- Nevertire copper-gold porphyry license granted
- Consolidates >1100km2 position in the most prospective sections of the northern Junee-Narromine Belt of the Macquarie Arc
- Kincora's portfolio since surrounded by others, including new major actively exploring and drilling in the Macquarie Arc
- Preparations advanced for Kincora drilling at Trundle
VANCOUVER, April 14, 2020 /CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV:KCC) is pleased have been granted a new exploration license (EL8960) covering 382.6km2 named the Nevertire project located in the Lachlan Fold Belt ("LFB"), central west New South Wales ("NSW"), Australia.
Kincora's portfolio of the Nevertire and Nyngan projects consolidates a land position of 1144km2 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. 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.
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 is in advanced preparations to commence phase 1 drilling at the Trundle project and will provide an update in due course.
For further details on the Trundle project, Kincora's strategy in the Lachlan Fold Belt and the region becoming the latest global hot spot for exploration please refer to the recent interview with Richard Schodde, MD of MinEx Consulting, and John Holliday, principal discoverer and site manager for the Tier 1 Cadia project and technical director of Kincora Copper.
The interview is available at: https://www.theassay.com/the-assay-tv/the-assay-tv-richard-schodde-john-holliday-kincora-copper/?dm_t=0,0,0,0,0
An updated accompanying Kincora corporate presentation is available at: https://www.kincoracopper.com/media/downloads/presentations/corporate-presentation-4-7-2020.pdf
Distribution of the Ordovician volcanic belts of the Macquarie Arc, showing major porphyry mining centres and the extent of younger cover sequences based on 1:250,000 scale mapping.
The Macquarie Arc hosts Newcrest's Cadia-Ridgeway camp and Alkane's Boda discovery (located in the Molong belt) and China Molybdenum Group's Northparkes mine and Evolution Mining's Cowal mine (Junee-Narromine volcanic belt).
References:
1 |
St Barbara Ltd open file report "Marra Joint Venture Annual Report for the period June 2010 – June 2011"* |
* publically available from the DiGS Geological Survey of NSW |
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 Peter Leaman (M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and John Holliday (BSc Hons, BEc, member of the Australian Institute of Geoscientists), Non-Executive Director and Technical Committee Chairman, who are the Qualified Persons for the purpose of NI 43-101.
About Kincora Copper Limited
(KCC – TSXV)
Kincora is an active junior and systematic explorer seeking to make a major discovery in Mongolia, the Lachlan Fold Belt in Australia and other prospective complementary jurisdictions.
Our technical team is credited with multiple discoveries of Tier 1 copper assets and in June 2019 the Company completed an oversubscribed $6.25m offering supporting an aggressive drilling and program generation strategy.
In the third quarter of 2019, the Company made the strategic decision to opportunistically pursue entry into the Macquarie Arc, in Central West of New South Wales (NSW), Australia. This is Australia's foremost porphyry belt, home to the giant Cadia mine, the Northparkes mine and recent Boda discovery by Alkane Resources.
The Macquarie Arc is synergistic in line with Kincora's core focus. It offers: the same scale of target (world-class); the same commodity mix (copper-gold or gold-copper); the same mineralized setting (porphyry &/or epithermal gold); supports a similar systematic exploration approach/exploration methods; and, is a region where the team has had significant exploration success.
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) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kincora Copper Limited
Sam Spring, President and Chief Executive Officer, [email protected] or +61431 329 345
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