The Jemalong project is located along the southern sector of the Junee-Narromine Belt of the Macquarie Arc in the Cowal block with the license contiguous to Evolution Mining’s flagship Cowal project, immediately on the other side of Lake Cowal, and ~12km north of the Marsden gold-copper porphyry deposit (>1Moz Au and >0.5Mt Cu resource). Marsden is a typical zoned Macquarie Arc porphyry intrusive deposit, with the base of system yet to identified, having been dismembered by the post mineral Marsden thrust fault, limiting the ultimate size of the known mineral system.

Jemalong was previously the focus of limited drilling by BHP and Newcrest targeting a major low-grade, high tonnage gold deposit amendable to open pit mining, and hosts the potential for higher grade alkalic gold-copper porphyry systems (similar to Marsden) and/or intrusion related gold-base metals systems (similar to Cowal).

Similar to the Marsden deposit, regional geology is masked by relatively shallow ~20-90m deep post mineral cover. This cover has previously been a barrier to exploration but depth and nature of cover is attractive to a number of other current exploration projects in the district with the Marsden discovery providing a clear exploration roadmap.

Relatively limited and shallow historic drilling at the Jemalong project, noting no drilling in the last decade, has confirmed a mineralized porphyry system at Jemalong Channel following up previous gravity and magnetic anomalies/features.

Kincora has identified three targets at the Jemalong project for drilling:

• Limited drilling has confirmed a mineralised porphyry system (open) at the Jemalong Channel prospect with step-out drilling required,
• Maiden drilling proposed at the Edols and Webster prospects:
• Edols prospect: is a previously undrilled carbonate base metal gold target. The planned AC drilling follows the same approach of Newcrest within the Cowal Igneous Complex that lead to the discovery of Marsden, involving scout drilling along a section through contrasting magnetic signatures and the intersection of regional structures.
• Websters prospect: is a porphyry copper-gold target located on the intersection of NW and NE trending structure inferred to be important ore controlling structures at Marsden (located 12km south).

These targets and designed drill programs were successful winning grants in the fourth round of the NSW Government’s New Frontiers Cooperative Drilling grants program (December 2021). Due to significant regional and project level flooding, these programs were not completed prior to the June 2023 deadline.

Discussions with potential asset level partners continue as administration relating to the transfer of 100% ownership of the project to Kincora has just concluded (December 2023).