Northern Junee-Narromine Belt Projects (Nyngan, Nevertire and Mulla Licenses)

Kincora’s Northern Junee-Narromine Belt (the “NJNB”) portfolio and strategy includes the wholly owned Nyngan, Nevertire and Mulla licenses.

The portfolio includes a large portion of what is interpreted by Kincora to be the most prospective and shallow to moderate covered part of the commonly accepted northwards extension of the Junee-Narromine Belt of the Macquarie Arc. Due to post-mineral cover, there has been very limited prior drilling in this section of the belt relative to the southern section (see the accompany detailed project level introduction).

Over 160Moz gold equivalent (MinEx Consulting, Richard Schodde) has been defined in the southern section of the Macquarie Arc and magnetics highlights the largest volcano-intrusive complex of the Macquarie Arc that sits under post mineral cover to the north (within the NJNB).

Kincora was the early mover into the region, which is within a structural jog along the Junee-Narromine belt. This jog and cross-arc structures are favorably comparable to the Lachlan Transverse Zone and other NW-SE lineaments that have often been interpreted as fundamental controls on the formation of the porphyry related mineralized systems in the Macquarie Arc (e.g., Cadia, Boda-Kaiser, Cowal and Marsden).

The NJNB offers new district-scale discovery potential with spatial and temporal settings, coupled with magnetics, supportive of large-scale targets analogous to other porphyry deposits located in the southern section of the Macquarie Arc.

The potential of the NJNB is beginning to be recognized as it compares extremely favorable to other global porphyry hot spots for exploration and development. This district is now fully pegged by Kincora, Fortescue Metals Group (“FMG”) and Inflection Resources.

In June 2023, Inflection Resources closed an earn-in agreement with Anglo-Gold Ashanti for multiple-year, multiple stage exploration earn-in for up to $145 million for its Macquarie Arc project portfolio, which also provides a very attractive direct peer group valuation and proof of concept for Kincora’s NJNB portfolio.

In July 2023, Inflection Resources commenced a two rig drilling program at its Duck Creek discovery, which is located within 2.5km of Kincora’s Nyngan license boundary. The commenced program is for up to 35,000 metres and is designed to test 20 other targets within the Duck Creek license adjacent to the Nyngan license.

Kincora has designed drilling programs to test six separate intrusive complex targets focused on large intrusives with cross-arc structures, all of which have never been drill tested.  Discussions and negotiations with potential asset level partners continue.