Kincora Copper Ltd. (CVE:KCC) said it has been granted a new exploration license (EL8960) covering 382.6 square kilometres, named the Nevertire project, located in the Lachlan Fold Belt central west New South Wales in Australia.
The company said its portfolio of the Nevertire and Nyngan projects consolidates a land position of 1,144 square kilometres in the most prospective and shallow to moderate cover of the northern Junee-Narromine Belt.
The region was previously the focus of St Barbara Ltd's Big Gold Lachlan Project-Marra Joint Group project that covered various separate license areas across an 80km strike.
In a statement, Kincora noted that St Barbara viewed "the area to contain the largest volcano-intrusive center of the Ordovician-Silurian Macquarie Arc, which to the south hosts world-class porphyry copper-gold deposits such as Northparkes and Cadia-Ridgeway. As such St Barbara interprets the project area to have equal or greater potential to host a world-class porphyry copper-gold deposit1."
John Holliday, chairman of Kincora's Technical Committee, commented: "Kincora was a first-mover looking to secure a strategic and district-scale position in the most prospective, underexplored sections of the northern Junee-Narromine Belt.”
He added: “Since our entry we have been surrounded by others pegging ground. Exploration tenure in this region has increased over 40%, and we have also recently seen ground applied for adjacent to our Trundle project in the southern section of this belt.
“This pegging includes activities by a new major who now has applications adjacent to three of our existing licenses and is an active explorer in the Macquarie Arc".
Kincora said it is in advanced preparations to commence phase 1 drilling at the Trundle project and will provide an update in due course.