Kincora increases Lachlan Fold Belt foothold

¹ Sourced: Public access file - 1997 annual report from Burdekin Resources NL for EL4996 Nyngan

Criteria

JORC Code explanation

Commentary

Sampling techniques

• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
• Aspects of the determination of mineralisation that are Material to the Public Report.
• In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information

• Kincora Copper Ltd. is the operator of the Mulla Project, having applied directly to the NSW State Government for a new exploration license (ELA6304), and has reviewed previous public file historical exploration activities and results.
• Previous air core and mud-rotary drilling with diamond core tails was conducted in Mulla project area by BHP and Burdekin Resources NL.
• Groundwater from existing bores were sampled and analysed for a wide range of elements with two programs of note, the "Discovery 2000" water bore hydro-geochemical sampling program by the then NSW Department of Mineral Resources which was followed up by Burdekin Resources NL.
• One or two metre composite samples were taken from the RAB and Diamond drilling.
• Regional airborne geophysical data is publically available over the project area.
• Previous public file data and results are available from MinView (minview.geoscience.nsw.gov.au) and DIGS.

Drilling techniques

• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).

• Historic drilling on Kincora projects used a variety of methods including air core, mud-rotary, and diamond core.
• The last drilling program at the Mulla project commenced in September 1996. The drilling Contractor was Anderson Drilling of Orange, NSW. The rig employed was a new UDR-650 multi-purpose rig, fitted with a Sullair 900cfm x 350 psi air compressor. Drilling method used was aircore, using 4.5-inch rods and both clay and coring bits. Drilling was done dry, or with water injection as and when required. Later holes were drilled using an Edson 3000 aircore rig, with NQ diamond tails drilled using an Investigator Mk V rig.

Drill sample recovery

• Method of recording and assessing core and chip sample recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure representative nature of the samples.
• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• Drill Core recovery was logged in diamond drilling tails only in historical drilling.
• Core recovery ranged between 42-100%.

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
• The total length and percentage of the relevant intersections logged.

Drilling program:

• All historical Aircore, RAB and diamond holes are geologically logged for their entire length including lithology, sample color, alteration and mineralisation.

Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of the material being sampled.

Ground water analysis program:

• Water bore samples were collected by two means: (1) where windmills, or electric pumps were fitted to bores, freshly pumped samples were collected directly from the outlet pipe, and (2) where open bores were to be sampled, a special bailer was lowered down the bore by hand, and a water sample collected 5 metres below the standing water level.
• Waters were collected in 2 x 1 litre polythene bottles, and 1x 0.5 litre polythene bottle.

Drilling program:

• For drill holes, samples were airlifted to the surface by compressed air, whilst the rod string was at the bottom of the hole. This gave rise to a very muddy sample, but for most samples, settling of the clays took place in 15 to 20 minutes, allowing a clear sample to be decanted into sample bottles. Some changes in the chemical properties of the waters may have occurred during this process. When samples could not be collected immediately after completion of drilling, the holes were sampled using the special bailer.
• No duplicate samples were taken.

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
• Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

Ground water chemistry program:

• All drill holes waters were sampled, and dispatched to the CSIRO Mineral Development Laboratories in North Ryde for chemical analysis.
• The carbon is ultimately analysed by INNA methods, and the gold content of the water sample can be very accurately determined.
• Sample were used for analysis of about 52 elements by ICP-OES and/or ICP-MS at CSIRO Mineral Development Laboratories in North Ryde for analysis.

Bedrock chemistry program:

• Drill holes that intersected basement rocks were sampled for chemical analysis. In all cases, a short interval of cover rocks sitting immediately above basement was also sampled. Samples were dispatched to ALS laboratories in Orange for analysis. Elements measured were Au, Cu, Pb, Zn, Ag, As, Fe, Bi, Ca, Mg, Mo, Ni and Sb, using method PM-205 for Au and IC-205 for all other elements.

Verification of sampling and assaying

• The verification of significant intersections by either independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data.

• All data are verified during the exploration programs.
• No twinned holes have been completed.
• The intercepts have not been verified by independent personal.
• Logging data is captured manually and stored in a hardcopy.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.

• A handheld GPS was used to locate each sample point. Accuracy of +/- 5m is considered reasonable.
• Collar positions are set up using a hand-held GPS.
• Grid system used is the Australian Map Grid Zone 55, AGD 66 datum.

Data spacing and distribution

• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
• Whether sample compositing has been applied.

• Other historic drilling on Mulla project was completed at various drill hole spacings and no other projects have spacing sufficient to establish a mineral resource.

Orientation of data in relation to geological structure

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• No orientation data was collected during the historical drilling programs.

Sample security

• The measures taken to ensure sample security.

• All samples were selected by geologists in the field and then delivered directly to the laboratory.

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.

No audits were conducted on the historical datasets.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

• Kincora holds two granted exploration licenses and one exploration license application in NSW, and rights to a further six exploration licenses through an agreement with RareX Limited (RareX).
• EL8222, EL6552, EL6915, EL8960, EL6661 and EL7748 are in a JV with RareX where Kincora has a 65% interest in the respective 6 licenses and is the operator /sole funder of all further exploration until a positive scoping study or preliminary economic assessment ("PEA") on a project by project basis. Upon completion of PEA, a joint venture will be formed with standard funding/dilution and right of first refusal on transfers.
• EL8502 and EL8929 are granted exploration licenses wholly owned by Kincora.
• ELA6304 is an exploration license application wholly owned by Kincora.
• All licenses are in good standing and there are no known impediments to obtaining a Licence to operate.

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.

• All Kincora projects have had previous exploration work undertaken.
  The review and verification process for the information disclosed herein and of other parties for the Mulla Project has included the receipt of all publically available open file material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.
  Further details of exploration efforts and data of other parties for licenses EL8222, EL6552, EL6915, EL8960, EL6661, EL7748, EL8502 and EL8929 are provided in the March 1st, 2021, Independent Technical Report included in the Company's ASX listing prospectus, which is available at:
• https://www.kincoracopper.com/investors/asx-prospectus

Geology

• Deposit type, geological setting and style of mineralisation.

• The Nyngan (and Walgett) 1:250,000 map sheet areas cover the Mulla Project (ELA630) and are situated predominantly in the Coonamble Embayment, which is the shallow, southern continuation of the Surat Basin. Palaeozoic rocks of the Lachlan fold belt form the basement to the Coonamble Embayment. These Palaeozoic rocks comprise parts of five structural zones (interpreted from geophysical data) which contain distinctive geology and tectonic style (Schiebner & Basden 1996). The Mulla project lies wholly within the Girilambone Zone of Schiebner & Basden (1996) and comprises multiply deformed metasediments and greenstones (ultramafic) of Cambro-Ordovician age. The Nyngan Igneous complex has been intruded into this substrate in mid Silurian times, and its orientation and emplacement may have been controlled by the "Nyngan Transverse Zone" of Hilyard et al. (1996). This zone parallels the Lachlan River Lineament of Scheibner and Stevens (1974) some 120 kms to the south. This latter lineament is considered to be a fundamental structure, and it is possible that the Nyngan Transverse Zone has a similar character.

Drill hole Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
• easting and northing of the drill hole collar
• elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
• dip and azimuth of the hole
• down hole length and interception depth
• hole length.
• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

• Detailed information on historic drilling at the Mulla project is given in the body of the report.

Data aggregation methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
• Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• N/A

Relationship between mineralisation widths and intercept lengths

• These relationships are particularly important in the reporting of Exploration Results.
• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., 'down hole length, true width not known').

• Due to the uncertainty of mineralisation orientation, the true width of mineralisation is not known at the Mulla project.
• Intercepts from historic drilling reported at other projects are also of unknown true width.

Diagrams

• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

• Relevant diagrams are included in the body of the report.

Balanced reporting

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

• Intercepts reported for historic drilling at the Mulla project are zones of anomalous results as reported by previous explorers within unmineralized or weakly anomalous material.

Other substantive exploration data

• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• No other exploration data is considered material to the reporting of results at Mulla. Other data of interest to further exploration targeting is included in the body of the report.
• Historic exploration data coverage and results are included in the body of the report for Kincora's other projects.

Further work

• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• Further exploration and drilling is proposed to follow up previous results at the Mulla project and the Company plans to drill other project areas that have complementary but insufficiently tested geochemistry and geophysical targets with the aim to find: (a) and expand near surface copper-gold skarn mineralization overlying or adjacent to (b) underlying copper-gold porphyry systems.