Drilling Commences Testing At The Cundumbul Project

MELBOURNE, AUS - Kincora Copper Ltd. reported that Sultan Resources Ltd has commenced drilling of its Big Hill gold copper porphyry target that sits on the license boundary of Kincora's Cundumbul project 2.  Permits for up to 4500 meters of diamond drilling are in place with a first pass 3-hole program for 1200 meters commenced, and expected to take only 4 weeks, with drill collars within 300 meters of the Cundumbul license boundary 1, 2.

The Big Hill target displays coincident and complimentary magnetic and Induced Polarization (IP) responses, high grade copper and gold rock chips, distinct gold and copper plus pathfinder element geochemical soil anomalism and porphyry-style alteration within host-rock geology and a structural setting consistent with the upper or outer parts of an alkalic porphyry gold copper system such as Cadia and Boda 1, 2. The Big Hill target is located approximately 50km in equal distance to both Cadia and Boda in the Molong Belt of the Macquarie Arc of the Lachlan Fold Belt.

The Big Hill magnetic complex is approximately 5km long by 2.5km wide situated within both the Sultan and Kincora licenses. A recent IP survey by Sultan has identified a large-scale IP chargeability anomaly approximately 1km long by 650m wide extending to 500m1 on their portion of the Big Hill magnetic complex straddling the license boundary.

Sam Spring, President & CEO, commented: "Since Sultan secured its portfolio in the Lachlan Fold Belt in March 2020 it has been actively advancing the Big Hill target as a priority with boots on the ground exploration. This has resulted in the recently commenced first pass 3-hole program, with all holes collared within 300 meters of our license boundary and one proposed to be drilled up to the Cundumbul boundary.

Sultan's exploration approach and common large-scale magnetic complex target, of which up to 40% potentially sits on our ground, provides a template for Kincora to adopt should their drilling prove successful. We are watching with keen interest wishing Sultan all the best. The last exploration undertaken at the Cundumbul project was funded by Mitsubishi in 2015 and included only 844m of prior shallow drilling at other targets within the license.