Northwire Canada EditionSaturday, November 14, 2026
Northwire
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Gold 3,886.30 +0.0% Silver 49.12 −1.9% Copper 6.09 −1.7% Oil 88.56 −0.2% Palladium 1,007.60 +1.6% PPTA 25.29 −0.6% AIR 0.050 −9.1% PMX 0.055 +0.0% CCMC 0.340 +0.0% PPM 0.095 +0.0% BMR 0.165 +0.0% S 0.175 +0.0% STGO 1.37 −2.8% GRDM 0.180 +0.0% CRI 0.015 +0.0% CN 0.120 +0.0% BTT 0.100 −13.0% AUXX 5.07 −2.9% CLV 0.120 + VUL 0.360 −5.3% LUNR 15.66 −3.1% Gold 3,886.30 +0.0% Silver 49.12 −1.9% Copper 6.09 −1.7% Oil 88.56 −0.2% Palladium 1,007.60 +1.6% PPTA 25.29 −0.6% AIR 0.050 −9.1% PMX 0.055 +0.0% CCMC 0.340 +0.0% PPM 0.095 +0.0% BMR 0.165 +0.0% S 0.175 +0.0% STGO 1.37 −2.8% GRDM 0.180 +0.0% CRI 0.015 +0.0% CN 0.120 +0.0% BTT 0.100 −13.0% AUXX 5.07 −2.9% CLV 0.120 + VUL 0.360 −5.3% LUNR 15.66 −3.1%
Drill Results

Kincora Copper begins drilling at Wongarbon

KCC · Price

Executive Summary

  • Kincora Copper Ltd. has commenced drilling at its Wongarbon porphyry project in the Macquarie Arc, NSW, targeting the first-ever basement geology samples at the site to test a prominent magnetic anomaly interpreted as a gold-copper porphyry target.
  • The initial hole is anticipated to be 650 meters deep and take approximately four weeks to complete, with costs to shareholders capped at less than $100,000 (U.S.) due to a matching grant from the New South Wales state government.
  • The exploration program is supported by a strategic partnership with Fleet Space Technologies, utilizing AI-powered geophysical sensors and multiphysics surveys to optimize drill targeting, with Fleet Space holding the right to earn a minority non-carried interest in the project.

Key Details

  • Drilling Objective: First-ever hole to basement geology at Wongarbon; designed to test a large buried magnetic anomaly interpreted as a gold-copper porphyry target.
  • Geological Context: Target is located within a common transverse structure to the recent 14.7-million-ounce-gold-equivalent Boda and Kaiser porphyry discoveries by Alkane Resources.
  • Hole Specifications: Anticipated depth of 650 meters; expected completion time of approximately four weeks.
  • Drilling Method: Cost-effective mud-rotary drilling for the cover sequence, transitioning to diamond core drilling in basement rocks using NQ-triple-tube-diameter diamond core tail.
  • Funding & Cost:
    • Total anticipated cost to Kincora shareholders is less than $100,000 (U.S.).
    • Supported by a non-dilutional grant of up to $143,483 (Australian) awarded on Oct. 20, 2025, from the NSW Critical Minerals and High-Tech Metals Exploration Program.
    • Grant funds drilling on a matched dollar-for-dollar basis.
  • Strategic Partnership:
    • Multiphase partnership with Fleet Space Technologies utilizing the AI-powered ExoSphere platform.
    • Fleet Space integrates real-time geophysical sensors, proprietary multiphysics surveys, geochemistry, and AI-enabled drill targeting.
    • Fleet Space has the right to earn a minority non-carried interest in the project through drilling activities.
  • Project Background:
    • Wongarbon is a 173-square-kilometre licence covering untested volcano-intrusive complexes of the Macquarie Arc under post-mineral cover.
    • The target was previously prioritized by Newcrest Mining in 1996 before the Cadia-Ridgeway and Far East discoveries.
    • Kincora holds 100% ownership of the Wongarbon licence, pegged opportunistically in 2024.
  • Management Commentary:
    • John Holliday (Technical Committee Chair) describes the target as "virgin territory" with "huge upside," noting it is a standout untested example of the magnetic intrusive complex signatures found in major porphyry deposits.
    • Sam Spring (CEO) highlights the "highly compelling" risk-reward scenario, noting the low cost compared to similar targets in the Americas (> $1 million) and the company's strategy of offering shareholders "multiple shots on goal" with seven different licenses to be drilled within a 12-month horizon.

Notable Quotes

  • John Holliday, Technical Committee Chair: "There is a good chance that the next Cadia-scale deposit in the Macquarie Arc will be found in the covered and underexplored parts of the Lachlan fold belt. This is virgin territory and a major opportunity with huge upside... Wongarbon is a prime candidate for major discovery, and this first hole will provide very valuable information to assist guide follow-up activities."
  • Sam Spring, President and CEO: "Wongarbon is an elephant-scale target located in elephant country... Coupled with last month's funding grant from the NSW government, the risk-reward scenario is highly compelling and unique on a global perspective. The expected cost of less than $100,000 (U.S.) to Kincora shareholders compares exceptionally well to similar nature targets requiring budgets of greater than $1-million (U.S.) in the Americas."
Read the original news release →

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