Kincora Copper Ltd (TSXV: KCC) has commenced drilling activities at the Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB), in central west NSW, Australia.
Chairman, John Holliday, said a first phase drilling programme is planned for six holes and 3,800m, testing three known mineralised targets seeking to discover a new cluster of porphyry deposits.
He said extensive porphyry and skarn-style copper-gold mineralisation and informal mining activities are associated with several Ordovician intrusive centres across the full Trundle license, which is located within a prolific mining and infrastructure district.
“Modern systematic exploration at Trundle has utilised industry leading Induced Polarisation survey’s, including HPX’s proprietary Typhoon system, and magnetic modelling which has been insufficiently followed up by drilling,” Mr Holiday said.
“Existing significant drill intersections supports vectoring to very compelling targets at three existing mineralised systems within a brownfield environment to Northparkes, Australia’s second largest porphyry mine where five deposits are defined.
“We are very excited by the upcoming high impact and funded drilling program at Trundle.”
President & CEO, Sam Spring, said the Kincora team has demonstrated Tier 1 exploration success in the belt, which coupled with unique prior exploration experience at Trundle, and the quality of prior activities and results, has supported mobilising drilling within three months of agreeing the MoU with our now project level JV partner RareX Limited.
The Trundle project is located 30km west of the China Molybdenum Company Limited (CMOC) operated Northparkes copper-gold project, which is Australia’s second largest porphyry mine (behind Cadia, also located in the Macquarie Arc).
CMOC acquired an 80% interest in Northparkes from Rio Tinto in July 2013 for US$820 million (Sumitomo retaining a 20% minority interest) and has since undertaken a material expansion of production and extension of mine life.
Trundle hosts the inferred westerly rift of the Northparkes Igneous Complex with extensive evidence of porphyry and skarn-style copper-gold mineralisation across a 12.5km strike associated with Ordovician intrusive centres similar to the Northparkes and Cadia deposits and mines.
At Trundle, surface geological mapping, geochemistry, magnetic, gravity and Induced Polarisation (“IP”) coverage, coupled with structural and basement interpretations have been positive, indicative of multiple levels and phases of large mineralised copper and gold systems.
Past drilling has been extensive with the completion of 2208 holes for 61,146 metres but drilling utilising the modern exploration techniques, and deeper drilling to basement and target depth has been inadequate.
Over 92% of prior drilling has been to less than 50 metres depth with just 11 holes beyond 300 metres (0.5% of holes drilled). Existing significant drill intersections supports vectoring to very compelling targets at three existing mineralised systems that have not been drilled since industry leading Induced Polarisation survey’s, including HPX’s proprietary Typhoon system, and magnetic modelling.
Drilling has commenced at the Trundle Park prospect (which sits within the southern portion of the license) where prior activities have intersected very high-grade localised zones within a large lower grade skarn magnetite skarn, similar incoran style to the Big Cadia skarn that is peripheral to the Cadia porphyry copper-gold deposits.
No drilling has tested below these mineralised holes where geophysics and relogging of historic drilling has indicated proximity to a porphyry source. Encouragingly the prior drilling provides vectors and supports subsequently defined underlying geophysical at shallow to moderate depth targets