Nyngan Project Drilling Hits Anomalous Copper, Program Expanded to 20 Holes

Expanding the Frontier of Porphyry Exploration

Kincora Copper Limited, in partnership with AngloGold Ashanti Australia Limited, has announced an expansion of its inaugural drilling campaign at the Nyngan porphyry project in New South Wales. This decision follows the completion of six widely spaced scout holes totaling 2,707 meters, which yielded encouraging geological and geochemical results indicative of significant copper-gold mineralization potential within the Macquarie Arc.

The Nyngan project lies within the interpreted undercover extension of the Macquarie Arc, a globally significant porphyry copper-gold belt known for hosting world-class deposits. Kincora’s initial drilling intersected a variety of basement lithologies consistent with Macquarie Arc rocks, with multiple holes exhibiting anomalous copper and pathfinder minerals. Notably, hole NYDD007 encountered porphyry-style quartz veins, multiple intrusive bodies, and significant sulphide mineralization, marking it as a high-priority target for the next phase of exploration.

Strategic Drilling and Geophysical Surveys

Following a summer hiatus, the scout drilling program has resumed with plans to expand up to twenty holes, targeting the South-West and Ace of Spades areas, two key zones defined by coincident aeromagnetic and gravity anomalies. Complementing the drilling, a comprehensive ground gravity survey is underway, covering approximately 400 square kilometers. This survey aims to refine the understanding of subsurface structures and identify potential silicified basement highs that may correlate with high sulphidation gold mineralization associated with porphyry systems.

The integration of drilling results and geophysical data is expected to sharpen vectoring towards mineralized zones, informing a budgeted second phase of step-out drilling. This methodical approach underscores Kincora and AngloGold Ashanti’s commitment to delineating a district-scale porphyry system that could rival some of Australia’s most prolific copper-gold provinces.

Partnership and Project Outlook

The Nyngan and Nevertire projects are being advanced under a multi-phase earn-in and joint venture agreement, whereby AngloGold Ashanti may invest up to A$50 million to earn an 80% interest. Kincora manages the exploration programs and receives a 10% management fee on expenditures. The partnership leverages AngloGold Ashanti’s expertise in greenfields discovery and Kincora’s strategic landholding across the Northern Junee-Narromine Belt, a relatively underexplored segment of the Macquarie Arc.

Beyond Nyngan, preparations are underway to initiate drilling at the Nevertire project, further expanding the exploration footprint. The ongoing work, including petrological, geochronological, and lithogeochemical studies, will provide critical insights into the mineralization controls and guide future drilling campaigns.

Context within Australia’s Porphyry Landscape

The Macquarie Arc hosts over 160 million gold equivalent ounces and multiple world-class mines, making it one of Australia’s foremost porphyry provinces. The undercover extensions, including the Northern Junee-Narromine Belt where Nyngan is situated, remain underexplored yet hold immense discovery potential. Recent earn-in agreements across the region have mobilized over A$300 million in exploration funding, reflecting growing industry confidence in these concealed targets.

Kincora’s early entry and extensive contiguous land position provide a strategic advantage as exploration intensifies. The positive initial drilling results at Nyngan reinforce the prospectivity of these undercover complexes and set the stage for what could be a transformative discovery in the region.