NSW Awards Kincora $143,483 for Critical Drilling at Wongarbon Porphyry

Strategic Grant Boosts Wongarbon Exploration

Kincora Copper Limited has secured a A$143,483 co-funding grant from the New South Wales State Government to support drilling activities at its Wongarbon project. This funding, awarded through the Critical Minerals and High-Tech Metals Exploration Program, represents a significant endorsement of Kincora’s efforts to explore one of the few large, untested intrusive complexes within the Macquarie Arc.

The Wongarbon project is strategically located within a key transverse structure that also hosts recent major discoveries such as the 14.7 million ounce gold equivalent Boda and Kaiser porphyry deposits. This positions Wongarbon as a highly prospective target in one of Australia’s foremost copper-gold regions.

Non-Dilutive, Matched Funding Encourages Exploration

The grant is non-dilutive and requires Kincora to match the funds dollar-for-dollar, effectively doubling the investment into drilling. This financial support comes amid a competitive selection process overseen by an expert panel, underscoring the technical merit and potential value of Kincora’s exploration program.

CEO Sam Spring highlighted the importance of this support, noting that the grant enables Kincora to commence maiden drilling targeting basement geology, a critical step in validating the project’s mineral potential. The company has also partnered with Fleet Space Technologies to apply cutting-edge multiphysics techniques, reflecting a modern approach to exploration.

NSW’s Critical Minerals Strategy Aligns with Global Demand

The grant is part of the NSW Government’s broader Critical Minerals Strategy 2024-35, which aims to position the state as a global leader in critical minerals exploration and production. With copper playing a pivotal role in the global energy transition and technology manufacturing, the government’s backing signals a favorable investment climate for explorers like Kincora.

Minister Courtney Houssos emphasized the strategic importance of critical minerals such as copper, rare earth elements, and cobalt, which are essential for electric vehicles, renewable energy, and advanced manufacturing. The program’s focus on copper exploration; 21 of 29 grants awarded; reflects the metal’s surging demand and NSW’s ambition to expand its supply capacity.

Looking Ahead – Unlocking Porphyry Potential

Kincora’s Wongarbon project is part of a broader portfolio of district-scale, drill-ready targets within Australia’s Lachlan Fold Belt and Mongolia’s Southern Gobi. The company’s hybrid project generator model has already attracted over $100 million in partner funding, supporting extensive drilling and exploration activities.

While the grant amount is modest, it represents a critical catalyst for advancing exploration at Wongarbon. Success here could add to the growing inventory of globally significant copper-gold resources in the Macquarie Arc, reinforcing Kincora’s position as a leading institutional-grade explorer on the ASX.