Announcement • Sep 05

Kincora Copper Limited Announces Exploration Strategy Update with Drilling Planned Across Four Projects

Kincora Copper Limited has provided an update on planned sole funded exploration over the upcoming Spring and Summer field season including over 25,000 metres of air-core drilling across four projects in Central West NSW, Australia. The programs align with the Company's hybrid prospect generator model, under which partners fund the majority of exploration expenditure with Kincora generating large-scale porphyry system targets. The air-core programs complement ongoing asset-level partner discussions and are expected to add scale and value while upgrading Kincora's geological concepts. Sole funded budget of up to AUD 3 million. Board approval for extensive air-core drilling seeking to systematically and cost effectively advance 17 targets across four projects (Nyngan West, Fairholme, Cowal East and Trundle) expanding existing known mineralised porphyry systems and testing of new targets. Kincora's net cash position is forecast to further increase in both September and the December quarter with further receipt of proceeds from the USD 10 million divestment of our Mongolian projects. Kincora's last reported cash balance was AUD 12 million. Programs for 340 holes and over 25,000 metres. Nyngan West: Maiden drilling across both ultramafic and Macquarie Arc porphyry targets. Fairholme: Seeking to expand a structurally controlled gold system at the Gateway target from a 1.6km to 2.6km strike, advance the adjacent Dungarvan target and expand three porphyry copper system targets in the northern portion of the license. Maiden drilling proposed across the strategically located southern Nerang target. Cowal East: Series of drill lines across six targets stepping out from two known intrusive systems and maiden drilling of regionally significant geophysical anomalies. Trundle: Very shallow drilling across a total of 19km2 area in the north, south and Dunns section of the project seeking to replicate the success of similar programs at the Northparkes project that have led to multiple porphyry copper-gold deposit discoveries situated within the same interpreted caldera. Condobolin update: Full assay results pending for the completed 9-hole, 2,615 metre program with localised higher-grade gold and base metals. Independent review proposed to confirm interpretation of a Reduced Intrusion System geological target model and refine follow up. Kincora continues to review a pipeline of new opportunities where it has a competitive advantage to add shareholder value including recent claim extensions of targets at the Fairholme and Cowal East projects. The Company is proactively utilising Geomorphic AI's proprietary system in the review process with thirty reviews undertaken to date. Eight projects in total, including the Northern Junee Narromine Belt project funded by and in partnership with AngloGold Ashanti where drilling is ongoing. Recent diamond drilling has taken place at the Condobolin project, results pending, with air-core drilling proposed at the Nyngan West, Fairholme, Cowal East and Trundle projects. As part of Kincora's ongoing portfolio review process, the Company's Technical Committee has evaluated the exploration and corporate strategy for each of its wholly owned NSW projects, with a focus on systematically advancing opportunities and generating shareholder value. These reviews consider both technical and commercial factors in-line with the Company's hybrid prospector generator model, under which the majority of exploration expenditure is funded by asset level partners. Kincora's role is to secure prospective ground and undertake earlier stage, lower cost exploration activities to advance and validate geological concepts ahead of larger-scale drilling programs. Recent internal and independent reviews across the portfolio have identified significant open and highly prospective areas within various wholly owned projects where extensions of mineralisation and/or open geophysical anomalies currently lack sufficient coverage to support deeper drilling. All targets and projects are ranked and compete for capital and resources, taking into account technical merit and operational considerations. From this process 17 targets have been prioritised for drilling during the upcoming Spring and Summer field season, when ground conditions and access are generally favourable for air-core drilling. As discussions with potential partners advance around earn-in and joint venture funding models capable of supporting multi-year, multi-phase drilling, Kincora has also pegged open ground adjacent to priority targets at the Cowal East and Fairholme projects. The Company is now seeking to sole fund over 25,000 metres of air-core drilling at four projects. These programs are in addition to ongoing partner-funded drilling with AngloGold Ashanti, which has been underway since the 2025 end of year holiday break. Air-core drilling is a fast and cost-effective technique for collecting basement samples under shallow cover to test and refine target areas mapping mineralisation, alteration, lithology and depth. These results help generate, test and refine targets and this technique has been a key phase in many significant discoveries in the Lachlan Fold Belt. The spacing of Kincora's programs are reflective of the nature of the target, stage of exploration at the target and seeking to gain coverage over significant geophysical anomalies to help refine and determine where more detailed and expensive drilling is warranted. The Nyngan West project includes a single large licence (207.4km2) with no outcrop and has not previously been drill tested or basement rocks sampled. The project is prospective for two different mineral systems and is located to the immediate west of the Company's Nyngan project which is included in an earn-in and joint venture agreement with AngloGold Ashanti where drilling is ongoing testing maiden porphyry system targets. The program at Nyngan West is expected to be completed before year end.

Kincora Copper Limited Stock Price

KCC Share Price Performance

KCC Community Narratives

Trending Discussion

Recently Updated Narratives

Snowflake Analysis

Kincora Copper Limited Key Details

About KCC

Recent KCC News & Updates

Kincora Copper Limited Announces Exploration Strategy Update with Drilling Planned Across Four Projects

New major risk - Financial position

Here's Why We're Watching Kincora Copper's (CVE:KCC) Cash Burn Situation

Recent updates

Kincora Copper Limited Competitors

Excellon Resources

LibertyStream Infrastructure Partners

Abitibi Metals

GR Silver Mining