The first phase drilling program is being conducted at the 100% owned Condobolin epithermal gold-silver-base metals project in the Cobar Basin.
- It is a capital-efficient, self-funded drilling program of almost diamond drill holes
- It is the first systematic drilling in a decade at the historic Condobolin Mineral Field
- Testing down dip, on strike, new adjacent coincident geochemical as well as geophysical targets at the high-grade Meritilga discovery
- Meritilga follow-up drilling is proposed and fully funded – other open prior discoveries and larger causative porphyry centres are also under consideration as targets
- The recent corporate activity underscores the value of high-grade projects in the Cobar Basin
Drilling is in progress with AngloGold Ashanti at the Nevertire South porphyry project in the Macquarie Arc, which is highly prospective.
Gold copper explorer & hybrid project generator, Kincora Copper Limited – Kincora is pleased to report that drilling has now commenced at the Condobolin project located at the southern end of the Cobar Basin located in the Central West NSW.
The Technical Committee chair, John Holliday, and VP of Exploration, Peter Leaman, said they are very thrilled to be drilling at two highly prospective projects, including the first systematic drilling program in more than a decade on their wholly owned Condobolin project.
Their recent activities have included consolidation of the historic Condobolin mineral field, a large airborne geophysical survey, and a regional review when it comes to shallow historical workings, open prior explorer discoveries as well as potential causative porphyry targets.
Water and the weathering profile were used to constrain mining and exploration, but these historical limitations are now a strong opportunity. The final stage of drilling delivered proof-of-concept with favourable outcomes and simple exploration upside at a number of historical mines and new discoveries, which includes a blind high-grade gold discovery at Meritilga.
It is well to be noted that the recent M&A in the Cobar district points out the strategic value of high-grade precious as well as critical mineral deposits, especially where advantages can be unlocked from current processing capacity. The Condobolin project is the kind of asset that a junior explorer such as Kincora can add substantial value to.
The southern Cobar Basin is still comparatively underexplored, with recent findings in historic mining districts.