Strategic Investment and Expanded Partnership with Fleet Space

In a significant move, Kincora Copper Limited (ASX) has announced a strategic partnership with Fleet Space Technologies, a leader in space and mineral exploration technology. This partnership involves a capital raising of A$1.27 million, with Fleet Space contributing A$400,000 to secure an initial ~4% strategic stake in Kincora. The investment was raised at A$0.038 per share with a 1:2 attaching option priced at A$0.075. This capital raising also saw participation from Kincora’s existing major shareholders and new investors, showcasing strong confidence in the company's direction.

Strengthening Exploration with Advanced Technology

Kincora’s partnership with Fleet Space includes deploying cutting-edge exploration technology at the Wongarbon Project. Fleet Space will apply its Exosphere technology, a revolutionary system combining satellite connectivity, 3D multiphysics data acquisition, and AI to enhance mineral exploration. The partnership also grants Fleet Space the right to fund a 2,000-meter drill program to earn a 20% stake in the Wongarbon Project, a significant copper-gold exploration target.

The Wongarbon Project, located in the Macquarie Arc, is believed to host a substantial, yet untapped, porphyry copper-gold system. Situated on a key geological structure, the project is positioned in an area renowned for significant copper-gold discoveries, including Alkane Resources' Northern Molong Porphyry Project.

Wongarbon Project: A New Frontier for Exploration

The Wongarbon Project, secured by Kincora in mid-2024, covers 173 square kilometers and is located in the underexplored Northern Molong Belt of the Macquarie Arc. This region is recognized for its potential to host large-scale porphyry copper-gold deposits, and the project is seen as one of the last remaining untested areas in the belt. Kincora and Fleet Space’s combined expertise in geological analysis and cutting-edge technology will provide a pathway for advanced exploration, target refinement, and eventual drill testing of large virgin targets.

The project has never been drilled before, but recent interpretations and surveys suggest high-priority targets, making Wongarbon a prime candidate for significant new discoveries.

Fleet Space's Revolutionary Exploration Technology

Fleet Space, known for its groundbreaking Exosphere technology, will conduct real-time 3D Ambient Noise Tomography (ANT) and ground gravity surveys at the Wongarbon Project. This technology enables faster and more accurate identification of mineral targets, significantly enhancing the success rate of discovering new economic mineral systems. Fleet Space’s involvement extends beyond technology deployment, as the company is set to play a vital role in target identification, refinement, and drilling at Wongarbon.

Capital Raising to Fund Exploration and Growth

Alongside the expanded partnership with Fleet Space, Kincora’s A$1.27 million capital raising will support drilling and exploration at the Wongarbon Project, including ANT and gravity surveys. The raised funds will also facilitate exploration at Kincora’s other project sites, particularly the Condobolin Project, while also covering operational costs and working capital.

Looking Ahead: A Strategic Move for Future Discoveries

Kincora’s partnership with Fleet Space marks a significant step forward in its exploration efforts, with the potential to unlock new large-scale copper-gold systems in the Macquarie Arc. With advanced technology from Fleet Space and a strong capital position, Kincora is well-positioned to pursue its goal of major new discoveries and further strengthen its project portfolio in both Australia and Mongolia.

The company’s leadership, including CEO Sam Spring, is confident that the Wongarbon Project could be a major breakthrough in the exploration of new porphyry districts. Both Kincora and Fleet Space are aligned in their belief that the region holds immense untapped potential, and this partnership sets the stage for future discoveries that could significantly boost Kincora’s standing in the mineral exploration industry.