Kincora Copper (ASX:KCC) says an airborne electromagnetic (AEM) survey covering 155km2 has been mobilised at the Condobolin Project in the southern Cobar Basin, New South Wales.
The survey will focus on near-surface targets and seeks to refine existing mineralised systems located under shallow post mineral cover, as well as refine potent deeper source feeder zones.
These include the Meritilga target, which Kincora notes preparations have started for high-impact drilling to test the down dip on strike extensions of the existing system, which hosts broad near-surface gold-silver-base metal mineralisation with ore grade intervals including 4m at 20g/t gold and 30.2g/t silver from 75m.
Amid surging Australian gold and silver prices, Kincora is also reviewing historical drilling results within a paleochannel system at Meritilga, including up to 28.4g/t gold in gravels from 4m and 3.99g/t gold in basement from 28m.
Kincora Copper VP of Exploration Peter Leaman says Kincora has a well-planned strategy to explore the extensions of the Condobolin Mineral Field, “which has a substantial mining history for high-grade gold, silver, and base metals”.
Silver’s spot price has today (14 October) jumped more than 3% to above US$52.35 ($80.55) per ounce, hitting a new record, as US-China trade concerns grow and expectations of further US rate cuts fuel demand, as reported by Mining.com.au.
Kincora’s Technical committee chair John Holliday notes the renewed focus on Condobolin reflects both improved metal prices and a growing recognition of the district’s exploration upside.
Holliday adds that the project is located near existing infrastructure and is easy to explore given its shallow weathering profile.
The Condobolin project covers 297km2 across two granted licences and one pending application. It lies within close proximity to Kingston Resources’ (ASX:KSN) Mineral Hill mine.
The company’s multi-phase exploration plan is fully funded after it completed a C$4 million ($4.37 million) private placement in July 2025. The capital raise was to support “high-impact, capital-efficient exploration” at its core New South Wales and Lachlan Fold Belt assets.
That equity raise caught the attention of renowned North American investors Rick Rule and Jeff Phillips who took part.
At the time, Rule noted Kincora follows the prospect generator business model, “using business and technical acumen to develop and stake large exploration concepts, which they joint venture to others, obviating the capital risk of exploration, and reducing equity dilution”.
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Images: Kincora
