Kincora Copper's partnership with AngloGold Ashanti for maiden drilling program

Kincora Copper Limited (ASX: $KCC) is set to commence the first-ever copper-gold focused drilling program at the Nyngan Project in Central West New South Wales in partnership with AngloGold Ashanti Australia. The program, funded by AngloGold Ashanti, will involve approximately 6 to 8 drill holes for an estimated 4000-5000 metres before the summer break. Kincora will manage the program and receive a 10% management fee. This marks the first drilling program by Kincora in partnership with AngloGold Ashanti, which has the right to spend up to A$50 million to earn an 80% interest in the Nyngan and Nevertire Projects.

Executive commentary on the maiden drilling program

We are very excited by the potential of the Northern Junee-Narromine belt where we are seeking not to just confirm a new significant porphyry Cu-Au deposit but a new district and series of discoveries. The strategic appeal and value of a new porphyry district has been clearly illustrated in the Vicuña district with corporate activities by BHP and Lundin Mining this month supporting over C$8 billion of value being recognised for a cluster of four new major discoveries. Recent planning and targeting activities with our partner AngloGold Ashanti has significantly expanded the number of targets, the drilling activities needed and planned to test a series of major and previously undrilled interpreted magmatic complex targets at the Nyngan Project. Initially we are aiming to test up to eight new major intrusive system complex targets before year end in this first phase program which focuses on the very compelling northern Nyngan 'Ace of Spades' region.

Summary of Kincora Copper's maiden drilling program and outlook

Kincora Copper, in partnership with AngloGold Ashanti, is embarking on its first-ever copper-gold focused drilling program at the Nyngan Project, showcasing the company's commitment to exploring new district-scale potential. The program, funded by AngloGold Ashanti, aims to test up to eight large intrusive complex targets, with approximately 6 to 8 drill holes for an estimated 4000-5000 metres budgeted before the summer break. The company's ambitions include confirming a significant porphyry Cu-Au deposit and a new district and series of discoveries. The strategic appeal and value of a new porphyry district has been highlighted, with recent planning and targeting activities significantly expanding the number of targets and drilling activities. The program is anticipated to commence from mid-September and will continue until the summer break, subject to permitting, access, and weather conditions. Kincora's partnership with AngloGold Ashanti demonstrates its dedication to unlocking the exploration potential of the Nyngan Project, with the aim of identifying new major discoveries and contributing to the development of a new porphyry district.