Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Kincora Copper Limited Capital/Financing Update 2021

May 16, 2021

43337_rns_2021-05-16_c867bf88-99cb-412f-816b-b00cb4a168a6.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [83 x 54] intentionally omitted <==

Kincora commences drilling Nyngan project

  • First pass drill program has commenced at the Nyngan project seeking to test two largescale, early stage porphyry targets and confirm a strategic position in the northern extension of the Macquarie Arc

  • Kincora has been awarded A$120,000 under the New Frontiers Co-Operative Drilling Grants program from the Government of NSW for the drilling program

  • The 100%-owned Nyngan copper gold project covers an area of 762km[2] in a highly prospective geologic terrane with encouraging limited previous explorer drilling and increasing neighbouring drilling activities

Melbourne, Australia — May 17[th] , 2021

Kincora Copper Ltd. (the “Company”, “Kincora”) (ASX & TSXV - KCC) is pleased to have commenced drilling at the Nyngan copper gold project (“Nyngan”). The Nyngan project is located in the interpreted northern undercover and underexplored section of the JuneeNarromine Belt of the Macquarie Arc of the Lachlan Fold Belt in NSW, Australia.

John Holliday, Technical Committee chair, and Peter Leaman, Senior VP of Exploration, commented: “ Success for Kincora’s first pass two-hole program at the Nyngan project will confirm the rocks are Macquarie Arc. The program seeks to test two large porphyry targets in an area that had favourable results in previous drilling 16 years ago and has not been drilled tested since. Kincora’s Nyngan and Nevertire projects cover the interpreted most prospective and shallow to moderate cover of the northern Junee-Narromine Belt.

The Boda discovery by Alkane provides proof of concept, confirming the underexplored northern extension of the parallel Molong belt. Successful drill testing of Nyngan, or by other groups currently undertaking undercover drilling in the Junee-Narromine belt, will significantly enhance the wider prospectivity of this underexplored section of the belt.

Kincora’s drilling activities remain ongoing at the Trundle project with preparations to commence drilling at the Fairholme gold project once the program at Nyngan is concluded.”

Co-Operative funding

The Company was awarded A$120,000 in the third round of the New Frontiers Co-Operative Drilling Grants program from the Government of NSW for drilling at the Nyngan project. The grant monies are non-dilutionary and will fund direct drilling costs on a matched dollar-fordollar basis.

The NSW Government has only just announced a fourth round of the New Frontiers Cooperative Drilling grants program, which will shortly open for applications. Kincora intends to apply for both its Nyngan and Jemalong projects.

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

Nyngan project background

Kincora secured the Nyngan project via direct application from the NSW Government. The application area was selected based on its stratigraphic-structural setting and favourable results from the last drilling program by Newcrest Mining Limited in 2005 that were not followed up. Four holes were completed in the last drilling program. Three of these intersected basement at depths between 255 metres to 322 metres. Drill hole ACDNY002 recorded bornitechalcopyrite-chalcocite-pyrite mineralisation associated with strong hematite alteration in clasts of volcaniclastic conglomerate that the ongoing Kincora program is looking to follow up.

Figure 1: Key Lachlan Fold Belt players and junior explorers Central West, New South Wales, Australia

==> picture [466 x 315] intentionally omitted <==

Exploration approach

The first-phase drilling program at Nyngan is using cost-effective mud-rotary drilling to cut through the unmineralised post-mineral sedimentary cover, then will transition to diamond core drilling upon refusal or once basement is reached. Petrologic, lithogeochemcial, green rock analysis and age dating will be carried out as appropriate in addition to traditional assay suites to assist with vectoring, follow-up exploration and confirmation of the targeted Macquarie Arc terrane. This is a proven exploration strategy in the covered segments of the Macquarie Arc having been directly responsible for the Northparkes and Cowal discoveries, and currently also being applied in various other undercover sections of the Junee-Narromine belt by FMG and Inflection Resources’ – refer to wider and immediate regional license holdings in Figures 1 & 2.

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

The Junee-Narromine Belt is considered highly prospective for large gold-copper porphyry deposits and/or epithermal gold deposits and hosts the CMOC Northparkes deposits, Evolution Mining’s Cowal deposits, Alkane’s Tomingley gold mine and Kincora’s Trundle project, where drilling commenced in April 2020 and remains ongoing.

An exploration strategy video focused on Nyngan, that outlines scale of targets and the Company’s systematic exploration approach, is available at www.kincoracopper.com and https://youtu.be/ePk4Hl5Tdgk .

Figure 2: Recent regional land grab and increasing drilling activities

The underexplored and undercover extension of the northern Junee-Narromine belt potentially covers the largest intrusive centre of the Macquarie Arc and with a jog and structural grain parallel to the Lachlan Transverse Zone, possibly indicating a locus for porphyry formation

==> picture [301 x 452] intentionally omitted <==

License holdings sourced from MinView over public file regional magnetics and prior drilling. “Inflection targets” sourced from: * Refer to Inflection Resources press release February 1[st] , 2021 “Drilling Update From Northern New South Wales”

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

Figure 3: Drill hole ACDNY002 recorded bornite-chalcopyrite-chalcocite-pyrite mineralization associated with strong hematite alteration in clasts and volcaniclastic conglomerate. No drilling has intersected basement in the license area since this last program of Newcrest’s.

Section of two-hole drilling program relative to previous drill results in the Nyngan Volcanic Complex

==> picture [466 x 161] intentionally omitted <==

Kincora Nyngan project license boundary over magnetics with prior deeper drill holes and planned holes (PNYD001 & 002)

Figure 4: Kincora project drilling timelines and upcoming catalysts

One rig remains operational at the Trundle project with another mobilised to the Nyngan project ahead of the commencement of a drilling program at the Fairholme project

==> picture [466 x 143] intentionally omitted <==

* Refer to Sultan Resources press release April 29[th] , 2021 “Big Hill IP results define ‘classic’ East Lachlan porphyry Au-Cu priority drill target”

For further information please contact:

Sam Spring, President and Chief Executive Officer

[email protected] or +61431 329 345

For media enquiries:

Media & Capital Partners Angela East [email protected]

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

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

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.

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 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. 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 Nyngan project has 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.

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

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

Nature and quality of sampling (e.g.
cut channels, random chips, or
specific specialised industry standard
measurement tools appropriate to the
minerals under investigation, such as
down hole gamma sondes, or
handheld XRF instruments, etc.).
These examples should not be taken as
limiting the broad meaning of
sampling.

Include reference to measures taken
to ensure sample representivity and
the appropriate calibration of any
measurement tools or systems used.

Aspects of the determination of
mineralisation that are Material to
the Public Report.

In cases where ‘industry standard’
work has been done this would be
relatively simple (e.g. ‘reverse
circulation drilling was used to obtain
1 m samples from which 3 kg was
pulverised to produce a 30 g charge
for fire assay’). In other cases more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralisation types
(eg submarine nodules) may warrant
disclosure of detailed information

Kincora Copper Limited is the operator of the
Nyngan Project, with drilling using diamond coring
methods by DrillIt Consulting Pty Ltd, from which
sub-samples were taken over 2 m intervals and
pulverised to produce suitable aliquots for fire assay
and ICP-MS.

Diamond drilling was used to obtain orientated
samples from the ground, which was then
structurally, geotechnically and geologically logged

Sample interval selection was based on geological
controls and mineralization

Sampling was completed to industry standards with
1⁄4 core for PQ and HQ diameter diamond core and
1⁄2 core for NQ diameter diamond core sent to the
lab for each sample interval

Samples were assayed via the following methods:
- Gold: Au-AA24 (Fire assay)
- 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)
- 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

Historic sampling on other projects included soils,
rock chips and drilling (aircore, RC and diamond
core).
Drilling
techniques

Drill type (e.g. core, reverse
circulation, open-hole hammer,
rotary air blast, auger, Bangka,
sonic, etc) and details (e.g. core
diameter, triple or standard tube,
depth of diamond tails, face-sampling
bit or other type, whether core is
oriented and if so, by what method,
etc.).

Drilling by Kincora at Nyngan used mud-rotary in
the cover sequence rocks and diamond core drilling
in the basement rocks with PQ, HQ and NQ
diameter core depending on drilling depth.

All Kincora core was oriented using a Reflex ACE
electronic tool

Historic drilling on Kincora projects used a variety
of methods including aircore, reverse circulation,
and diamond core.
Drill sample
recovery

Method of recording and assessing
core and chip sample recoveries and
results assessed.

Measures taken to maximise sample
recovery and ensure representative
nature of the samples.

Whether a relationship exists between
sample recovery and grade and
whether sample bias may have
occurred due to preferential loss/gain
of fine/coarse material.

Drill Core recovery was logged.

Diamond drill core recoveries are contained in the
body of the announcement.

Core recoveries were recorded by measuring the
total length of recovered core expressed as a
proportion of the drilled run length.


Poor recovery zones are generally associated with
later fault zones and the upper oxidised parts of
drill holes.

There is no relationship between core recoveries
and grades.
Logging
Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource
estimation, mining studies and
metallurgical studies.

Whether logging is qualitative or
quantitative in nature. Core (or
costean, channel, etc.) photography.

The total length and percentage of the
relevant intersections logged.

All Kincora holes are geologically logged for their
entire length including lithology, alteration,
mineralisation (sulphides and oxides), veining and
structure.

Logging is mostly qualitative in nature, with some
visual estimation of mineral proportions that is
semi-quantitative. Measurements are taken on
structures where core is orientated.

All core is photographed.

Historic drilling was logged with logging mostly
recorded onpaper in reports lodged with the NSW

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

Department of Mines.
Sub-
sampling
techniques
and sample
preparation

If core, whether cut or sawn and
whether quarter, half or all core
taken.

If non-core, whether riffled, tube
sampled, rotary split, etc. and
whether sampled wet or dry.

For all sample types, the nature,
quality and appropriateness of the
sample preparation technique.

Quality control procedures adopted
for all sub-sampling stages to
maximise representivity of samples.

Measures taken to ensure that the
sampling is representative of the in
situ material collected, including for
instance results for field
duplicate/second-half sampling.

Whether sample sizes are appropriate
to the grain size of the material being
sampled.

Once all geological information was extracted from
the drill core, the sample intervals were cut with an
Almonte automatic core saw, bagged and delivered
to the laboratory.

This is an appropriate sampling technique for this
style of mineralization and is the industry standard
for sampling of diamond drill core.

PQ and HQ sub-samples were quarter core and NQ
half core.

Sample sizes are considered appropriate for the
disseminated, generally fine-grained nature of
mineralisation being sampled.

No duplicate samples were taken.
Quality of
assay data
and
laboratory
tests

The nature, quality and
appropriateness of the assaying and
laboratory procedures used and
whether the technique is considered
partial or total.

For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make
and model, reading times,
calibrations factors applied and their
derivation, etc.

Nature of quality control procedures
adopted (e.g. standards, blanks,
duplicates, external laboratory
checks) and whether acceptable levels
of accuracy (ie lack of bias) and
precision have been established.

Gold was determined by fire assay and a suite of
other elements including Cu and Mo by 4-acid
digest with ICP-AES finish at ALS laboratories in
Orange. Over-grade Cu (>1%) was diluted and re-
assayed by AAS.

Techniques are considered total for all elements.
Native copper mineralisation is usually re-assayed
to check for any effects of incomplete digestion and
no issues were found.

For all holes every 20thsample was either a
commercially supplied pulp standard or pulp blank.

Results for blanks and standards are checked upon
receipt of assay certificates. All standards have
reported within certified limits of accuracy and
precision.

Historic assays on other projects were mostly gold
by fire assay and other elements by ICP.
Verification
of sampling
and assaying

The verification of significant
intersections by either independent or
alternative company personnel.

The use of twinned holes.

Documentation of primary data, data
entry procedures, data verification,
data storage (physical and electronic)
protocols.

Discuss any adjustment to assay data.

Significant intercepts were calculated by Kincora’s
geological staff.

No twinned holes have been completed

The
intercepts
have
not
been
verified
by
independent personal.

Logging data is captured digitally on electronic
logging tablets and sampling data is captured on
paper logs and transcribed to an electronic format
into a relational database maintained at Kincora’s
Mongolian office. Transcribed data is verified by the
logging geologist.

Assay data is received from the laboratory in
electronic format and uploaded to the master
database.

No adjustments to assay data have been made

Outstanding assays are outlined in the body of the
announcement.
Location of
data points

Accuracy and quality of surveys used
to locate drill holes (collar and down-
hole surveys), trenches, mine
workings and other locations used in
Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic
control.

Collar positions are set up using a hand-held GPS
and later picked up with a DGPS to less than 10cm
horizontal and vertical accuracy.

Drillholes are surveyed downhole every 30m using
an electronic multi-shot magnetic instrument and
when drillholes terminated multi-shots were taken
every 6m intervals.

Due to the presence of magnetite in some alteration
zones, azimuth readings are occasionally unreliable
and magnetic intensity data from the survey tool is
used to identifythese readings and flagthem as

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

such in the database.

Grid system used is the Map Grid of Australia Zone
55, GDA 94 datum.

Topography in the area of Nyngan is near-flat and
drill collar elevations provide adequate control
Data spacing
and
distribution

Data spacing for reporting of
Exploration Results.

Whether the data spacing and
distribution is sufficient to establish
the degree of geological and grade
continuity appropriate for the
Mineral Resource and Ore Reserve
estimation procedure(s) and
classifications applied.

Whether sample compositing has
been applied.

Kincora drilling at Nyngan is at an early stage, with
drill
holes
stepping
out
from
previous
mineralisation intercepts at various distances.

Data spacing at this stage is insufficient to establish
the continuity required for a Mineral Resource
estimate.

No sample compositing was applied to Kincora
drilling.

Historic drilling on Nyngan and other projects was
completed at various drill hole spacings and no
other projects have spacing sufficient to establish a
mineral resource.
Orientation
of data in
relation to
geological
structure

Whether the orientation of sampling
achieves unbiased sampling of
possible structures and the extent to
which this is known, considering the
deposit type.

If the relationship between the
drilling orientation and the
orientation of key mineralised
structures is considered to have
introduced a sampling bias, this
should be assessed and reported if
material.

At this stage of drilling the orientation of Kincora
drilling at Nyngan has not determined yet.

The angled drill holes were directed as best possible
across the known lithological and interpreted
mineralized structures.

There does not appear to be a sampling bias
introduced by hole orientation in that drilling not
parallel to mineralised structures.
Sample
security

The measures taken to ensure sample
security.

Kincora staff or their contractors oversaw all stages
of drill core sampling. Bagged samples were placed
inside polyweave sacks that were zip-tied, stored in
a locked container and then transported to the
laboratory by Kincora field personnel.
Audits or
reviews

The results of any audits or reviews of
sampling techniques and data.
Mining Associates has completed an review of
sampling techniques and procedures at Trundle
dated January 31st, 2021, as outlined in the
Independent Technical Report included in the ASX
listing prospectus, which is available at:
https://www.kincoracopper.com/investors/asx-
prospectus

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

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

Type, reference name/number,
location and ownership
including agreements or
material issues with third
parties such as joint ventures,
partnerships, overriding
royalties, native title interests,
historical sites, wilderness or
national park and
environmental settings.

The security of the tenure held
at the time of reporting along
with any known impediments to
obtaining a licence to operate in
the area.

Kincora holds two exploration licences in NSW and
rights to a further six exploration licences through an
agreement with RareX Limited (RareX).

EL8222, EL6552, EL6915, EL8960, EL6661 and
EL7748 are in a JV with RareX where Kincora has a
65% interest in the respective 6 licenses and is the
operator /sole funder of all further exploration until a
positive
scoping
study
or
preliminary
economic
assessment ("PEA") on a project by project basis. Upon
completion of PEA, a joint venture will be formed with
standard funding/dilution and right of first refusal on
transfers.

EL8502, EL8929 are wholly owned by Kincora.

All licences are in good standing and there are no
known impediments to obtaining a licence to operate.
Exploration
done by other
parties

Acknowledgment and appraisal
of exploration by other parties.

All Kincora projects have had previous exploration work
undertaken.
The review and verification process for the information
disclosed herein and of other parties for the Nyngan
project has 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. Further details of exploration efforts and
data of other parties are providing in the March 1st,
2021, Independent Technical Report included in the
ASX listing prospectus, which is available at:
https://www.kincoracopper.com/investors/asx-
prospectus
Geology
Deposit type, geological setting
and style of mineralisation.

All projects are within the Macquarie Arc, part of the
Lachlan Orogen.

Rocks comprise successions of volcano-sedimentary
rocks of Ordovician age intruded by suites of subduction
arc-related intermediate to felsic intrusions of late
Ordovician to early Silurian age.

Kincora is exploring for porphyry-style copper and gold
mineralisation, copper-gold skarn plus related high
sulphidation and epithermal gold systems.
Drill hole
Information

A summary of all information
material to the understanding
of the exploration results
including a tabulation of the
following information for all
Material drill holes:

easting and northing of the drill
hole collar

elevation or RL (Reduced Level
– elevation above sea level in
metres) of the drill hole collar

dip and azimuth of the hole

down hole length and
interception depth

hole length.

If the exclusion of this
information is justified on the
basis that the information is not
Material and this exclusion does
not detract from the
understanding of the report, the
Competent Person should
clearly explain why this is the
case.

Detailed information on Kincora’s drilling at Nyngan is
given in the body of the report.
Data
In reporting Exploration
Results, weighting averaging

For Kincora drilling at Nyngan the following methods
were used:

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

aggregation
methods
techniques, maximum and/or
minimum grade truncations
(e.g. cutting of high grades) and
cut-off grades are usually
Material and should be stated.

Where aggregate intercepts
incorporate short lengths of
high grade results and longer
lengths of low grade results, the
procedure used for such
aggregation should be stated
and some typical examples of
such aggregations should be
shown in detail.

The assumptions used for any
reporting of metal equivalent
values should be clearly stated.

Interpreted near-surface skarn gold-copper intercepts
were aggregated using a cut-off grade of 0.20 g/t Au and
0.10% Cu respectively.

Porphyry gold-copper intercepts were aggregated using
a
cut-off
grade
of
0.10 g/t Au
and
0.05% Cu
respectively.

Internal dilution below cut off included was generally
less than 25% of the total reported intersection length.

Core loss was included as dilution at zero values.

Average gold and copper grades calculated as averages
weighted to sample lengths.

Historic drilling results in other project areas are
reported at different cut-off grades depending on the
nature of mineralisation.
Relationship
between
mineralisation
widths and
intercept
lengths

These relationships are
particularly important in the
reporting of Exploration
Results.

If the geometry of the
mineralisation with respect to
the drill hole angle is known, its
nature should be reported.

If it is not known and only the
down hole lengths are reported,
there should be a clear
statement to this effect (eg
‘down hole length, true width
not known’).

Due to the uncertainty of mineralisation orientation, the
true width of mineralisation is not known at Nyngan.

Intercepts from historic drilling reported at other
projects are also of unknown true width.
Diagrams
Appropriate maps and sections
(with scales) and tabulations of
intercepts should be included
for any significant discovery
being reported These should
include, but not be limited to a
plan view of drill hole collar
locations and appropriate
sectional views.

Relevant diagrams are included in the body of the
report.
Balanced
reporting

Where comprehensive reporting
of all Exploration Results is not
practicable, representative
reporting of both low and high
grades and/or widths should be
practiced to avoid misleading
reporting of Exploration
Results.

Intercepts reported for Kincora’s drilling at Nyngan are
zones of higher grade within unmineralized or weakly
anomalous material.
Other
substantive
exploration
data

Other exploration data, if
meaningful and material,
should be reported including
(but not limited to): geological
observations; geophysical
survey results; geochemical
survey results; bulk samples –
size and method of treatment;
metallurgical test results; bulk
density, groundwater,
geotechnical and rock
characteristics; potential
deleterious or contaminating
substances.

No other exploration data is considered material to the
reporting of results at Nyngan. Other data of interest to
further exploration targeting is included in the body of
the report.

Historic exploration data coverage and results are
included in the body of the report for Kincora’s other
projects.
Further work
The nature and scale of planned
further work (e.g. tests for
lateral extensions or depth
extensions or large-scale step-
out drilling).

Diagrams clearly highlighting
the areas of possible extensions,

Drilling at the Nyngan is ongoing at the time of
publication of this report and plans for further step-out
drilling are in place. Further drilling is proposed to
following recent results at the Nyngan target and the
Company plans to drill other Nyngan project areas that
have
complementary
but
insufficiently
tested
geochemistry and geophysical targets with the aim to
find:(a)and expand near surface copper-gold skarn

Kincora Copper Limited www.kincoracopper.com

[email protected]

==> picture [83 x 54] intentionally omitted <==

including the main geological mineralization overlying or adjacent to (b) underlying interpretations and future copper-gold porphyry systems. drilling areas, provided this information is not commercially sensitive.

Kincora Copper Limited www.kincoracopper.com

[email protected]