Kincora Copper Restricted (ASX & TSXV: KCC, Kincora or the Firm) is happy have been granted the Wongarbon Mission positioned on the interpreted northern, beneath cowl extension of the Macquarie Arc, in central New South Wales (“NSW”), Australia.
HIGHLIGHTS
- New wholly owned exploration license secured protecting the Wongarbon Mission, which is interpreted to host one of many final remaining untested and enormous intrusive complexes of the Macquarie Arc:
- Regionally important magmatic complicated located on the interpreted beneath cowl extension of the northern Molong Belt coincident with an intrusive degree 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 rapid excessive precedence targets for drilling.
- The Wongarbon venture has by no means been drilled.
- Alkane and Magmatic Sources’ are at present endeavor drilling at a complete of seven porphyry targets alongside a typical transverse construction that’s interpreted to increase into the Wongarbon Mission and be a key management to the 14.7Moz gold equal stock on the Boda and Kaiser porphyry deposits.
- In Might 2024, Kincora secured AngloGold Ashanti as a associate for the Northern Junee- Narromine Belt (NJNB) Mission, 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 Mission host’s new district scale and largely untested intrusive complicated potential just like the Wongarbon Mission.
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 Sources’ having secured over 10,000km2 of exploration floor within the final 12 months by way of 4 Earn-in and Joint Enterprise agreements supporting probably 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 probably be discovered within the coated and beneath explored components of this confirmed Tier 1 terrane and jurisdiction.
That is virgin territory and a serious alternative with enormous upside, which is being more and more recognised as evidenced by latest important offers and growing 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 initiatives are actual stand out examples of those in the fitting places and with the fitting options, internet hosting three of the only a few remaining untested massive volcano-intrusive complexes of the Arc.
It’s completely mystifying why to this point so little exploration has been carried out over the coated 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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