Kincora Copper: Expanded Scope for Ongoing Drilling in the Northern Junee-Narromine Belt

Core Insights - Kincora Copper Limited has expanded its exploration programs in the Northern Junee-Narromine Belt (NJNB) in New South Wales, Australia, under a joint venture with AngloGold Ashanti, significantly increasing the scale of its drilling activities and management fee income [3][4][30]. Exploration Program Update - The ongoing drilling program at the Nyngan project has completed a total of fifteen scout holes for 6,197.3 meters, with four additional holes planned, indicating a robust exploration effort [7][8]. - Initial results from the gravity survey and scout drilling have identified new targets, enhancing the potential for discovering porphyry copper and epithermal gold deposits [5][11]. - The drilling program is set to transition from Nyngan to the Nevertire and Nevertire South projects, with plans for further drilling phases based on ongoing results [6][13][21]. Joint Venture and Financial Aspects - Kincora is managing the exploration programs and receives a 10% management fee, with AngloGold Ashanti having the right to invest up to A$100 million across five projects within the NJNB portfolio [7][30][19]. - The second earn-in agreement with AngloGold Ashanti has expanded the scope of exploration, covering a continuous strike greater than 100 kilometers [30][38]. Geological Insights - The gravity survey covered over 400 square kilometers and has identified multiple new targets, with encouraging geological features noted in several drill holes [11][9]. - The Nyngan project is situated in a significant portion of the Macquarie Arc, which is known for its rich mineral endowment, including over 160 million gold equivalent ounces [28][34]. Future Plans - A Stage 2 follow-up phase of drilling is proposed at Nyngan after analyzing the results from the current scout drilling program, indicating a strategic approach to exploration [12][33]. - Drilling activities are expected to continue into the fourth quarter of 2025, ensuring a steady flow of updates and management fees for Kincora [17][21].