In February 2024, Kincora pegged the Wongarbon project (ELA6708), covering 172.8km², located on the shallow to moderately covered extension of the Molong Belt of the Macquarie Arc (the eastern major parallel belt to the Junee-Narromine belt). The Wongarbon project has never been drilled and hosts compelling drill ready and large scale porphyry copper-gold targets reaffirmed by recent geophysical interpretations and inversions.

 

The Wongarbon Magnetic Complex is interpreted to be a composite volcanic and intrusive complex such as Cadia, Copper Hill and Boda-Kaiser on the Molong Belt, with analogous aeromagnetic signatures to other Macquarie Arc porphyry complexes (eg Cadia, Cowal, Northparkes, Boda-Kaiser, Marsden etc). The project was previously identified by Newcrest in 1996, target depth 300-400m, but not drill tested at the time due to higher priority NSW targets driven by the Cadia Far East and Ridgeway discoveries.

 

Recent magnetic inversion indicates that the main southern magnetic feature and high priority drill targets at the Wongarbon project is sourced by rocks in the basement beneath about 350-400m of cover, thus reaffirming the Newcrest estimate.

 

The project is situated on a linear parallel structure of the Molong belt (<10km from outcropping volcanics) and a coincident oblique cross arc structural corridor (the “Dubbo” transverse corridor) along strike from Alkane’s Northern Molong Porphyry Project (“NMPP”, resources >15Moz AuEq at the Boda and Kaiser deposits).

 

The immediate region has been recognized as a new geoscience frontier by the Geological Survey NSW as Group 1 Mineral Allocation Area and the Wongarbon project is located as close as 10km from Alkane’s drilling within the current 15km mineralised structural corridor associated with the Dubbo transverse at its NMPP.