Kincora launches first systematic Condobolin drilling in over a decade

Historic Condobolin reawakens with systematic drilling

Kincora Copper Limited (ASX:KCC) has initiated the first systematic drilling program at the Condobolin project in more than a decade, marking a pivotal step in exploring this historically significant gold, silver, and base metals field in the southern Cobar Basin of Central West NSW. The program, fully funded and solely financed by Kincora, targets up to eight diamond core holes focused on the high-grade Meritilga discovery and adjacent new coincident geochemical and geophysical anomalies.

Meritilga, a blind shallow gold discovery made by previous explorer Clancy Exploration in 2012, boasts impressive intercepts including 4m at 20g/t gold and 30.2g/t silver from 75m, with a standout 1m interval grading 62g/t gold and 60g/t silver. Kincora’s drilling seeks to test the down-dip and strike extensions of this mineralised lode, as well as evaluate the potential for vertically extensive mineral systems typical of Cobar-style deposits. This approach also aims to validate the geological concept of a deeper causative intrusion driving zoned hydrothermal mineralisation across multiple historical mines and targets in the district.

Turning historic challenges into exploration opportunities

The Condobolin Mineral Field has a storied history of shallow open pit mining dating back to the late 1800s, but previous exploration and mining efforts were hampered by a high water table and a thick weathering profile that obscured deeper mineralisation. Kincora’s current program leverages modern geophysical techniques, including a ~150km² airborne electromagnetic survey completed in late 2025, to overcome these historic obstacles and unlock the district’s potential.

John Holliday, Technical Committee chair, highlighted the strategic significance of the project: "Recent M&A activity in the Cobar district underscores the value of high-grade precious and critical mineral deposits, especially where existing processing infrastructure can be leveraged. Condobolin offers a compelling opportunity for a junior explorer like Kincora to add significant value." The project’s proximity; approximately 40km south of the Mineral Hill mill, which recently resumed hard rock mining under Kingston Resources; adds logistical appeal.

Broader exploration momentum and partnerships

Kincora’s drilling at Condobolin runs alongside its ongoing partnership with AngloGold Ashanti at the Nevertire South porphyry project in the Macquarie Arc, where drilling is advancing under joint funding arrangements. This dual-track approach reflects Kincora’s hybrid project generator strategy, balancing capital-efficient sole-funded programs with partner-funded exploration on larger porphyry targets. The company recently accelerated drilling at Nevertire following encouraging Phase 1 results, expanding its footprint across the Northern Junee-Narromine Belt with significant earn-in agreements in place.

The Condobolin program is fully permitted and land access agreements are secured for up to 15 diamond holes, with the initial phase focusing on eight holes. Follow-up drilling is planned contingent on results, including testing other open prior discoveries and larger causative porphyry centers within the project area. This staged approach aims to systematically build on the proof-of-concept established by prior drilling and geochemical surveys.

Cobar Basin’s resurging allure amid regional consolidation

The southern Cobar Basin remains relatively underexplored despite its 150-year history as a high-grade mining district. Recent discoveries by companies such as Kingston Resources and Australian Gold and Copper, along with major transactions like Harmony Gold’s A$1.6 billion acquisition of MAC Copper, highlight renewed interest in the region’s critical and precious metals potential. Kincora’s Condobolin project is well positioned within this dynamic landscape, offering exploration upside in a district benefiting from established infrastructure and favourable ESG credentials.

The Meritilga target, with its significant gold and base metals mineralisation open at depth and along strike, exemplifies the kind of discovery that could drive value creation. The current drilling campaign will test the continuity and scale of mineralisation, while also probing for the deeper porphyry intrusions that may be the source of the zoned hydrothermal systems observed at surface.

As Kincora advances its Condobolin drilling, the market will be watching how these results integrate with its broader portfolio, which includes multiple district-scale projects supported by partner funding and government grants. The company’s ability to leverage both sole-funded and joint venture exploration models is a key part of its strategy to unlock value across Australia’s premier porphyry belts.