High Grade Gold Results From The First Hole At Trundle Project

VANCOUVER, BC - Kincora Copper Ltd. reported the assay results of the first hole at the Trundle project, within the Trundle Park target which has returned multiple significant intervals of gold and copper mineralization.

John Holliday, Technical Committee Chair, and Peter Leaman, Senior VP of Exploration, said, "We are extremely pleased and excited by the results of this first hole, it is not often you see such high grades near surface within a porphyry environment. Assay results support previously announced visual interpretations of multiple zones of significant gold and copper mineralization. This supports the skarn being a standalone target at depths and intervals often mined by both open cut and underground methods, but the high-grade zones within broader moderate mineralized zones are very importantly illustrating significant magmatic fluids associated with the adjacent porphyry intrusion system, which is a much larger target. These results from this first hole at the Trundle Park target, plus visual indications from the second hole 8.5km north at the Mordialloc target are very encouraging. The Trundle project is interpreted to sit within the interpreted Northparkes Intrusive Complex, placing Kincora in a unique global setting being a listed junior exploring a large system in a prospective brownfield field setting."

The skarn and porphyry intrusion system setting intersected at the Trundle Park target is a common geological setting of many large porphyry systems. Within the Macquarie Arc, the Big and Little Cadia skarns at Cadia have produced an estimated 140,000t of high-grade copper (5-7%) and greater than 1.5Mt iron ore2, and were important to the discovery of multiple adjacent causative intrusions and deposits that make up the largest porphyry system in Australia.

The average depth of prior drilling at the Trundle Park target is only 28 meters. The fourth hole of the ongoing maiden Kincora drilling program at the Trundle project, and follow up hole to TRDD001, has recently been completed at the Trundle Park target (detailed review of core pending) with drilling activities remobilized to complete the previously announced third hole at the Bayleys porphyry target. Assay results from Kincora's second hole at the Mordialloc target (TRDD002), are expected within two weeks. As announced on June 9th, 2020, TRDD002 has intersected strong alteration halo indicators of a mineralized porphyry intrusion system supporting the targeted geological setting of a high-level, preserved porphyry system.  These indicators include significant intervals with visually interpreted localized moderate copper grades and inner propylitic zone alteration. A follow up hole at the Mordialloc target is expected to commence in July.