C$5.33M Raising Supports Accelerated Campaign
Kincora Copper Ltd (TSXV:KCC) is in position to accelerate exploration activities at its Trundle brownfields project located in the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia.
The company recently completed a successful equity placement and obtained permits for a further 17 drill holes and has renewed landowner access agreements.
Senior VP of Exploration, Peter Leaman, said has also received further drilling encouragement at the Mordialloc prospect in its search for the high-grade core of a porphyry copper-gold system at Trundle.
“Drilling at the Mordialloc prospect is continuing to provide significant indications of being in close proximity to a high-grade part of the porphyry system,” Mr Leaman said.
“Kincora’s third hole at Mordialloc is currently drilling, intersecting intense propylitic alteration with some veined zones hosting chalcopyrite mineralisation.
“This further confirms our view that the Mordialloc prospect of the Trundle project has the potential for the discovery of an economic gold rich copper porphyry deposit.
“With access re-established after the local lambing season, the team is very excited to shortly resume drilling at the Trundle Park prospect located in the southern part of Trundle.
“An extensive drilling program is planned to follow up the near surface skarn system potential and to continue testing for a causative underlying mineralized porphyry copper-gold deposit, suggested by favourable results in our first drill hole.
“The recent capital raising provides funding to continue the systematic drill focused exploration programs at both Mordialloc and Trundle Park. “With new permits in place for a further 17 holes across the Trundle project and a good working relationship with the landowners and local stakeholders, the company is well placed to significantly advance our exploration targets in the upcoming months.”