How Kincora’s Expanded Drilling Could Unlock NSW’s Hidden Copper-Gold Belt

Expanding the Frontier of Porphyry Exploration

Kincora Copper Limited has announced a significant expansion of its drilling activities in the Northern Junee-Narromine Belt (NJNB) of New South Wales, Australia. Partnering with AngloGold Ashanti Australia Limited, the company is advancing its exploration of the Nyngan porphyry project and adjacent targets, aiming to unlock the potential of one of the Macquarie Arc’s largest under-explored volcanic-intrusive complexes.

The current drilling program at Nyngan has already completed fifteen wide-spaced scout holes totaling over 6,197 metres, with an additional four holes planned as the program continues. These efforts follow encouraging geological observations and anomalous copper and pathfinder mineral occurrences that hint at the presence of porphyry copper and epithermal gold mineralization. The recent ground gravity survey has been instrumental in identifying new targets, prompting the program’s expansion for a second time.

Strategic Partnership and Program Management

Under a multi-phase earn-in and joint venture agreement, AngloGold Ashanti holds the right to invest up to A$100 million across five projects within Kincora’s NJNB portfolio, which spans a continuous strike length exceeding 100 kilometres. This partnership not only brings substantial financial backing but also leverages AngloGold Ashanti’s expertise in greenfields exploration, enhancing target generation and drilling effectiveness.

Kincora retains operational control of the drilling programs and benefits from a 10% management fee on expenditures, providing a steady revenue stream as exploration advances. The collaborative approach has already yielded new insights, with the gravity survey directly leading to the identification of fresh drill targets at both the Ace of Spades and Gerar complexes.

Transitioning to Nevertire and Nevertire South

Following the expanded second earn-in agreement signed in April 2025, drilling is set to transition from Nyngan to the Nevertire and Nevertire South projects. These areas cover the Nevertire Magmatic Complex, a highly prospective porphyry target with promising prior drill results from Newcrest Mining, including anomalous copper-gold mineralization and geochemical signatures indicative of a fertile system.

The upcoming drilling phase will include step-out holes designed to establish vectoring patterns toward a potential porphyry deposit. This methodical approach aims to build on historical data and refine the search for economically viable mineralization zones. After completing an estimated seven holes at Nevertire and Nevertire South, the rig is expected to return to Nyngan for a second phase of step-out drilling, extending exploration well into late 2025.

Context within the Macquarie Arc and Broader Exploration Landscape

The Northern Junee-Narromine Belt represents a largely concealed extension of the Macquarie Arc, a prolific porphyry copper-gold belt hosting over 160 million ounces of gold equivalent in known resources. Despite its scale and potential, this northern segment has seen limited prior drilling due to post-mineral cover, making Kincora’s early and expanded exploration efforts particularly significant.

Complementing traditional geophysical methods, Kincora has incorporated innovative techniques such as Ambient Noise Tomography and detailed gravity surveys, enhancing the resolution of subsurface targets. These advances, combined with AngloGold Ashanti’s investment and operational support, position the NJNB as a compelling frontier for new discoveries in Australia’s copper-gold sector.

Looking Ahead

As Kincora and AngloGold Ashanti progress through their expanded drilling campaigns, the market will be watching closely for assay results and geological interpretations that could validate the district-scale potential of these projects. The company’s strategy of phased drilling, supported by robust geophysical data and a strong partnership framework, aims to systematically de-risk and delineate targets that could underpin future resource development.