Southern Extension Zone discovery expanded at Trundle Park
- Assay results for TRDD030 return cumulative gold and copper mineralisation across 164m in three skarn zones:
- Localised higher grade intervals of up to 1.68g/t gold and 3.61% copper
- Middle Skarn: 29m @ 0.54 g/t gold and 0.22% copper, including 5m @ 1.46g/t gold and 0.56% copper
- Lower Skarn: 22m @ 0.51 g/t gold
- Most recent hole TRDD032 has intersected cumulative skarn intervals of >170m below multiple zones and phases of moderate to strong potassic and later epidote alteration, in places cut by quartz veinlets with chalcopyrite, bornite and covellite mineralisation in volcanics.
- Tabular, bedded, mineralised skarn system across three zones confirmed over >325m NW-SE strike and >225m W-E wide (and open) in the Southern Extension Zone (SEZ) discovery.
- Skarn alteration, widths and mineral zonation coupled with sulphide veining in overlying volcanics supports working interpretation of targeted causative intrusive source on a lateral setting.
- Hole TRDD033 commenced stepping out a further 225m east and testing the southern extension for mineralised intrusions.
- Internal and external specialist geological reviews of the Southern Extension Zone commenced, seeking to maximize vectors for follow up drilling.
- Assay results are pending for 8 prospects across the Trundle and Fairholme projects, including for 2 diamond holes (from the SEZ discovery) and 72 air-core holes. Within the Mongolian license portfolio, completion of resource estimate work for the Bronze Fox project is expected shortly.
MELBOURNE, Australia, April 26, 2022 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is very pleased to provide an exploration update from ongoing drilling at Trundle Park prospect situated at the brownfield Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB) in NSW, Australia.
John Holliday, Technical Committee chair, noted:
"Assay results from TRDD030 with intervals of ore grade copper and gold in skarn further illustrate a very large and multiple phase skarn mineralised system at the Southern Extension Zone (SEZ) discovery.
And now the most recent hole (TRDD032) has extended the system more than 150m to the southeast by also intersecting significant widths with visible chalcopyrite associated with magnetite-garnet-sulphide skarn and later retrograde quartz-carbonate-sulphide veins. This hole also has strong alteration and high temperature sulphides, including bornite, covellite and chalcopyrite, in the volcanics overlying the skarn.
With four completed holes, two with assay results, along a 330 metre strike which is 225m wide (and open in all directions), we are increasing our geological firepower to maximise our knowledge of this highly prospective SEZ discovery. We are continually seeking to refine vectors for high priority follow-up drilling of our primary target, a large-scale copper-gold mineralised porphyry intrusion source for the skarn mineralisation. This work will now be reinforced by the knowledge of Dr. Alan Wilson, a leading independent economic geologist consultant with considerable global and Macquarie Arc porphyry experience, whom I have previously worked very closely with.
Recently commenced follow up hole TRDD033 is another large step out to the east, seeking to extend the SEZ and locate the porphyry intrusion source. This hole is expected to significantly contribute to our review work and have implications for both follow up drilling at the SEZ and also the Botfield skarn prospect which lies further south."
An accompanying presentation, including further details on the Trundle project, Kincora's pending news flow pipeline and exploration plans is available at www.kincoracopper.com
Figure 1: Significant new mineralised zones and extension with the Southern Extension Zone (SEZ) discovery
The Trundle Park prospect hosts a ~1.3 km NE-SW mineralised system and remains open
Figure 2: Sections and working interpretation of the SEZ discovery
Cross and long section of a tabular, bedded mineralised skarn system confirmed across three zones over a >325m strike (and open in all directions) with quartz sulphide veining in holes TRDD029, TRDD030, TRDD031 and TRDD032 at the Trundle Park prospect
Figure 3: Concepts and target for commenced hole TRDD033
Hole TRDD033 will provide significant new information for the ongoing review of the SEZ and also the neighbouring southern Botfield skarn mine prospect. TRDD033 is a ~225m step out east of the mineralised magnetite skarns intersected in TRDD032 and testing the southern strike potential of intrusions intersected to the north.
Assay results from TRDD030 further illustrate a very large and multiple-phase mineralising system, with cumulative mineralised intervals of 164m covering three separate skarn horizons. Zones of prospective gold and copper tenure were returned in both the Upper, Middle and Lower Skarns. Assay results are included in Tables 1 and 2.
These results follow not dissimilar widths and grades in previously reported TRDD0291, which was the first hole into the Southern Extension Zone (SEZ) discovery area. While not thought to be economic intervals, they are interpreted to be suggestive of a significant scale source, provide vectors for following up drilling and strongly support Kincora's primary target of a causative porphyry intrusion.
Most recently completed hole TRDD032 has intersected cumulative skarn alteration across >170m down-hole and expanded the skarn system significantly to the east, and south.
The four completed holes to date into the SEZ (TRDD029-32) have confirmed a tabular, bedded, mineralised skarn system across three zones over at least a 325m SSE strike and 225m W-E wide system (and open) – see Figures 1-3. This is very encouraging and significant in the context of the Macquarie Arc.
Similar to previous holes in the SEZ, hole TRDD032 has returned visual copper sulphides associated with intervals containing magnetite, in particular the assemblages with (a) early magnetite-garnet-pyrite-chalcopyrite, in turn cut by later quartz-carbonate-hematite-pyrite-chalcopyrite veins and open space fillings.
However, there are also traces of bornite, covellite and chalcopyrite occurring in the upper volcanoclastic rock sequences in TRDD032 associated with an early potassic (Kspar) alteration interpreted to be overprinted by an epidote-quartz-sulphide alteration phase. Examples of key mineralised zones/vectors from hole TRDD032 are included in Figure 5.
The width, alteration and mineralisation of the respective three skarn zones, coupled with alteration and mineralisation in the overlying volcanics from holes TRDD029-32 are providing insights to the interpreted fluid pathways from the targeted causative porphyry intrusion and source.
With assay results available for TRDD029 and TRDD030, and detailed initial logging of TRDD031 and TRDD032, an internal review has commenced seeking to maximise the geological information available and refine vectors for high priority follow-up drilling.
Kincora's hosting at site of both Professor Dave Cooke and Dr. Lejun Zhang, from the Centre for Ore Deposit and Earth Sciences (CODES), University of Tasmania (UTAS), has already assisted this review. The review will be also supplemented by a more detailed input from, and core relogging by, Dr. Alan Wilson (GeoAqua Consultants). Dr. Wilson is a leading independent economic geologist consultant with considerable global and Macquarie Arc porphyry experience (refer to Figure 4 for Kincora's adaptation of Dr. Wilson's original Macquarie Arc model for our current interpretation of the location of the Southern Extension Zone relative to the targeted causative intrusive source, and a lateral setting to the existing intersected skarn system).
Figure 4: The Southern Extension Zone is interpreted to be on a lateral setting to the primary target causative intrusive source and porphyry target
Conceptual and illustrative setting of the SEZ relative to the Macquarie Arc porphyry model with a targeted causative intrusive porphyry source being at a lateral setting to the skarns intersected in TRDD029-32 (similar to the Big Cadia skarn and Cadia Quarry). The Macquarie Arc porphyry model is adopted from Dr. Alan Wilson.
Recently commenced follow up hole TRDD033 is another large step out to the east, seeking to also determine if the intrusions intersected to the north continue into this portion of the SEZ. TRDD033 is a ~225m step out east from the mineralised magnetite skarns intersected in TRDD032 and ~430m from TRDD031. TRDDo33 is also ~450m south of previously intersected mineralised intrusions (TRDD010). This hole is expected to significantly contribute to the review and have implications for both follow up drilling at this immediate discovery zone and also the neighbouring southern Botfield skarn prospect.
Following completion of the current hole TRDD033, as the ongoing technical review is concluded and before an existing access window closes, a second diamond drill hole is scheduled at the Mordialloc North-East prospect and prior to a proposed shallow 26-hole air-core program at the Mordialloc prospect.
The Company currently has a significant amount of assay results pending for 8 prospects across 2 projects (Trundle and Fairholme).
At Trundle this includes two diamond holes at the SEZ (TRDD031-32) and 50 shallow air-core holes from the Dunn's and Ravenswood South prospects.
For the Fairholme project this includes 22 air-core holes across the Anomaly 2, Gateway prospects, Kennel, Glencoe and Driftway-C prospects (with drilling at the Gateway prospect included under a New Frontiers Cooperative Drilling program grant – see the January 31st, 2022 press release "Kincora awarded $389,500 in drilling grants" for further details).
Within the Mongolian license portfolio, a maiden JORC resource shortly expected for the Bronze Fox project.
Further details of the Company's news flow pipeline and exploration strategy is outlined on slide 5 of the accompanying updated corporate presentation (available at www.kincoracopper.com ).
Figure 5: Examples of key mineralised zones/vectors from hole TRDD0323 (Assay results pending)
i. LHS: Kfeldspar-epidote-carbonate-tourmaline vein with pyrite-chalcopyrite @ 212.9m, hosted in volcaniclastic conglomerate
RHS: Volcaniclastic conglomerate with a collapse breccia comprising chalcopyrite-bornite hosted in
epidote-kfeldspar-quartz cement @ 218.7m
ii. LHS: Quartz-hematite-chlorite vein with chalcopyrite clots and pyrite rimming @ 310.4m
RHS: Quartz-carbonate stringer vein with bornite-covellite @ 312.1m in volcaniclastic conglomerate.
iii. Quartz-carbonate-hematite filling with significant chalcopyrite @ 736.8-737.2m
iv. Massive magnetite with disseminations of chalcopyrite and pyrite @ 824.5-825.6m
v. Banded magnetite-pyroxene-brown garnet skarn in volcaniclastic sandstone @ 845.9-852.9m, with insert including massive chalcopyrite
Trundle Project background
The Trundle Project is located in the Junee-Narromine volcanic belt of the Macquarie Arc, less than 30km from the mill at the Northparkes mines in a brownfield setting within the westerly rift separated part of the Northparkes Igneous Complex ("NIC"). The NIC hosts a mineral endowment of approximately 24Moz AuEq (at 0.6% Cu and 0.2g/t Au) and is Australia's second largest porphyry mine comprising of 22 discoveries, 9 of which with positive economics.
The Trundle Project includes one single license covering 167km2 and was secured by Kincora in the March 2020 agreement with RareX Limited ("REE" on the ASX). Kincora is the operator, holds a 65% interest in the Trundle Project and is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint venture will be formed.
For further information on the Trundle and Northparkes Projects please refer to Kincora's website: https://kincoracopper.com/the-trundle-project/
This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)
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) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Drilling, Assaying, Logging and QA/QC Procedures
Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors, using the Company's protocols as per industry best practise.
All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal checks by ALS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all assayed samples.
Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists. All drill core was logged to best industry standard by well-trained geologists and Kincora's drill core sampling protocol consisted a collection of samples over all of the logged core.
Sample interval selection was based on geological controls or mineralization or metre intervals, and/or guidance from the Technical Committee provided subsequent to daily drill and logging reports. Sample intervals are cut by the Company and delivered by the Company direct to ALS.
All reported assay results are performed by ALS and widths reported are drill core lengths. There is insufficient drilling data to date to demonstrate continuity of mineralised domains and determine the relationship between mineralization widths and intercept lengths.
True widths are not known at this stage.
Significant mineralised intervals for drilling at the Trundle project are reported based upon two different cut off grade criteria:
- Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively; and,
- Porphyry intrusion system gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.
Significant mineralised intervals are reported with dilution on the basis of:
- Internal dilution is below the aforementioned respective cut off's; and,
- Dilutions related with core loss as flagged by a "*".
The following assay techniques have been adopted for drilling at the Trundle project:
- Gold: Au-AA24 (Fire assay), reported.
- Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes TRDD002-TRDD022.
- Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported.
- Assay results >10g/t gold and/or 1% copper are re-assayed.
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 Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose of NI 43-101.
JORC Competent Person Statement
Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and approved by Mr. Paul Cromie, a Qualified Person under the definition established by JORC and have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.
Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), is Exploration Manager Australia for the Company.
Mr. Paul Cromie consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
The review and verification process for the information disclosed herein for the Trundle, Fairholme and Nyngan projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
Criteria |
JORC Code explanation |
Commentary |
Sampling techniques |
|
Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements)
|
Drilling techniques |
|
|
Drill sample recovery |
|
|
Logging |
|
|
Sub-sampling techniques and sample preparation |
|
|
Quality of assay data and laboratory tests |
|
|
Verification of sampling and assaying |
|
|
Location of data points |
|
|
Data spacing and distribution |
|
|
Orientation of data in relation to geological structure |
|
|
Sample security |
|
|
Audits or reviews |
|
|
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria |
JORC Code explanation |
Commentary |
Mineral tenement and land tenure status |
|
|
Exploration done by other parties |
|
|
Geology |
|
|
Drill hole Information |
|
|
Data aggregation methods |
|
|
Relationship between mineralisation widths and intercept lengths |
|
|
Diagrams |
|
|
Balanced reporting |
|
|
Other substantive exploration data |
|
|
Further work |
|
|
SOURCE Kincora Copper Limited
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Sam Spring, President and Chief Executive Officer, [email protected] or +61431 329 345; For media enquiries: Media & Capital Partners, Angela East at [email protected]; Executive office, 400 - 837 West Hastings Street, Vancouver, BC V6C 3N6, Canada, Tel: 1.604.283.1722, Fax: 1.888.241.5996; Subsidiary office Australia, Leydin Freyer Corp Pty Ltd, Level 4, 100 Albert Road, South Melbourne, Victoria 3205
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