Porphyry system extended to surface and depth at Trundle Park

·29 min read
  • Assay results for TRDD014W1 return significant higher gold grade skarn intervals and broad intervals of porphyry style intrusions at the Trundle Park prospect;

  • For the first time at the Trundle Park prospect most recently completed hole TRDD028 intersected broad porphyry style intrusions from near surface (to 467m), with the targeted deeper intrusive body also intersected (assay results pending);

  • Assay results for TRDD022 (162m @ 0.24 g/t gold and 0.04% copper, including 18m @ 0.75 g/t gold and 0.09% copper), TRDD014/W1 and visual interpretation of TRDD028 provided further confidence of proximity to the core of a large porphyry intrusive system, vectors for follow up drilling and support the working model of a vertically extensive mineralized intrusive system that has both open pit and underground target potential;

  • Hole TRDD029 has commenced testing nearer surface intrusive potential, and also western and southern strike for both skarn and porphyry type intrusion mineralization at depth.

MELBOURNE, Australia, Dec. 7, 2021 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is pleased to provide an exploration update from ongoing drilling at Trundle Park prospect situated at the brownfield Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB) in NSW, Australia.

Link to full 18 page press release including 6 Figures and 4 Tables (CNW Group/Kincora Copper Limited)
Link to full 18 page press release including 6 Figures and 4 Tables (CNW Group/Kincora Copper Limited)

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, noted:

"The occurrence of the targeted porphyry intrusive system from surface to depth in TRDD028 (assay results pending) provides a new nearer surface and potentially open pit target in addition to the known deeper parts of the system at the Trundle Park prospect. This is a very positive development and consistent with a number of the vertically extensive intrusive deposits at Northparkes that extend from nearer surface to depth.

Assay results for TRDD014W1 confirmed our initial visual interpretations with broad intrusive intervals and higher-grade skarn zones. The widths of mineralised intervals returned in TRRD014W1 and visual intrusions in TRDD028 are very encouraging.

We continue to see the right rocks and alteration in what is an increasingly large intrusive system. The recently commenced hole TRDD029 will test the nearer surface intrusive, and southern and western depth potential, with the west and south still open for further follow up drilling as we seek to intersect the higher grade and inner potassic core of the intrusive system."

Figure 1: Assay results pending for both the Trundle and Fairholme projects

  • Favourable locations of the key porphyry belts of the Macquarie Arc

  • Advance stage exploration projects with demonstrated large scale mineralised systems

  • Hallmarks to neighbouring world-class deposits

Figure 2: Trundle is the only brownfield porphyry project held by a listed junior in the Lachlan Fold Belt (LFB), located within Northparkes Igneous Complex which already hosts the 2nd largest porphyry mine in Australia (endowment 5.5Moz Au & 4.5Mt Cu1)

  • Large geochemical footprints with a cluster of concealed intrusive deposits at Northparkes

1 Bespoke March 2020 report by Richard Schodde, MinEx Consulting, for Kincora

Trundle Park prospect

Recent drilling at the Trundle Park prospect has confirmed a significant area and multiple intrusive porphyry system with a mineralised zone emerging. The latest hole (TRDD028) now also demonstrates nearer surface potential for a multiple intrusive system (assay results pending).

These results provided further confidence of proximity to the core of a porphyry intrusive system such as the multiple deposits at the neighbouring Northparkes mine or at Cadia-Ridgeway – where Figure 1 outlines our target model - and supports the working geological concept of a vertically extensive mineralized intrusive system that has both open pit and underground target potential.

Figure 3: The clusters of deposits at the neighbouring Northparkes mine and at Cadia-Ridgeway exhibit multiple intrusive systems and an alteration, lithology and mineralised setting not dissimilar to the Trundle Park prospect around discrete mineralized cores of only hundreds of metres width that are vertically extensive

Assay results have been received for TRDD014W1 that intersected significant higher gold grade skarn intervals and broad intervals of porphyry style intrusions. Highlights include:

  • 42m @ 0.42 g/t gold and 0.12% copper from 358m, including:

  • 48m @ 0.19 g/t gold and 0.03% copper from 458m

  • 122m @ 0.16g/t gold and 0.03% copper from 596m

  • 10m @ 0.21g/t gold and 0.06% copper from 750m

  • 16m @ 0.11g/t gold and 0.07% copper from 860m

Further details and significant intervals are included in Table 1 and see Figure 4 (c) for a cross section.

This hole was a wedge drilling off previous hole TRDD014, seeking to extend the original hole to greater depth and provide coverage towards TRDD022. TRDD014W1 has confirmed, expanded and returned higher grade skarn intervals, and extended the intrusive systems returned in both TRDD014 and TRDD022 to depth and on strike.

Assay results for TRDD014W1 confirmed our initial visual interpretations with broad intrusive intervals and higher-grade skarn zones, and the widths of and multiple intervals returned are very encouraging.

The lithologies, alteration, veining, mineral tenor and structural interpretations have provided further confidence of a proximal environment to the targeted causative intrusion at the Trundle Park prospect, as well as vectors for follow up drilling.

Initial follow up hole TRDD028 was drilled parallel and west of TRDD014/W1, and further expanded the deeper intrusive system to the west but importantly also intersected a broad and nearest to surface intrusive system identified to date at the prospect.

Figure 4: Recently completed TRDD028 has intersected broad intervals of the targeted intrusive system nearer surface than previously recognized at the Trundle Park prospect and expanded the system to depth and the west of previous drilling.

Recently commenced follow up hole TRDD029 is further testing the nearer surface and deeper intrusive system to the west and south.

(a) Plan view of Trundle Park prospect and planned hole TRDD029 - see Figure 3 (b) for section

(b) Working Leapfrog model and design of hole TRDD029 – Trundle Park prospect section

(Section line through Figure 3 (a). Length ~900m and width ~1000m, ~400m to the NNE with only the trace of TRDD029 and TRDD017 to the SSE)

(c) Insert with mineralised intervals and illustration of strike/down dip target of TRDD029, noting the distance from TRDD029 to TRDD028 is ~150m and 95m west to TRDD014/17

(Length ~700m and width ~420m)

Table 1: Trundle Park target hole TRDD014W1 - Significant broad mineralized intervals

Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.
Internal dilution is below cut off; and, * Dilutions related with Core loss

From initial logging of TRDD028 notable zones include (with assay results pending):

  1. Upper intrusions (surface – 467m): a weathered monzodiorite intrusion was intersected from surface to 39m down-hole followed by a short interval of volcanoclastic sandstones and siltstones to 69m. A broad upper interval of monzodiorite was then intersected to 467.3m, which was in-turn intruded in multiple zones by red (interpreted potassic altered) monzonite dyke-like bodies (<2 and >10m wide). Quartz-sulphide veins were also observed in the monzonite dykes. See Figure 6 (a) and (b) for examples of core from this zone.

  2. Skarn altered volcanoclastic rocks (467 – 741m): a volcanoclastic dominated sequence (mainly grey sandstones and siltstones) was intersected with multiple intervals of zoned skarn alteration spaced approximately 100m apart and occurring close by to intrusion contacts. In the upper (retrograde) skarn two cavities were observed comprising green garnet-carbonate-epidote-magnetite-pyrite and minor chalcopyrite and trace bornite – see Figure 6 (c).

  3. Lower intrusions (741 – 868.3m): A broad lower interval of monzodiorite was intersected, with similarities to those observed in TRDD014W1. Comparatively, to the upper zone, this larger monzodiorite intrusion is cut by two zones (smaller) of red monzonite intrusions. See Figure 6 (d).

  4. Thrust fault with a slice of volcanoclastic sequence then conglomerate (868 – 879m): the interpreted regionally significant westerly dipping thrust fault (the Tullamore thrust) was intersected in close proximity to the forecast depth at 870m and defined by sheared red clays to 873m down-hole, followed by a preserved slice of a sheared volcanoclastic sequence +/- pyrite intersected from 873-878.8m. A dark red conglomerate unit with fragments of grits, shale and rounded pebble sized felsic intrusive rock clasts was observed between 878.8-879.4m to end of hole and is interpreted to be similar to those observed at the end of in hole TRDD015 and considered to be Devonian aged.

See Figure 6 for examples of the described rock types in TRDD028 and interpreted section for TRDD028 below.

Figure 5: The occurrence of the targeted preserved porphyry intrusive systems from surface to depth in TRDD028 (assay results pending) provides a new nearer surface and potentially open pit target in addition to the ongoing deeper parts of the system at the Trundle Park prospect

Key observations include: the multiple phase, multiple intrusive setting returned in TRDD022 (162m @ 0.24 g/t gold and 0.04% copper, including 18m @ 0.75 g/t gold and 0.09% copper), TRDD026 and TRDD014/W1, endoskarn intersected in TRDD014W1, TRDD028 coupled with returned mineral tenor in TRDD022, TRDD014/W1 and TRDD001 (21.1m @ 0.25 g/t gold and 0.03% copper to EOH), and provides indicators of a proximal environment to the targeted core of an intrusive porphyry system and vectors for follow up drill testing.

A recently commenced hole (TRDD029) is an offset scissor hole stepping out to the west of TRDD028 drilling towards the south-southeast testing for nearer surface porphyry type intrusive potential, and the western and southern strike coverage for both skarn and porphyry mineralization at depth.

The west and south remain open for further follow up drilling within an identified mineralized corridor. The Company is also reviewing previous air-core drilling that have returned shallow intrusions (generally at less than 20m vertical depth from surface), and may warrant infill coverage to assist advance a shallow, open pit intrusive system target.

Figure 6: Examples of the rock types in hole TRDD028 at the Trundle Park prospect

(a) Monzodiorite – Upper interval example from 389m with increasing K-spar (interpreted potassic) alteration (reddening) along quartz-carbonate-pyrite veins (inset photo).

(b) Red monzonite (interpreted potassic alteration) cut by quartz-pyrite veins, then in turn by carbonate veins (inset @ 402.8m).

(c) Basaltic andesite lava host rock with a cavity filled by retrograde skarn comprising green garnet-carbonate-epidote-magnetite-pyrite, minor chalcopyrite and trace bornite (purple).

(d) Monzodiorite (grey-brown) – Lower interval example from 793m with increasing dykes of (interpreted potassic altered) monzonite (red).

Photos of selected intervals which are not representative of the mineralization hosted on the whole property or Trundle Park prospect but are of the alteration and lithology's intersected in the mineralized zones in these sections of drill holes TRDD028, and current working geological interpretation presented in Figure 3. There is insufficient drilling data to date to demonstrate continuity of mineralized domains and determine the relationship between mineralization widths and intercept lengths. True widths are not known.

Trundle Project background
The Trundle Project includes one single license covering 167km2 and was secured by Kincora in the March 2020 agreement with RareX Limited ("REE" on the ASX). Kincora is the operator, holds a 65% interest in the Trundle Project and is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint venture will be formed.

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Table 2: Trundle project - Collar Information

For further details, including QAQC procedures, please refer to the following press releases:

1.

July 6, 2020 - Kincora announces high-grade gold-copper results from first hole at Trundle

2.

July 23, 2020 - Kincora reports further strong encouragement at Trundle

3.

September 3, 2020 - Kincora provides update on expanded drilling program at Trundle

4.

November 30, 2020 - Kincora intersects broad mineralized zones at Trundle

5.

January 20, 2021 - Kincora intersects further shallow mineralization at Trundle

6.

March 2021 - Independent Technical Report for the ASX prospectus

7.

April 22, 2021 - Exploration Update

8.

July 8, 2021 - Exploration portfolio drilling update

9.

August 17 2021 - Significant gold-bearing intervals at Trundle Park

10.

December 2021 - Porphyry system extended to surface and depth at Trundle Park

Table 3: Trundle Park target hole 23 - Significant broad mineralized intervals

Table 4: Trundle Park target hole 26 - Significant broad mineralized intervals

Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.
Internal dilution is below cut off; and, * Dilutions related with Core loss

Drilling, Assaying, Logging and QA/QC Procedures
Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors, using the Company's protocols as per industry best practise.

All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal checks by ALS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all assayed samples.

Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists. All drill core was logged to best industry standard by well-trained geologists and Kincora's drill core sampling protocol consisted a collection of samples over all of the logged core.

Sample interval selection was based on geological controls or mineralization or metre intervals, and/or guidance from the Technical Committee provided subsequent to daily drill and logging reports. Sample intervals are cut by the Company and delivered by the Company direct to ALS.

All reported assay results are performed by ALS and widths reported are drill core lengths. There is insufficient drilling data to date to demonstrate continuity of mineralized domains and determine the relationship between mineralization widths and intercept lengths.

True widths are not known at this stage.

Significant mineralised intervals for drilling at the Trundle project are reported based upon two different cut off grade criteria:

  • Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively; and,

  • Porphyry intrusion system gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.

Significant mineralised intervals are reported with dilution on the basis of:

  • Internal dilution is below the aforementioned respective cut off's; and,

  • Dilutions related with core loss as flagged by a "*".

The following assay techniques have been adopted for drilling at the Trundle project:

  • Gold: Au-AA24 (Fire assay), reported.

  • Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes TRDD002-TRDD022.

  • Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported.

  • Assay results >10g/t gold and/or 1% copper are re-assayed.

Qualified Person
The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement
Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and approved by Mr. Paul Cromie, a Qualified Person under the definition established by JORC and have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), is Exploration Manager Australia for the Company.

Mr. Paul Cromie consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The review and verification process for the information disclosed herein for the Trundle, Fairholme and Nyngan projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.

JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).

Criteria

JORC Code explanation

Commentary

Sampling
techniques

Drilling
techniques

Drill sample
recovery

Logging

Sub-sampling techniques and sample preparation

Quality of assay data and laboratory tests

Verification of sampling and assaying

Location of data points

Data spacing and distribution

Orientation of data in relation to geological structure

Sample security

Audits or reviews

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

Exploration done by other parties

Geology

Drill hole Information

Data aggregation methods

Relationship between mineralisation widths and intercept lengths

Diagrams

Balanced reporting

Other substantive exploration data

Further work

Website: www.kincoracopper.com

SOURCE Kincora Copper Limited

Cision
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