Kincora Copper secures option over 1,147km² Australian project
Pontos principais
- Kincora Copper has executed an exclusive option agreement with Lightning Minerals to acquire up to a 100% interest in six exploration licences covering 1,147km2 in Australia's Lachlan Fold Belt.
- Shares of Kincora Copper were unchanged following the market release.
- The agreement aims to advance near-term drilling and scale up early-stage copper-gold assets before seeking an asset-level partner.
Kincora Copper (ASX:KCC) has executed an exclusive option agreement with Lightning Minerals (ASX:L1M) to acquire up to a 100% interest in six early-stage copper-gold exploration licences spanning 1,147km2 in the Lachlan Fold Belt.
The assets include the Boree Creek Project, featuring an outcropping porphyry copper-gold target, and the Corryong Project, targeting multi-reef Victorian gold.
"The agreement increases the scale of Kincora's hybrid prospect generator model and is a unique opportunity that we are very excited to drill in the nearer term," said Kincora Copper President & CEO Sam Spring.
Planned near-term drilling at the Dairy Hill prospect will attempt to validate and extend a historical 1994 RC drilling interval of 48m at 0.35% copper and 0.31g/t gold from a depth of 96m.
The company stated that the low-cost exploration framework will confirm geological concepts and enhance asset scale prior to introducing a project-level partner.
Following the announcement, the Kincora Copper share price was unchanged at $0.93.
The surrounding region hosts major deposits, including the Copper Hill mineral resource of 190 million tonnes containing 0.52 million tonnes of copper and 1.72 million ounces of gold, located 20km north along the Columbine Mountain Fault.
Kincora Copper operates as an exploration-stage business utilising a hybrid project generator model to systematically evaluate high-potential copper and gold assets across Australia.
