Grant Monies Will Fund Direct Drilling Costs In Lachlan Fold Belt
Kincora Copper Ltd (TSXV:KCC) has secured a co-funding grant from the NSW Government to drill two porphyry targets at our Nyngan copper-gold project.
The Nyngan project is located in the interpreted northern undercover section of the Junee-Narromine Belt of the Macquarie Arc of the high profile Lachlan Fold Belt.
President and CEO, Sam Spring, said The Junee-Narromine Belt is considered highly prospective for large gold-copper porphyry deposits and/or epithermal gold deposits. The Belt hosts the CMOC Northparkes deposits, Evolution Mining’s Cowal deposits and Kincora’s Trundle project where drilling is ongoing.
“We thank the Government and Geological Survey of NSW for the financial support to drill two large scale porphyry copper-gold targets at our Nyngan project, with favourable results in previous drilling 15 years ago not followed up,” Mr Spring said.
“Together with our Nevertire license, Kincora was an early mover securing a large and strategic position over the most prospective and explorable sections of the undercover continuation of the Junee-Narromine Belt, a region that has had very limited modern porphyry exploration.
“Recently, there has been a considerable land grab in this section of the Belt, particularly by FMG Resources and Inflection Resources. Successful drill testing of Nyngan, or by FMG and Inflection in neighbouring licenses, will significantly enhance the wider prospectivity of this underexplored section of the Belt.
“With positive drill results ongoing at our Trundle project, the Company is progressing plans to further systematically advance our district scale project pipeline in the region, with the Fairholme gold project and Nyngan copper-gold project being key priorities.”