Kincora Copper (ASX:KCC) and partner AngloGold Ashanti (NYSE:AU) will shortly begin a maiden drilling program over the northern part of the Nyngan Project in New South Wales.
The six-to-eight hole, 4,000-to-5,000m program is testing the “district-scale” potential in the “Ace of Spades” region, where eight large intrusive complex targets have been identified and are to be drilled for the first time.
It is the first copper-gold focused drilling to be undertaken in the area.
Kincora CEO Sam Spring says recent planning and targeting activities has significantly expanded the number of targets at the Nyngan Project.
“We are very excited by the potential of the Northern Junee-Narromine belt where we are seeking not to just confirm a new significant porphyry copper-gold deposit but a new district and series of discoveries,” he says.
“The strategic appeal and value of a new porphyry district has been clearly illustrated in the Vicuña district, with corporate activities by BHP and Lundin Mining this month supporting over C$8 billion ($8.80 billion) of value being recognised for a cluster of four new major discoveries.”
However, the Vicuña district lies in the central Andes in Argentina on the border of Chile and sits at an altitude of 4,000 to 5,000m, which presents challenges for explorers.
The Macquarie Arc in New South Wales, which does not face these same challenges, has attracted four earn-in and joint venture agreements in the last 12 months, supporting potentially over $200 million in exploration and development expenditure.
the central west of NSW benefits from multiple major mines, existing infrastructure, publicly available exploration data and an existing mineral endowment of over 160 million gold equivalent ounces.
kincora notes that regional geophysics strongly indicate that its Nyngan licence hosts the “largest volcano-intrusive complex of the Macquarie Arc”, which is almost untested, offering new district-scale potential.
The drill targets include an existing high-priority large intrusive complex target currently the focus of Fleet Space Technologies’ ongoing ambient noise tomography and gravity geophysical surveys within the northern portion of the project.
These surveys, which Kincora says are progressing well, are expected to complement the planned drilling program.
“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,” Spring says.
In late June, Inflection Resources (CSE:AUCU) announced that the outcome of first-pass scout drilling over the Canonba target, which shares a boundary with Kincora’s Nyngan Project, is suggestive of a porphyry proximal environment.
Canonba is located about 5km north of Inflection’s Duck Creek Project, where the company says it has intersected strong porphyry-style alteration and geochemistry over several square kilometres.
Kincora says the Canonba, Duck Creek and Ace of Spades target areas potentially host important common transverse structures providing further encouragement about the potential of a new porphyry district-scale opportunity.
The upcoming exploration program will comprise mud-rotary drilling through the post mineral cover sequence followed by diamond core drilling to test the targeted basement.
AngloGold is funding the drilling program, while Kincora will manage it in exchange for a 10% management fee.
The program is the first by Kincora in partnership with AngloGold, which can earn up to an 80% interest in the Nyngan and Nevertire projects by spending up to $50 million.
Write to Angela East at Mining.com.au
Images: Kincora Copper
