Makes License Application For Mulla Gold-Copper Porphyry Project
Kincora Copper Ltd (ASX/TSXV:KCC) has applied directly to the NSW State Government for a new exploration license (ELA6304), covering the Mulla gold copper porphyry project.
The Mulla project covers 616 sq. km and is located in the interpreted northern undercover and underexplored section of the Junee-Narromine Belt of the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia, and south of the company’s ongoing drilling at the Nyngan project.
John Holliday, Technical Committee chair, and Peter Leaman, Senior VP of Exploration, stated that the Mulla project covers a regionally significant gravity low feature which the company considers, based on prior limited drilling and regional geophysics, could potentially host a porphyry complex within Macquarie Arc rocks under relatively shallow cover.
“Similar large-scale gravity lows in the Junee-Narromine Belt of the Macquarie Arc are associated with the world-class Cowal and Northparkes mineralised systems, and the Myall porphyry exploration project,” they said.
President and CEO, Sam Spring, added that the Mulla project hasn’t been drill tested since pre Bre-X, with two broad target zones already identified for follow up activities.
“Mulla adds to the company’s project pipeline in Australia’s leading porphyry belt at a time of increasing neighbouring ground pegging and drilling activities. Only in the last few weeks we have seen significant land grabs in the belt from majors and juniors alike, including adjacent to ongoing drilling activities at our Trundle and Nyngan projects,” Mr Spring said.
The last period of exploration undertaken within the license area was by Burdekin Resources NL before the Bre-X downturn. Burdekin followed up then new regional airborne geophysical data and the “Discovery 2000” water bore hydro-geochemical sampling program, both undertaken by the NSW Department of Mineral Resources.
The Mulla project is situated on a large regionally significant gravity low. A number of significant porphyry related systems and world-class mining operations sit on similar regionally significant gravity lows and major intrusive complexes within the Junee-Narromine Belt of the Macquarie Arc.
Kincora has made direct applications to the NSW government for the Nyngan, Nevertire and Mulla gold copper projects, which cover an area of approximately 1,761 sq. km in a highly prospective geologic terrane with encouraging limited previous explorer drilling and increasing neighbouring ground pegging and drilling activities. Recent pegging activities in the belt illustrated in Figure 1, including adjacent to Kincora’s Trundle and Nyngan projects.
The company’s drilling programmes continue at the Trundle (Trundle Park target) and the Nyngan (hole one of a two hole programme) projects.