Transcription of The Stock Network Interview with Kincora Copper (ASX:KCC, TSXV:KCC) President and CEO, Sam Spring
Lel Smits: Kincora Copper is ramping up drilling in partnership with Anglo Gold Ashanti, seeking to prove up a new province-scale opportunity and the extension of the world-class Macquarie Arc for free belt in New South Wales. The company has now revealed positive drilling results from the Ningan and Nevertime South projects supporting these bold ambitions. Kincora President and CEO Sam Spring joins me to provide an update on the company’s ongoing exploration drilling.
Sam, welcome back to the Stock Network.
Sam Spring: Thank you, Lel, for having me.
Lel Smits: Now, Kincora is accelerating its exploration drilling across multiple projects in the northern extension of the Macquarie Arc. Can you provide an overview of the potential of this region and also the relationship you have in place with Anglo Gold Ashanti?
Sam Spring: Yeah, well, we’re looking for an extension of the Macquarie Arc. Macquarie Arc’s Australia’s leading porphyry belt, a truly world-class region with a number of big mines. And up to the north, there’s a shallow cover, moderate cover, and we’re exploring that extension.
You’ve got 160 million ounce gold equivalent resource inventory to the south. What we’re looking for is potentially the largest part of the Macquarie Arc to the north. And we’re doing that in partnership with Anglo Gold Ashanti via two earn-in deals where they can earn in, having spent up to $100 million, testing 100-kilometre strike.
So it’s really looking at a new province-scale opportunity and having a big partner to help unlock that.
Lel Smits: Absolutely. Now, Sam, you commenced drilling at Ningen late last year and have since expanded the campaign multiple times, driven by positive results. What have you learned from the drilling so far? And also, what are the next steps here?
Sam Spring: Yeah, Ningen’s a big licence. And there’s two big intrusive complexes that we’re testing there. One’s sort of 16 by 18 kilometres, another’s 7 by 16 kilometres.
So this area is very explored, underexplored. What we’ve done is initial scout drilling program, getting basement rocks. We’ve drilled 19 holes, over 7,300 metres, and has provided proof of concept that this looks to be the extension of the Macquarie Arc like we thought it would be and hoped it would be.
And now we’re analysing that data to come in with the next phase drilling campaign. So as a first pass, we’re very pleased with how that program’s undertaken.
Lel Smits: Excellent and finally, the first drilling has now commenced at the consolidated Nevertine and Nevertire South projects, following up on two historical holes drilled by Newcrest Mining across an 8-kilometre strike length. What has this drilling taught you about the geological potential of the project?
Sam Spring: It’s very early days. Well, we’ve just started our first drilling campaign at Nevertire South, and we’re very excited by the results. It’s clearly shown we’re in the right rocks. It’s a very big system. It’s got the right alteration, the right mineralisation.
We’re already looking at geophysics to help refine that search space. And it really has reaffirmed our conviction that we think the Nevertire South, Nevertire Consolidated licence is the most advanced and geologically prospective target in the undercover extensions of the Macquarie Arc held by anyone. So we’re very pleased by these results.
And as part of this partnership with Anglo Gold, we’re looking at this year drilling three of the five projects that are included in these two earn-in deals. So having that partner there to be able to give these projects the dollars and the metres that they need is a huge benefit. And we’re the operator and receiving a management fee as we undertake these programs.
Lel Smits: Absolutely. Well, Sam, thank you for the update from Kincora Copper. Congratulations on the milestones today and look forward to following the news that’s coming up.
Sam Spring: Thank you, Lel.
Ends