Kincora Copper Restricted (ASX & TSXV: KCC, Kincora or the Firm) is happy have been granted the Wongarbon Undertaking situated on the interpreted northern, below cowl extension of the Macquarie Arc, in central New South Wales (“NSW”), Australia.
HIGHLIGHTS
- New wholly owned exploration license secured overlaying the Wongarbon Undertaking, which is interpreted to host one of many final remaining untested and huge intrusive complexes of the Macquarie Arc:
- Regionally important magmatic complicated located on the interpreted below cowl extension of the northern Molong Belt coincident with an intrusive stage cross arc construction supporting a sequence of huge and untested porphyry targets.
- Clear analogues of the close by complexes and current Tier 1 deposits within the Arc and aeromagnetic signatures of different globally important porphyry deposits.
- Beforehand recognized as a large-scale new intrusive complicated goal by Newcrest however not drill examined on the time due the Cadia Far East and Ridgeway discoveries.
- Latest interpretations assist speedy excessive precedence targets for drilling.
- The Wongarbon undertaking has by no means been drilled.
- Alkane and Magmatic Assets’ are at the moment endeavor drilling at a complete of seven porphyry targets alongside a typical transverse construction that’s interpreted to increase into the Wongarbon Undertaking and be a key management to the 14.7Moz gold equal stock on the Boda and Kaiser porphyry deposits.
- In Could 2024, Kincora secured AngloGold Ashanti as a accomplice for the Northern Junee- Narromine Belt (NJNB) Undertaking, together with the Nyngan and Nevertire licenses, by way of an as much as A$50m for 80% Earn-in and Joint Enterprise settlement. The NJNB Undertaking host’s new district scale and largely untested intrusive complicated potential much like the Wongarbon Undertaking.
The remaining untested intrusive complexes of the Macquarie Arc porphyry geology are a globally important exploration alternative. That is more and more evidenced by AngloGold Ashanti, FMG and S2 Assets’ having secured over 10,000km2 of exploration floor within the final 12 months by way of 4 Earn-in and Joint Enterprise agreements supporting doubtlessly over A$200m in exploration expenditure. Additionally within the Arc over this era Cadia and Northparkes, Australia’s largest and second largest porphyry mines, have been the main target of change of management acquisitions.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:
“The following Cadia-scale deposit within the Macquarie Arc will seemingly be discovered within the lined and below explored components of this confirmed Tier 1 terrane and jurisdiction.
That is virgin territory and a significant alternative with big upside, which is being more and more recognised as evidenced by current important offers and rising funding by trade heavyweights.
Regional magnetics has confirmed very efficient in mapping the volcanic belts and the most important deposits have identifiable intrusive complicated signatures. That is evidenced within the southern and extra mature sections of the Arc that already hosts over 160Moz gold equal endowment.
Kincora’s Wongarbon, Nyngan and Nevertire tasks are actual stand out examples of those in the suitable areas and with the suitable options, internet hosting three of the only a few remaining untested giant volcano-intrusive complexes of the Arc.
It’s completely mystifying why thus far so little exploration has been carried out over the lined northern components of the Arc and why Wongarbon has by no means been drilled. It’s a prime candidate for main discovery.”
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