Kincora and partner AngloGold target new copper/gold district
TSX-V- and ASX-listed Kincora Copper on Wednesday outlined plans for the next chapter of copper/gold-focused drilling in the Macquarie Arc, in New South Wales, with a first programme in partnership with, and funded by, AngloGold Ashanti to start at the Nyngan project.
Kincora president and CEO Sam Spring said that the company was not only aiming to confirm a new significant porphyry copper/gold deposit in the Northern Junee-Narromine belt, but also a new district and series of discoveries.
“The strategic appeal and value of a new porphyry district has been clearly illustrated in the Vicuña district [in the central Andes] with corporate activities by BHP and Lundin Mining this month supporting over C$8-billion of value being recognised for a cluster of four new major discoveries,” he said.
Together with AngloGold, Kincora has expanded the number of targets and the drilling activities needed. The partners planned to test a series of major and previously undrilled interpreted magmatic complex targets at the Nyngan project.
“Initially we are aiming to test up to eight new major intrusive system complex targets before year-end in this first phase programme which focuses on the very compelling northern Nyngan ‘Ace of Spades’ region,” said Spring.
“Recent neighbouring explorer drilling is also supporting the potential of a series of Macquarie Arc intrusive complexes to the immediate east of the “Ace of Spades” target area along a potentially important common transverse structure providing further encouragement to the potential of a new porphyry district scale opportunity.”
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