- Kincora Copper (KCC) receives a $100,000 co-funding grant to launch its next phase of drilling at the Southern Extension Zone discovery within its Trundle project in New South Wales
- The grant falls under the latest New Frontier Exploration program by the New South Wales State Government
- The awards follow a “competitive” expert panel review process of applications, which Kincora says were in high demand
- The grant supports the first direct drill hole to follow up on the interpreted porphyry source that delivered 19.9 grams per tonne (g/t) and 2.43 per cent copper, marking the largest mineralised skarn system in the state
- Kincora Copper was up 11.11 per cent and trading at 7 cents at 12:09 pm AEDT
Kincora Copper (KCC) has been awarded a $100,000 co-funding grant to launch its next phase of drilling at the Southern Extension Zone discovery within its Trundle project in New South Wales.
The grant falls under the latest New Frontier Exploration program by the New South Wales State Government.
The funds were awarded on the technical merits of the first direct follow-up hole to the highest primary mineralisation to date at the Trundle project in the Lachlan Fold Belt.
The grant supports the first direct drill hole to follow up on the interpreted porphyry source that delivered 19.9 grams per tonne (g/t) and 2.43 per cent copper, marking the largest mineralised skarn system in the state.
The grant follows a competitive expert panel review process, with the money non-dilutionary and funds all direct costs of drilling on a matched dollar-for-dollar basis.
Kincora previously secured just under $400,000 for its Fairholme, Jemalong and Nevertire projects at the start of 2022, along with a further $120,000 locked in for its Nyngan project in 2021. Kincora holds roughly $500,000 of cooperative funding drilling grants that are expected to be dished out in the next 12 months.
“We thank the State Government and Geological Survey of NSW for the direct financial support to Kincora and the wider industry via the New Frontiers Exploration Program and $130 million Critical Minerals and High-Tech Metals Activation Fund,” Kincora President and CEO Sam Spring said.
“The awards follow a competitive expert panel review process of applications, which were again in high demand.
“We feel this provides another independent validation of the emerging and very exciting Southern Extension Zone discovery at our flagship Trundle project.”
Kincora Copper was up 11.11 per cent and trading at 7 cents at 12:09 pm AEDT.