Press Releases

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]

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