Kincora commences drilling at Fairholme Project

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Kincora commences maiden drill program at the Fairholme Project to test the potential  for ‘Cowal-style’ gold-base metal mineralization and to confirm and expand previous  significant broad and high-grade intervals at the Gateway prospect 

  • The Gateway prospect at Fairholme is located 15km on trend from the Cowal mine “gold  corridor” (endowment 13.7Moz gold) with analogous mineral tenure, alteration,  geochemical zonation, structure and scale  
  • No drilling has taken place at Fairholme since Evolution Mining’s acquisition and  resource growth at the Cowal mine with previous explorers having largely underestimated  the gold-base metal corridor scale potential at the Cowal and Fairholme Projects 
  • Permits for up to 39-holes and 6,000m of drilling across various prospects at Fairholme Drilling continues at Kincora’s brownfield Trundle project at the Mordialloc N-E prospect  

Melbourne, Australia — July 23rd, 2021 

Kincora Copper Ltd. (the Company, Kincora) (TSXV & ASX:KCC) is pleased to have  commenced drilling activities at the Fairholme Project, located in the Macquarie Arc of the  Lachlan Fold Belt (LFB) in NSW, Australia.  

First phase diamond drilling at the Gateway prospect of five holes for approximately 1,700  metres will follow up multiple shallow to moderate depth, broad width and high-grade gold copper intervals from previous explorer drilling (including hole DR004: 123m @ 0.62g/t  gold and 0.12% copper from 44m, with 4m @ 2.39g/t, 8m @ 1.07g/t and 5m @ 8.21g/t gold and 0.85% copper). The Gateway prospect hosts a north-south trending 2km long by 300m  wide gold-copper-zinc corridor (and open). 

A program of up to 6,000 metres of drilling including follow up diamond and air core  programs at the Gateway prospect, and air core drilling of other under explored known  mineralized prospects is planned. 

John Holliday, Technical Committee chair, and Peter Leaman, Senior VP of Exploration,  commented: “The Fairholme Project hosts a number of prospects where favourable  historical gold and copper-gold intersections have not adequately been followed up.  This is particularly significant in light of the considerable exploration success and resource  growth at the neighbouring Cowal mine since the last phase of exploration at Fairholme. Initial diamond drilling has commenced at the Gateway prospect testing a 4oom strike  within the wider prospective gold-base metals corridor following up previous broad and  high-grade intervals.” 

An updated corporate presentation, including further details on the Fairholme project, is  available on our new website:

Figure 1: Kincora’s priority tenement holdings in the Lachlan Fold

Belt Sit in favourable locations of the key porphyry belts of the Macquarie Arc Are at advanced stages of exploration and/or host large scale footprints  

  • Demonstrate potential hallmarks of neighbouring world-class deposits 

Fairholme Project  

Kincora has commenced its maiden-drilling program at the Fairholme Project, located in the  southern sector of the Junee-Narromine Belt of the Macquarie Arc. Fairholme is adjacent  and along strike to Evolution Mining’s flagship Cowal Project. The Cowal mine hosts a  cluster of epithermal, quartz-carbonate-base metal-gold mineralization deposits across a 7.5  x 2km north-south oriented “gold corridor”, located on the western edge of Lake Cowal,  approximately 350km west of Sydney in Central West, NSW. 

This first phase program of five holes for approximately 1,700 metres at the Fairholme  Project comprises diamond drilling focused on the Gateway prospect with permits and plans  for up to 6,000 metres. 

Kincora’s drilling is following up multiple historical shallow to moderate depth broad intersections, with localized high grade gold intervals, from previous explorer drilling (e.g  123m @ 0.62g/t gold and 0.12% copper from 44m in hole DR004, including 4m @ 2.39 g/t  gold and 0.05% copper from 58m; 8m @ 1.07 g/t gold and 0.05% Cu from 82m and 5m @  8.21 g/t gold and 0.85% copper from 115m), within a north-south trending 2km x 300m wide  gold-copper-zinc anomaly (>0.1g/t gold, >500ppm copper and >900ppm zinc).

Figure 2: Kincora’s Fairholme Project has multiple, large-scale mineralized system  footprints and various hallmarks to the neighbouring world-class Cowal Project 3

The Gateway prospect is located 15km north of the Cowal “gold corridor” (current  endowment 13.7Moz gold, including past production and current resources 3) along a major  linking fault on the western side of the Booberoi shear zone with strong sericite alteration hosted by similar intrusive and volcanic rocks. 

Mineral tenure, alteration, geochemical zonation, structure and scale provide significant  encouragement for Gateway to possibly host a higher level porphyry associated system  located 15km north and along trend from a similar series of intermediate-high sulfidation  epithermal and carbonate base metal deposits in the gold corridor at Cowal.  

Modern exploration in the Cowal region was commenced by Geopeko in 1980 following its discovery of porphyry mineralization in the Goonumbla district (Northparkes). Geopeko was  seeking to test a similar geophysical profile under generally shallow post mineral cover. The exploration resulted in the Cowal epithermal gold deposit discovery (E42). In 1997, Newcrest discovered the nearby Marsden porphyry copper-gold deposit (now >0.5Mt copper  and >1Moz gold 3). Newcrest also undertook the majority of exploration and drilling at  Fairholme between 1990-2005, with total prior explorer drilling of 62,768m for 641 holes. 

The last exploration prior to Kincora’s involvement at Fairholme was by Kaizen Discovery  earning into the project (a High Powered Exploration group company). Despite Kaizen recognizing the potential for Cowal style gold deposits its primary focus was copper porphyry  potential and undertook exploration to moderate-deep depths (including a Typhoon system 

Induced Polarization survey, magnetics and drilling). Kaizen left the project in the last  commodity cycle downturn (March 2016). 

In mid 2015, Evolution Mining acquired the Cowal mine and has since grown the gold  inventory from 3.4Moz to 9.7Moz (net of 1.7Moz mine depletion), with a target total  endowment of 15Moz Au (noting total historical production of 4Moz gold) 1

Previous explorers had largely underestimated the scale potential of the gold corridor at  Cowal. No drilling has taken place at Fairholme since Evolution’s rapid resource growth with  the immediate regions gold endowment now far outshining the deeper copper porphyry  potential (the latter generally the main focus of previous explorers).  

Kincora has designed a maiden first phase drill program on the Fairholme project to test the  potential for shallow to moderate depth “Cowal-like” gold-base metal style mineralization by following up previous significant gold and copper intervals and their supporting pathfinder  geochemical and alteration zonation patterns. Permits and plans are to hand for up to 39- holes for a total of 6,000m of drilling across various prospects. 

Initial diamond drilling has commenced at the Gateway prospect (initial five diamond core  holes for approximately 1,700m), within a 1km N-S zone of anomalous down-hole gold copper-zinc mineralization. The initial program will test a 4oom strike within the wider  strong sericite alteration zone and in an interpreted favorable structural setting (intersection  of NNW and NE faults) following up previous broad and high-grade intervals – refer to  Figure 3. 

Figure 3: Previous significant intervals at the Gateway prospect have not been  systematically followed up until Kincora’s recently commenced drilling program  Kincora’s maiden first phase drilling program is focused on zone of broad mineralization with high grade intervals

Following completion of the initial program a second phase follow up diamond drilling  program at Gateway and shallow air-core drilling is planned. The latter is designed to expand  and infill a pipeline of prospects testing single or multiple point gold, and gold and copper, anomalies at the Gateway, Driftway C, Anomaly 2, Manna Creek, Glencoe and Kennel  prospects, situated across a 15 km N-S strike (see right hand side of Figure 2 for prospect  locations). 

Evolution has recently approved the A$380m development of an underground mine on the  GRE46 deposit within the gold corridor at Cowal from to provide increased grade to supplement existing open pit operations (from E42) 2. This approval underpins the planned  expansion to 350,000/oz pa production at Cowal (and extends mine life out beyond 17 years) 2. Drilling activities have also commenced at the E39 porphyry target, south of operations,  and also within the gold corridor 2.  

Outside of the Fairholme Project, a second drill rig for Kincora continues at the brownfield  Trundle project at the Mordialloc North-East (N-E) prospect. 

An updated detail corporate presentation, including further details on the Fairholme and  Trundle Projects, and their hallmarks respectively to the neighboring Cowal and  Northparkes mineral systems (latter cumulative total of over 20Moz gold and over 5Mt copper 3), is available on our new website: 

1 Evolution September 2020 investor day. 

2 Evolution June 2021 quarterly results and associated releases.  

3 Stated resource endowments, previous mine production and current resources sourced from public market release and  bespoke Mar’20 request by Richard Schodde from MinEx Consulting for Kincora Copper. 

Fairholme project background  

The Fairholme project includes two contiguous licenses covering a total of 169.2km2 and was secured by Kincora in the March  2020 agreement with RareX Limited (“REE” on the ASX). Kincora is the operator, holds a 65% interest in the Fairholme project  and is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint venture will be formed. 

This announcement has been authorised for release by the Board of Kincora Copper Ltd (ARBN 645 457 763) 

For further information please contact:  

Sam Spring, President and Chief Executive Officer or +61431 329 345  

For media enquiries: 

Media & Capital Partners 

Angela East at


Forward-Looking Statements 

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of  applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts,  projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations  reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have  been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its  control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could  cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and  exploration results, and continued availability of capital and financing and general economic, market or business conditions.  The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information  contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation  to revise or update these forward-looking statements, except as may be required under applicable securities laws. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies  of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy  or accuracy of this release. 

Drilling, Assaying, Logging and QA/QC Procedures  

Kincora Copper Limited, and its contractors, using the Company’s protocols as per industry best practise, carry out Sampling  and QA/QC procedures.  

All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal  checks by ALS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all  assayed samples. 

Diamond drilling is being undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists.  Well-trained geologists logged all drill core to best industry standard and Kincora’s drill core sampling protocol consisted a  collection of samples over the entire logged core.  

Sample interval selection was based on geological controls or mineralization or metre intervals, and/or guidance from the  Technical Committee provided subsequent to daily drill and logging reports. Sample intervals are cut by the Company and  delivered by the Company direct to ALS.  

All reported assay results are performed by ALS and widths reported are drill core lengths. There is insufficient drilling data to  date to demonstrate continuity of mineralized domains and determine the relationship between mineralization widths and  intercept lengths. 

True widths are not known at this stage. Significant mineralised intervals are reported with dilution on the basis of: Internal dilution is below the aforementioned respective cut off’s; and,  

  • Dilutions related with core loss as flagged by a “*”. 

The following assay techniques have been adopted for drilling at the Fairholme project: 

o Gold: Au-AA24 (Fire assay), reported. 

o Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid  digestion with ICP-AES & ICP-MS analysis for 48 elements). 

o Assay results >10g/t gold and/or 1% copper are re-assayed. 

JORC Competent Person Statement 

Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and  approved by Dr. Paul Cromie, a Qualified Person under the definition established by JORC and have sufficient experience which  is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify  as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral  Resources and Ore Reserves’.  

Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and  Society of Economic Geologists), is Exploration Manager Australia for the Company. Dr. Cromie consents to the inclusion in  this report of the matters based on his information in the form and context in which it appears. 

The review and verification process for the information disclosed herein for the Fairholme projects have included the receipt of  all material exploration data, results and sampling procedures of previous operators and review of such information by  Kincora’s geological staff using standard verification procedures. 

Qualified Person 

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian  Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects  (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s geological staff under the supervision of Paul Cromie (BSc  Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic  Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose of NI 43-101.


Section 1 Sampling Techniques and Data 

(Criteria in this section apply to all succeeding sections).

Criteria  JORC Code explanation  Commentary


Nature and quality of sampling (e.g.  cut channels, random chips, or  

specific specialised industry standard  

measurement tools appropriate to the  

minerals under investigation, such as  

down hole gamma sondes, or  

handheld XRF instruments, etc.).  

These examples should not be taken as  limiting the broad meaning of  


Include reference to measures taken  to ensure sample representivity and  

the appropriate calibration of any  

measurement tools or systems used. 

Aspects of the determination of  

mineralisation that are Material to  

the Public Report. 

In cases where ‘industry standard’  work has been done this would be  

relatively simple (e.g. ‘reverse  

circulation drilling was used to obtain  1 m samples from which 3 kg was  

pulverised to produce a 30 g charge 

for fire assay’). In other cases more  

explanation may be required, such as  

where there is coarse gold that has  

inherent sampling problems. Unusual  

commodities or mineralisation types  

(eg submarine nodules) may warrant  

disclosure of detailed information

Kincora Copper Limited is the operator of the  Fairholme Project, which is comprised of two  contiguous exploration licenses, namely: Fairholme  EL6552 and Manna EL6915 with a combined total  of 168.9 km2.  

In the first phase program, Kincora will undertake  drilling using diamond coring methods by DrillIt  Consulting Pty Ltd. 

Diamond drilling is to be used to obtain orientated  samples from the ground, which was then  

structurally, geotechnically and geologically logged. Sample interval selection is to be based on  geological controls and mineralization. 

Sampling is to be completed to industry standards  with 1⁄4 core for PQ and HQ diameter diamond core  and 1⁄2 core for NQ diameter diamond core sent to  the lab for each sample interval. 

Samples will be assayed via the following methods: – Gold: Au-AA24 (Fire assay) 

– Multiple elements: ME-ICP61 (4 acid digestion  with ICP-AES analysis for 33 elements) and ME MS61 (4 acid digestion with ICP-AES & ICP-MS  analysis for 48 elements) 

– Assay results >10g/t gold and/or 1% copper are  re-assayed 

Historic sampling on other projects included soils,  rock chips and drilling (air core, RAB, RC and  diamond core).



Drill type (e.g. core, reverse  

circulation, open-hole hammer,  

rotary air blast, auger, Bangka,  

sonic, etc) and details (e.g. core  

diameter, triple or standard tube,  

depth of diamond tails, face-sampling  

bit or other type, whether core is  

oriented and if so, by what method,  


Drilling by Kincora at Fairholme will use diamond  core drilling with PQ, HQ and NQ diameter core  depending on drilling depth. 

All Kincora core will be oriented using a Reflex ACE  electronic tool. 

Historic drilling on Kincora projects used a variety  of methods including air core, rotary air blast,  reverse circulation, and diamond core. Methods are  clearly stated in the body of the previous reports  with any historic exploration results.

Drill sample  recovery Method of recording and assessing  core and chip sample recoveries and  

results assessed. 

Measures taken to maximise sample  recovery and ensure representative  

nature of the samples. 

Whether a relationship exists between  sample recovery and grade and  

whether sample bias may have  

occurred due to preferential loss/gain  

of fine/coarse material.

Drill core recovery historically was logged and will  be by Kincora. 

Diamond drill core recoveries are contained in the  body of the announcement. 

Core recoveries were recorded by measuring the  total length of recovered core expressed as a  

proportion of the drilled run length.  

There is no relationship between core recoveries  and grades.

Logging  Whether core and chip samples have  been geologically and geotechnically  

logged to a level of detail to support  

appropriate Mineral Resource  

estimation, mining studies and  

metallurgical studies. 

Whether logging is qualitative or  

quantitative in nature. Core (or  

costean, channel, etc.) photography. 

The total length and percentage of the  relevant intersections logged.

All Kincora holes are geologically logged for their  entire length including lithology, alteration,  

mineralization (sulphides and oxides), veining and  structure.  

Logging is mostly qualitative in nature, with some  visual estimation of mineral proportions that is  semi-quantitative. Measurements are taken on  structures where core is orientated. 

All cores are photographed. 

Historic drilling was logged with logging mostly  recorded on paper in reports lodged with the NSW 


Department of Mines.



and sample  preparation

If core, whether cut or sawn and  

whether quarter, half or all core  


If non-core, whether riffled, tube  

sampled, rotary split, etc. and  

whether sampled wet or dry. 

For all sample types, the nature,  

quality and appropriateness of the  

sample preparation technique. 

Quality control procedures adopted  for all sub-sampling stages to  

maximise representivity of samples. 

Measures taken to ensure that the  sampling is representative of the in  

situ material collected, including for  

instance results for field  

duplicate/second-half sampling. 

Whether sample sizes are appropriate  to the grain size of the material being  


Once all geological information was and is extracted  from the drill core, the sample intervals were cut  with an Almonte automatic core saw, bagged and  delivered to the laboratory. 

This is an appropriate sampling technique for this  style of mineralization and is the industry standard  for sampling of diamond drill core. 

PQ and HQ sub-samples were quarter core and NQ  half core.  

Sample sizes are considered appropriate for the  disseminated, generally fine-grained nature of  mineralization being sampled. 

Quality of  

assay data  




The nature, quality and  

appropriateness of the assaying and  

laboratory procedures used and  

whether the technique is considered  

partial or total. 

For geophysical tools, spectrometers,  handheld XRF instruments, etc, the  

parameters used in determining the  

analysis including instrument make  

and model, reading times,  

calibrations factors applied and their  

derivation, etc. 

Nature of quality control procedures  adopted (e.g. standards, blanks,  

duplicates, external laboratory  

checks) and whether acceptable levels  

of accuracy (ie lack of bias) and  

precision have been established.

Gold will be determined by fire assay and a suite of  other elements including Cu and Mo by 4-acid  digest with ICP-AES finish at ALS laboratories in  Orange and Brisbane. Over-grade Cu (>1%) was  diluted and re-assayed by AAS.  

Techniques are considered total for all elements.  Results for blanks and standards are checked upon  receipt of assay certificates. All standards have  reported within certified limits of accuracy and  precision. 

Historic assays on other projects were mostly gold  by fire assay and other elements by ICP. 

Verification  of sampling  and assaying The verification of significant  

intersections by either independent or  

alternative company personnel. 

The use of twinned holes. 

Documentation of primary data, data  entry procedures, data verification,  

data storage (physical and electronic)  


Discuss any adjustment to assay data.

Kincora’s geological staff calculated significant  intercepts. 

The intercepts have not been verified by  independent personal. 

Logging data will be captured digitally on electronic  logging tablets and sampling data is captured on  paper logs and transcribed to an electronic format  into a relational database maintained at Kincora’s  Mongolian office. The logging geologist verifies  transcribed data. 

Assay data is received from the laboratory in  electronic format and uploaded to the master  database. 

No adjustments to assay data have been made. Outstanding assays are outlined in the body of the  announcement.

Location of  

data points

Accuracy and quality of surveys used  to locate drill holes (collar and down 

hole surveys), trenches, mine  

workings and other locations used in  

Mineral Resource estimation. 

Specification of the grid system used. Quality and adequacy of topographic  control.

Collar positions are set up using a hand-held GPS  and later picked up with a DGPS to less than 10cm  horizontal and vertical accuracy.  

Drill holes are surveyed down hole every 30m using  an electronic multi-shot magnetic instrument. Due to the presence of magnetite in some alteration  zones, azimuth readings are occasionally unreliable  and magnetic intensity data from the survey tool is  used to identify these readings and flag them as  such in the database. 

Grid system used is the Map Grid of Australia Zone  55, GDA 94 datum.


Topography in the area of the Fairholme project is  near-flat, with post mineral cover and drill collar  elevations provide adequate control
Data spacing  and  


Data spacing for reporting of  

Exploration Results. 

Whether the data spacing and  

distribution is sufficient to establish  

the degree of geological and grade  

continuity appropriate for the  

Mineral Resource and Ore Reserve  

estimation procedure(s) and  

classifications applied. 

Whether sample compositing has  been applied.

Kincora drilling at the Fairholme project is at an  early stage, with drill holes stepping out from  previous mineralization intercepts at various  distances at various prospects. 

Data spacing at this stage is insufficient to establish  the continuity required for a Mineral Resource  estimate. 

No sample compositing was applied to Kincora  drilling.  

Historic drilling on Fairholme and other projects  was completed at various drill hole spacing’s and no  other projects have spacing sufficient to establish a  mineral resource.

Orientation  of data in  

relation to  



Whether the orientation of sampling  achieves unbiased sampling of  

possible structures and the extent to  

which this is known, considering the  

deposit type. 

If the relationship between the  

drilling orientation and the  

orientation of key mineralised  

structures is considered to have  

introduced a sampling bias, this  

should be assessed and reported if  


Angled drill holes are directed as best possible  across the known lithological and interpreted  mineralized structures.  

There does not appear to be a sampling bias  introduced by hole orientation in that drilling not  parallel to mineralized structures.



The measures taken to ensure sample  security. Kincora staff or their contractors will oversee all  stages of drill core sampling. Bagged samples are to  be placed inside polyweave sacks that in-turn are  zip-tied, stored in a locked container and then  transported to the laboratory by Kincora field  personnel.
Audits or  


The results of any audits or reviews of  sampling techniques and data. Mining Associates has completed an review of prior  explorer activities, sampling techniques and  

procedures dated January 31st, 2021, as outlined in  the Independent Technical Report included in the  ASX listing prospectus, which is available at: prospectus 

SRK Consulting (Australasia) Pty Ltd has completed  an NI 43-101 report on Fairholme, dated 26  

February 2014, for the previous explorer of the  project Kaizen Discovery Inc., which is available at: eports/Fairholme_43-101.pdf


Section 2 Reporting of Exploration Results 

(Criteria listed in the preceding section also apply to this section.)

Criteria  JORC Code explanation  Commentary


and land  



Type, reference name/number, location  and ownership including agreements  

or material issues with third parties  

such as joint ventures, partnerships,  

overriding royalties, native title  

interests, historical sites, wilderness or  

national park and environmental  


The security of the tenure held at the  time of reporting along with any  

known impediments to obtaining a  

licence to operate in the area.

The Fairholme project is comprised of two  contiguous exploration licenses namely:  Fairholme EL6552 and Manna EL6915 with a  combined total of 168.9 km2

Kincora holds two exploration licences in NSW, a  further exploration license application and rights  to a further six exploration licences through an  agreement with RareX Limited (RareX, formerly  known as Clancy Exploration). 

EL8222 (Trundle), EL6552 (Fairholme), EL6915 (Fairholme Manna), EL8502 (Jemalong), EL6661 (Cundumbul) and EL7748 (Condobolin) are in a  JV with RareX where Kincora has a 65% interest  in the respective 6 licenses and is the operator  /sole funder of all further exploration until a  positive scoping study or preliminary economic  assessment (“PEA”) on a project by project basis.  Upon completion of PEA, a joint venture will be  formed with standard funding/dilution and right  of first refusal on transfers. 

EL8960 (Nevertire), EL8929 (Nyngan) and  ELA6304 (Mulla) are wholly owned by Kincora. All licences are in good standing and there are no  known impediments to obtaining a licence to  operate.

Exploration  done by  

other parties

Acknowledgment and appraisal of  exploration by other parties. All Kincora projects have had previous exploration  work undertaken.  

The review and verification process for the  information disclosed herein and of other parties for the Fairholme project has included the receipt  of all material exploration data, results and  sampling procedures of previous operators and  review of such information by Kincora’s geological  staff using standard verification procedures.  Further details of exploration efforts and data of  other parties are providing in the March 1st, 2021,  Independent Technical Report included in the  ASX listing prospectus, which is available at: prospectus 

SRK Consulting (Australasia) Pty Ltd has  completed an NI 43-101 report on Fairholme,  dated 26 February 2014, for the previous explorer  of the project Kaizen Discovery Inc. (who  

withdrew from the Fairholme project 29 March  2016, having earned a 49% interest and was  extending this to a 65% interest by funding  

ongoing exploration), which is available at: _reports/Fairholme_43-101.pdf

Geology  Deposit type, geological setting and  style of mineralisation. All projects are within the Macquarie Arc, part of  the Lachlan Orogen. 

Rocks comprise successions of volcano sedimentary rocks of Ordovician age, intruded by  suites of subduction arc-related intermediate to  felsic intrusions of late Ordovician to early Silurian  age.  

Kincora is exploring for porphyry-style copper and  gold mineralisation, copper-gold skarn plus  related high sulphidation, carbonate base metal and epithermal gold systems. 

Drill hole  


A summary of all information material  to the understanding of the exploration  

results including a tabulation of the  

following information for all Material 

Detailed information on prior drilling at  Fairholme is given in the body of the report with  further details available in the March 1st, 2021,  Independent Technical Report included in the  ASX listing prospectus, which is available at:


drill holes: 

easting and northing of the drill hole  collar 

elevation or RL (Reduced Level – 

elevation above sea level in metres) of  

the drill hole collar 

dip and azimuth of the hole 

down hole length and interception  depth 

hole length. 

If the exclusion of this information is  justified on the basis that the  

information is not Material and this  

exclusion does not detract from the  

understanding of the report, the  

Competent Person should clearly  

explain why this is the case. prospectus

aggregation  methods

In reporting Exploration Results,  

weighting averaging techniques,  

maximum and/or minimum grade  

truncations (e.g. cutting of high  

grades) and cut-off grades are usually  

Material and should be stated. 

Where aggregate intercepts  

incorporate short lengths of high grade  results and longer lengths of low-grade 

results, the procedure used for such  

aggregation should be stated and some  typical examples of such aggregations  

should be shown in detail. 

The assumptions used for any  

reporting of metal equivalent values  

should be clearly stated.

Core loss was included as dilution at zero values. Average gold and copper grades calculated as  averages weighted to sample lengths. 

Historic drilling results in other project areas are  reported at different cut-off grades depending on  the nature of mineralisation.

Relationship  between  

mineralisati on widths  




These relationships are particularly  important in the reporting of  

Exploration Results. 

If the geometry of the mineralisation  with respect to the drill hole angle is  

known, its nature should be reported. 

If it is not known and only the down  hole lengths are reported, there should  

be a clear statement to this effect (eg  

‘down hole length, true width not  


Due to the uncertainty of mineralisation  orientation, the true width of mineralisation is not  known at Fairholme. 

Intercepts from historic drilling reported at other  projects are also of unknown true width. 

Diagrams  Appropriate maps and sections (with  scales) and tabulations of intercepts  

should be included for any significant  

discovery being reported These should  

include, but not be limited to a plan  

view of drill hole collar locations and  

appropriate sectional views.

Relevant diagrams are included in the body of the  report.


Where comprehensive reporting of all  Exploration Results is not practicable,  

representative reporting of both low  

and high grades and/or widths should  

be practiced to avoid misleading  

reporting of Exploration Results.

Intercepts reported for historic drilling at  Fairholme are zones of higher grade within  mineralized or weakly anomalous material. 

substantive  exploration  data

Other exploration data, if meaningful  and material, should be reported  

including (but not limited to):  

geological observations; geophysical  

survey results; geochemical survey  

results; bulk samples – size and method  of treatment; metallurgical test results;  bulk density, groundwater,  

geotechnical and rock characteristics;  

potential deleterious or contaminating  


No other exploration data is considered material  to the reporting of results at Fairholme. Other data  of interest to further exploration targeting is  included in the body of the report. 

Historic exploration data coverage and results are  included in the body of the report for Kincora’s  other projects.




The nature and scale of planned further  work (e.g. tests for lateral extensions or  depth extensions or large-scale step-out  drilling). 

Diagrams clearly highlighting the  

areas of possible extensions, including  

the main geological interpretations and  future drilling areas, provided this  

information is not commercially  


Diamond drilling on the Gateway prospect at  Fairholme is ongoing at the time of publication of  this report and plans are also in place for further  air-core drilling at the Gateway, Anomaly 2, 

Driftway C, Glencoe, Manna Creek and Kennel  prospects that have complementary but  insufficiently tested geochemistry and geophysical  targets with the aim to find: (a) and expand near  surface “Cowal style” epithermal, quartz 

carbonate-base metal-gold mineralization overlying to (b) underlying copper-gold porphyry  systems.


Kincora Copper Limited