Kincora Copper teams up with AngloGold Ashanti

29th May 2024 Kincora Copper teams up with AngloGold Ashanti

Joint Venture

Kincora Copper has informed in its recent press release that it executed a definitive multi-phase Earn-in and Joint Venture Agreement with AngloGold Ashanti . This partnership focuses on wholly-owned Nyngan and Nevertire licenses in the NJNB of the Macquarie Arc.

John Holliday and Peter Leaman commented: „We are excited to partner with AngloGold, whose support brings the capital, technical expertise, and belt-scale capacity needed to aggressively drill and realize the potential of Kincora’s district-scale land position. This virgin exploration territory with huge upside potential offers Cadia-scale discovery opportunities. AngloGold, a successful greenfield explorer, shares our vision for the NJNB as a new district for Tier-1 gold-rich copper porphyry system discoveries.

We look forward to starting on-ground exploration and testing large-scale targets across both the Nyngan and Nevertire licenses.”

Key points

Key Terms of the Agreement:

  • AngloGold may earn a 70% interest by investing A$25 million in exploration over seven years, with a minimum expenditure of A$2 million in the first two years. A joint venture will be formed after this period.
  • AngloGold can earn an additional 10% (total 80%) by completing a Pre-Feasibility Study (PFS) or funding another A$25 million over three years.
  • Exploration Management: During the Minimum Obligation period, Kincora will conduct all exploration activities and earn a 10% management fee.

About Kincora

Kincora was the early mover into the Northern Junee-Narromine Belt (NJNB), securing a district-scale portfolio of the most prospective parts of the Macquarie Arc’s northward extension. This area, comparable to the Lachlan Transverse Zone, offers significant discovery potential with settings supportive of large-scale intrusive complexes. Despite limited prior drilling in the northern extensions, the mature southern regions host over 160Moz gold equivalent and several world-class mines like Cadia, Cowal, and Northparkes.

This agreement marks a significant step forward in unlocking the potential of this underexplored territory. 

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