Kincora Copper Limited (ASX & TSXV: KCC, Kincora or the Company) is pleased have been granted the Wongarbon Project located on the interpreted northern, under cover extension of the Macquarie Arc, in central New South Wales (“NSW”), Australia.
HIGHLIGHTS
- New wholly owned exploration license secured covering the Wongarbon Project, which is interpreted to host one of the last remaining untested and large intrusive complexes of the Macquarie Arc:
- Regionally significant magmatic complex situated on the interpreted under cover extension of the northern Molong Belt coincident with an intrusive level cross arc structure supporting a series of large and untested porphyry targets.
- Clear analogues of the nearby complexes and existing Tier 1 deposits in the Arc and aeromagnetic signatures of other globally significant porphyry deposits.
- Previously identified as a large-scale new intrusive complex target by Newcrest but not drill tested at the time due the Cadia Far East and Ridgeway discoveries.
- Recent interpretations support immediate high priority targets for drilling.
- The Wongarbon project has never been drilled.
- Alkane and Magmatic Resources’ are currently undertaking drilling at a total of seven porphyry targets along a common transverse structure that is interpreted to extend into the Wongarbon Project and be a key control to the 14.7Moz gold equivalent inventory at the Boda and Kaiser porphyry deposits.
- In May 2024, Kincora secured AngloGold Ashanti as a partner for the Northern Junee- Narromine Belt (NJNB) Project, including the Nyngan and Nevertire licenses, via an up to A$50m for 80% Earn-in and Joint Venture agreement. The NJNB Project host’s new district scale and largely untested intrusive complex potential similar to the Wongarbon Project.
The remaining untested intrusive complexes of the Macquarie Arc porphyry geology are a globally significant exploration opportunity. This is increasingly evidenced by AngloGold Ashanti, FMG and S2 Resources’ having secured over 10,000km2 of exploration ground in the last 12 months via four Earn-in and Joint Venture agreements supporting potentially over A$200m in exploration expenditure. Also in the Arc over this period Cadia and Northparkes, Australia’s largest and second largest porphyry mines, have been the focus of change of control acquisitions.
John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, commented:
“The next Cadia-scale deposit in the Macquarie Arc will likely be found in the covered and under explored parts of this proven Tier 1 terrane and jurisdiction.
This is virgin territory and a major opportunity with huge upside, which is being increasingly recognised as evidenced by recent significant deals and increasing investment by industry heavyweights.
Regional magnetics has proven very effective in mapping the volcanic belts and the major deposits have identifiable intrusive complex signatures. This is evidenced in the southern and more mature sections of the Arc that already hosts over 160Moz gold equivalent endowment.
Kincora’s Wongarbon, Nyngan and Nevertire projects are real stand out examples of these in the right locations and with the right features, hosting three of the very few remaining untested large volcano-intrusive complexes of the Arc.
It is absolutely mystifying why to date so little exploration has been carried out over the covered northern parts of the Arc and why Wongarbon has never been drilled. It is a prime candidate for major discovery.”
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