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Kincora Copper unveils positive visual results from first hole at advanced Trundle project in Australia

The hole was sunk to a depth of 685 metres at the Trundle Park target and showed positive visual results

Kincora Copper Ltd -
Previous assay results at Trundle Park include a higher-grade interval of 2 metres at 20 grams per ton (g/t) gold, 6.97% copper and 81 g/t silver from 64 meters

Kincora Copper Ltd (CVE:KCC) revealed Tuesday it has got off to a good start in Australia, with the first exploration hole at its Trundle project in New South Wales underlining the potential of the property.

The hole was sunk to a depth of 685 metres (m) at the Trundle Park target and showed positive visual results, hitting multiple mineralized skarn zones and confirming the potential links to the adjacent porphyry system, the company said.

READ: Kincora Copper granted new exploration license in Lachlan Fold Belt, central west New South Wales

Previously, the average depth of holes sunk at the Trundle Park target was only 28m, and a high priority follow up hole is planned after these assays are received, it added.

"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," John Holliday, chairman of Kincora's technical committee, and Peter Leaman, senior VP of exploration said in a statement.

Results of the hole included 28m of visually interpreted moderate mineralization from 55m, including a higher-grade 6.5m interval.

Previous assay results at Trundle Park include a higher-grade interval of 2m at 20 grams per ton (g/t) gold, 6.97% copper and 81 g/t silver from 64 meters.

"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," Leaman and Holliday added.

"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."

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

Earlier this year, Kincora closed a deal with RareX Ltd concerning copper-gold assets in New South Wales, firing the starting pistol on the group carrying out high impact drilling at a number of targets in Australia's foremost porphyry belt.

The deal gave Kincora the ability to acquire a 65% interest in six mineral leases in the Lachlan Ford Belt. The flagship is the Trundle project, which lies 30 kilometers (km) west of the China Molybdenum Company Limited (CMOC) operated Northparkes copper-gold project.

It is the only brownfield porphyry project held by a listed junior in the Macquarie Arc, Australia's foremost porphyry region.

Kincora also revealed in its statement on Tuesday that drilling has also started at the Mordialloc target, around 12.5 km north of Trundle Park, where previous drilling has returned metal grades comparable to the peripheral parts of the Northparkes deposits.

Shares in Toronto raced up 18.75% to C$0.095.

---Updates for share price---

Contact the author at [email protected]

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Price: 0.145 CAD

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