- Kincora’s team has had previous Tier 1 discovery success in the Macquarie Arc belt, Australia
- Strong and aligned shareholders, board and management
- Market capitalization of only C$5.4M with significant discount to Australian peers
What Kincora Copper does:
In recent months it has completed two transactions to boost its potentially district-scale landholding to 1,732 square kilometers (sq km) in the highly prospective Lachlan Fold Belt - a major Australian porphyry belt.
Lachlan Fold Belt hosts both Newcrest's Cadia-Ridgeway camp and China Molybdenum Group's Northparkes mine - both mining giants.
In November, Kincora was granted a new exploration licence covering 762 sq km, known as the Nyngan project, which covers a significant portion of the northern sector of the Junee-Narromine volcanic belt and Alkane Resources Ltd's (ASX:ALK) recent discoveries.
These include Alkane's Bodo prospect, with a drill hole returning an intersection of 502 metres at 0.48 grams per ton (g/t) gold and 0.2% copper with 12 metres at 3.28 g/t gold and 0.67% copper.
Earlier this year, Kincora closed its earlier announced deal with RareX Ltd concerning copper-gold assets in New South Wales, firing the starting pistol on it carrying out high impact drilling at a number of targets in Australia's foremost porphyry belt.
It gives Kincora the ability to acquire a 65% interest in six mineral leases in the Lachlan Ford Belt in exchange for A$25,000. The claims include advanced to early-stage exploration projects and porphyry targets.
The flagship is the Trundle project, the only brownfield porphyry project held by a listed junior in the belt, which lies less than 30km from the China Molybdenum Company (CMOC) operation.
Kincora has said drilling will start shortly at Trundle, which sits within the same system as Australia's second-largest porphyry mine at Northparkes.
Meanwhile, in Mongolia, Kincora has been operating since 2010 and in late 2016, became the dominant landholder in one of the most prospective areas of the Southern Gobi belt, between, and on strike, with Rio Tinto’s (LON:RIO) giant Oyu Tolgoi copper-gold mine and the Tsagaan Suvarga Serven Sukhait porphyry development project.
Kincora has five independent large-scale drill targets within two projects. These are the West Kasula target and the West Extension (south) target at its flagship Bronze Fox project. At the East Tsagaan Suvarga project (East TS) project, the company has three brownfield targets.
An independent review of Bronze Fox in 2017 came up with a block model, which supported a large-scale copper-gold porphyry target, which beat expectations.
It showed a potential target range of between 416 Mt (million tonnes) and 428 Mt, grading 0.26% to 0.30% copper for up to 2,437Mlb (million pounds) of copper and 0.84Moz (million ounces) gold. Kincora has an exploration target at Bronze Fox of between 1.3 and 1.5 Mt (million tonnes) of copper equivalent metal.
How is it doing:
On March 19 this year, Kincora said details of its upcoming program in Australia were expected to be shortly announced. The work will focus on three known mineralized Northparkes porphyry targets, seeking to confirm the discovery of a new cluster of deposits.
The Trundle project is of immediate interest and will be a priority for the exploration program. Trundle lies 30km from the Northparkes operation, which is on track to produce over 20 million gold equivalent ounces over its mine life.
Significant intercepts from targets on the Trundle project include 56 m at 0.9 g/t gold and 0.4% copper from 34 m, including 2 m at 20 g/t gold, 7% copper and 81 g/t silver from 64 m.
Another intercept returned 39 m at 0.6 g/t gold and 0.1% copper from surface. In previous exploration campaigns, only 11 holes have been drilled beyond 300 m.
Another of the firm's Australian projects, Nevertire has also been home to encouraging exploration results. The prospect, along with Nyngan, consolidates land in an area thought to have significant potential for mineralization.
- Start of work at Lachlan Fold Belt assets
- News from Mongolia
What the boss says:
"Kincora is well-positioned and funded for high impact, value add drilling at a number of the most compelling drill targets in Australia's foremost porphyry belt, a belt that has recently attractive considerable investment and positive re-rating of active exploration peers," Sam Spring, the CEO of Kincora has said.