Kincora Copper (ASX:KCC) has confirmed a “regionally significant” high-priority porphyry target at its Nyngan Project in New South Wales following initial interpretations from geophysical surveys.
The new target is located within the ‘Ace of Spades’ section of the Nyngan Project which sits in the Northern Junee-Narromine Belt of the Macquarie Arc.
The confirmation follows the completion of ambient noise tomography (ANT) and gravity geophysical surveys by Fleet Space Technologies, which recently extended its partnership and became a strategic investor in Kincora.
Kincora CEO Sam Spring says Ace of Spades is a “very compelling new district-scale opportunity, potentially the largest volcano-intrusive complex” of the Macquarie Arc, and has never been drilled.
“The geophysical surveys are being conducted in partnership with Fleet Space and include the first ever integration of gravity with a real-time ANT survey completed by Fleet Space,” Spring says.
“The initial results from the Fleet Space surveys – coupled with existing regional geophysics – are positive, providing a more detailed and refined geophysical model for an existing high-priority and large-scale target that is about to be drilled within the Ace of Spades region.”
The regional ANT survey covered an area of about 35km2 with a tighter spaced infill and ground gravity survey area of about 9km2.
Similar to other Fleet Space surveys in the district, the ANT velocity model provides a depth profile to around 2,500m, and 1,000m in the infill survey.
The initial interpretation of the Nyngan multiphysics results have confirmed and refined an existing high-priority drill target with several features of interest at both a regional and infill survey level having potential implications for future exploration.
The regional ANT survey identified multiple deep-seated structures consistent with existing magnetics and gravity features, and supports the potential for multiple volcanic and intrusive complexes. It also highlighted a number of potential new areas of interest.
Meanwhile, the infill ANT and gravity survey provided higher resolution of interpreted structures and supported the potential for multiple intrusive stocks and additional drill hole targets.
The results confirm and refine an existing high-priority drill target with the originally proposed drill hole collar moved about 400m.
The first ever copper-gold focused drilling program is now underway within the northern portion of the Nyngan Project to test the district-scale porphyry potential.
Kincora says the new potential areas of interest will be reviewed in light of the results of the current drilling program in conjunction with partner AngloGold Ashanti (NYSE:AU), which can earn up to an 80% stake in the Nyngan and Nevertire licences by spending up to $50 million.
Six to eight drill holes for an estimated 4,000 to 5,000m are slated for completion before the end of the year.
Two existing targets uncovered in the 2024 field season were covered by the Fleet Space surveys and will be among the targets shortly tested in the current drilling program.
“This program will drill a range of large-scale and separate intrusive system targets, focused on the Ace of Spades, within an existing pipeline of 16 targets that are permitted for drilling within the northern portion of the Nyngan Project,” Spring explains.
The aim for Kincora and AngloGold is to uncover the next Cadia, which has a footprint spanning around 5.7km and hosts seven deposits.
“What we are seeking to confirm in our first phase of drilling at Nyngan is the potential for multiple new Macquarie Arc intrusive system complexes that have similar multi-kilometre alteration zones and multiple deposit potential,” Spring says.
The Macquarie Arc, in the central west of NSW, hosts multiple major mines, and has existing infrastructure, publicly available exploration data and an existing mineral endowment of over 160 million gold equivalent ounces.
Write to Angela East at Mining.com.au
Images: Kincora Copper
