
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Sub-sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Verification of sampling and assaying |
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Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample security |
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Audits or reviews |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status |
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Exploration done by other parties |
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Geology |
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Drill hole Information |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Balanced reporting |
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Other substantive exploration data |
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Further work |
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SOURCE Kincora Copper Ltd.
Contact
Sam Spring, President and Chief Executive Officer, sam.spring@kincoracopper.com or +61431 329 345; For media enquiries: Media & Capital Partners, Angela East at Angela.East@mcpartners.com.au