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Kincora Copper soars on fresh assay results

Mon 18 Jul 22, 3:14pm (AEST)
A technician holds a piece of ore with copper mineralisation present
Source: File photo

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Key Points

  • Move comes as company announces new assay results from Trundle project
  • Company has hit its highest grade yet
  • Kincora Copper’s share price up 15% to 6.2c

Kincora Copper (ASX:KCC) shares are retaining mammoth gains in mid afternoon trade as the company soars to 6.2c on fresh assay results. 

The company has today revealed its highest ever grades of copper hit at the Trundle project yet with a pocket of copper mineralisation at 2.32%. 

Investor information service Undervalued Equity notes copper densities of over 1.5% are considered high grade. 

Portions of Kincora’s assay results announced today well exceed that cut-off; the company has also expanded its mineralised zones of interest to a 660m wide exploration area. 

Don’t forget about the gold 

Copper isn’t the only thing prospective at Trundle.

Kincora also reports gold grades of up to 12.6g/t, which land in the mid-grade range for gold.

Kincora continues to develop its recently identified shallow gold target called the North-East Gold Zone, which is part of the larger Southern Extension Zone (SEZ) at Trundle. 

The SEZ boasts the company’s flagship copper results announced today. 

A further set of assay results are pending for the company’s Mordialloc North-East prospect. 

All prospects overlie the NSW’s prolific Lachlan Ford Belt. 

Where to from here?

Today’s news might be an inflection point for Kincora, which has been slammed so far through 2022. 

One year returns are down -74%.

With future assay results pending and more exploration to be undertaken at the shallow gold zone, Kincora may have more good news to share fairly soon. 

Does today's news from Kincora mark an upward reversal for sentiment?
Does today's news from Kincora mark a turnaround in sentiment?

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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