Lachlan Fold Belt Drilling to Commence Targeting Large Scale Copper Gold Porphyry Systems


Highlights


  • RareX recently sold 65% interest in NSW Copper Gold Assets to TSXV listed Kincora Copper

  • RareX retains 35% free carried interest and owns 9.9% of Kincora Copper’s listed equity

  • Kincora Copper to commence fully funded 3,800m drill program comprising 6 deep holes

  • Kincora Copper’s flagship project is Trundle Project (35% RareX) being the only brownfield porphyry project in the Lachlan Fold held by a listed junior

  • Kincora exploration led by John Holliday principal discoverer for Cadia

  • Trundle Project sits within the same system as Northparkes being Australia’s second largest porphyry mine

  • Trundle Project previously owned by: - Newcrest (1990’s & early 2000’s) – no drilling below 200m depth - HPX (2015, Robert Friedland Chaired) – drilled one hole prior to market downturn

  • Historic drill intercepts at Trundle Project include: - 60m @ 0.54g/t Au from 1m - 56m @ 0.88g/t Au, 0.35% Cu from 34m - 51m @ 0.58 g/t Au, 0.14% Cu from 33m

  • Trundle Project remains untested at depth with only 0.5% of historic drilling below 300m

  • Drill program targeting discovery of new cluster of porphyry deposits

  • Target concepts include: - Cadia-Ridgeway (50m Oz Gold and 9.5Mt Copper, 100% Newcrest)1 - Northparkes (5.5m Oz Gold and 4.5Mt Copper, 80% China Moly, 20% Sumitomo)2 - Boda (1167m @ 0.55g/t Gold, 0.25% Copper, 100% Alkane)3


View Full ASX Announcement Here




FOR THE LATEST AND UP-TO-DATE AFRICAN GOLD LIMITED ASX RELEASES & NEWS

SUBSCRIBE 

© African Gold Limited