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Kincora Copper kicks off drilling at the only brownfield project held by a listed junior in Australia’s world-class gold-copper porphyry belt

Kincora has a serious depth of expertise when it comes to copper and gold exploration

Kincora Copper Ltd -

In a flick of a switch within the normal timelines of the resource sector Kincora Copper Ltd (CVE:KCC) has built a strategic position in Australia’s foremost porphyry belt, the Lachlan Fold Belt in Central West New South Wales, to complement its strategic position in Mongolia’s Southern Gobi.

The targets and strategy are the same - making globally significant new copper-gold discoveries.

Drilling has just commenced at the Trundle project in NSW seeking to achieve just that.

The Lachlan Fold Belt already hosts over 100mln ounces of gold and 24mln tonnes of copper.

Recent progress by Alkane Resources with its Boda gold-copper porphyry discovery and a new gold discovery by Sky Metals have put the spotlight back on the region. But in truth it never really went off the map, hosting as it does the world-class Cadia gold-copper property project, Newcrest Mining’s company maker, the Cowal gold project, Evolution Mining’s flagship, and the huge  Northparkes copper-gold project now owned by China Molybdenum Co Ltd.

According to internationally recognized mineral economist Richard Schodde, the Lachlan Fold Belt is the latest hot spot for global exploration. Since September 2019, over A$80mln in equity has been raised by eight ASX-listed Lachlan Fold Belt plays, and these have enjoyed a re-rating of 1.9x despite the recent market pull back.

“As an economic geologist you have to do that trade off between where can you find a good orebody and where can you make money and feel safe at night,” says Schodde.

“New South Wales, the Lachlan Fold Belt, for copper and gold is the place to be.”

It certainly appears the market is thinking the same as Schodde, and Kincora’s entry into the fray may well turn out to be a key development for the region and soon be the next success story.

Overall, Kincora now controls 1,732 square kilometres of ground and the team already has a unique track record in the region. Technical director John Holliday was the principal discoverer and site manager of the Tier 1 Cadia and Marsden porphyry gold-copper deposits, was formerly chief geoscientist of Newcrest and is still based in the region.

“The thing that really got our attention is the Trundle project, which we think is the best standalone target in the belt behind Alkane’s Boda discovery,” says Kincora chief Sam Spring.

“Similar to Alkane’s discovery, we are drilling within a proven mineralised system, albeit ours a brownfield, below previous holes with improving grades and open. This is the most compelling drilling program and target since I joined Kincora in 2012”.

The senior exploration team members at Kincora share Spring’s sentiment. Peter Leaman, Senior Vice-President of Exploration, expands: “Modern systematic exploration at Trundle has utilised industry-leading induced polarisation surveys, including HPX’s proprietary Typhoon system, and magnetic modelling which has been insufficiently followed up by drilling,” he says.

“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.”

The initial plan is to put six holes into the ground for a total of around 3,800 metres, and it will certainly be interesting to see what the results are and how the market responds.

Kincora’s entry into the Lachlan Fold Belt and its future plans are just starting to be recognized.

Based on peer group valuations of other exploration juniors active in the region and the conviction the Kincora team has for these targets the company could be a “multi-bagger” for shareholders from current levels.

Watch this space.

Quick facts: Kincora Copper Ltd

Price: 0.135 CAD

TSX-V:KCC
Market: TSX-V
Market Cap: $28.11 m
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