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neW soUth WALes sPotLIGht

More than just nearology

for dual-listed Kincora

fter a March ASX debut, Kincora
ACopper Ltd has made its first moves
as a newly branded dual-listed explorer
with the drill rigs turning at the Fairholme
project in New South Wales.
Fairholme spins a tale as old as time
in the mining game. Many drill rigs have
come and gone over the Fairholme soil,
but Kincora chief executive Sam Spring
believes previous operators were looking
in the wrong places, with the company
continuing to target a gold opportunity
along the same mineralisation as Evolu-
tion Mining Ltd’s nearby Cowal mine.
“Cowal is pretty close, but it’s more
than just nearology,” Spring told Paydirt.
“It’s an advanced exploration project
where the previous groups have focused
more on the deeper porphyry setting.
“What Evolution has done at Cowal
has really shown the higher level in the
porphyry setting in the gold corridor that
they’ve got there, it’s really where you
want to be focusing your assets.”
Kincora’s ASX entry followed a $10 Drilling at the Trundle project in New South Wales last year
million IPO which pumped enough cash
to fund the current drilling programme
and another at its brownfield Trundle pro- strike at or near-surface,” Spring said. been quite fortunate,” he said.
ject to the north. “But the thing that really got our at- “We have increased how much we test
Fairholme’s Gateway target is under- tention is you’re starting to see potas- amongst our team members. It certainly
going 1,700m of diamond drilling across sic alteration that looks quite similar to means people have been taking more
five holes. An additional 39 holes for the cluster of intrusions that you see at preventative measures.”
6,000m are permitted for the future pipe- Northparkes in the same mineralised COVID woes aren’t enough to scare
line. system. Kincora, however, which recently divest-
“This first phase programme is testing “Those targets are a lot larger scale ed Mongolian assets to Resilience Min-
an area where we’ve got known minerali- and what we think is the source of the ing for free-carried interest and a future
sation over a 400m strike and we’re re- extended mineralisation that you see 9.9% stake in the company which plans
ally trying to see if we can get some more near-surface. So, seeing that red potas- to soon list and start drilling.
high-grade intervals,” Spring explained. sic alteration with some copper in it is a “The nice thing about the Mongolian
“I suspect that Fairholme is one of pretty positive sign.” transaction is that it frees up bandwidth
those projects similar to what we’ve got New results from Fairholme and Trun- for us to be solely focused on NSW,”
with ongoing drilling at Trundle where the dle will continue to wait in the halls given Spring said.
first programme will lead into a second it can take up to eight weeks for assay “It’s not often that a junior is drilling in
programme, into the third and so on.” results to be returned from the lab in advanced exploration projects that have
Two rigs are currently turning at Trun- regional NSW. What hasn’t helped has an accumulative total of over 20 moz
dle, building on a programme that began also been the rainy season. gold and more than 4.5mt of copper.
in April last year. So far, 22 holes have “Touch wood we’re able to get some We’re keen to see if we can find the next
been completed for 14,452m, aimed at results out there in the next couple of big discovery in those mineral systems.
testing the near-surface mineralisation months,” Spring said. “As most explorers say, we’re sort of
close to the Northparkes mining com- “We have been slowed down a little bit one hole away from hopefully proving
plex. with the amount of rain up there and the our concept and taking the company to
Results from Trundle earlier this year lab times are pretty slow.” the next stage.”
highlighted hits of 42m @ 0.64% copper Parallel to the rainy season has been – Fraser Palamara
and 0.58 g/t gold from 32m. The latest the spread of COVID-19 through metro-
hole was described as the most dam- politan NSW, but Spring contends Kin-
ming “proof of concept” by the company. cora has been both lucky and vigilant to
“We’ve seen some pretty interesting keep its distance.
intervals and mineralisation over a 500m “The general outer region of NSW has

Page 62 SePTeMBeR 2021 aUSTRaLIa’S PaYDIRT