Kincora Copper Condobolin Project Exploration Accelerates in Historic NSW Mining Field

Kincora Accelerates Exploration at Historic Condobolin Mining Field

Airborne Survey and Drilling Program Set to Revitalize Gold-Silver-Base Metals Project

Kincora Copper (ASX & TSXV: KCC) has launched a comprehensive exploration campaign at its wholly-owned Condobolin project in NSW's Cobar Basin, mobilizing an airborne electromagnetic (AEM) survey spanning approximately 155km² of the historic mining field. This strategic move comes as the company expands its project footprint by 90km², increasing the total project size by a third to 297km².

The campaign targets extensions of the Meritilga discovery, which has previously yielded impressive high-grade gold-silver-base metal intercepts, including 4m @ 20g/t gold and 30.2g/t silver from 75m. With gold prices approaching A$6,000/oz, nearly quadruple the levels when the project was last actively explored, Kincora is well-positioned to capitalize on this historic mining district.

"We are pleased to commence exploration at our wholly owned Condobolin project at a time of significant exploration, development and corporate success in the southern and lesser explored section of the Cobar Basin," commented John Holliday, Technical Committee Chair, and Peter Leaman, VP of Exploration.

Targeting High-Grade Potential in Underdeveloped Mining District

The Kincora Copper Condobolin project exploration is focused on the southern Cobar Basin, which has seen limited modern exploration despite a 150-year history of high-grade mining. The project area was historically home to approximately 25 informal open pit operations peaking in the late 1800s-early 1900s, with mining activities limited by water table issues and exploration hampered by the weathering profile.

What makes this project particularly attractive is that approximately 20% of the wider project area is outcropping, with the average depth of cover in non-outcropping areas less than 5 meters—making for very cost-effective exploration. Remarkably, 98% of historic mineral occurrences are within 200m of outcrop, yet the area has not been effectively explored below the weathered zone of approximately 30m.

The project benefits from existing infrastructure and lies approximately 40km south of the Mineral Hill mill, making it strategically positioned for potential future development.

Multi-Phase Exploration Program Underway

Kincora's fully-funded exploration campaign includes:

1. Airborne Electromagnetic Survey: Covering over 800 line-kilometers using Expert Geophysics' TargetEM26 system to generate new near-surface targets and refine existing mineralized systems

2. High-Impact Drilling Program: Preparations have begun for up to 15 diamond drill holes totaling 4,100 meters at the Meritilga target, testing down-dip and strike extensions

3. Alluvial Gold Potential Assessment: Review of previous drilling in the Tilga paleochannel, which yielded significant gold values including 1m @ 28.4g/t gold in gravels and 3.99g/t gold in basement

This systematic approach mirrors successful exploration techniques that have yielded major discoveries in the northern section of the Cobar Basin, including Federation, Achilles, Mallee Bull, Southern Nights, and Wagga Tank.

Understanding Airborne Electromagnetic (AEM) Surveys

Airborne electromagnetic surveys represent one of the most efficient modern exploration techniques for identifying mineral systems under cover. These surveys measure variations in the electrical conductivity of rocks below the surface by generating electromagnetic fields from an aircraft and measuring the response.

In mineral exploration, AEM is particularly valuable for detecting:

• Conductive sulfide minerals often associated with gold and base metal deposits
• Geological structures that may control mineralization
• Variations in rock types that may host economic deposits

For investors, the significance of AEM surveys lies in their ability to generate multiple drill targets efficiently and cost-effectively across large areas, potentially leading to new discoveries beneath shallow cover that were missed by previous explorers.

The Meritilga Target: Primed for Expansion

The Meritilga target represents one of the most promising aspects of the Condobolin project. Discovered by Clancy Exploration (now RareX Limited) in 2012, it hosts a gold-silver-base metals system within a lode containing high-grade mineralization and a lower-grade halo.

Key historical intercepts include:

• 4m @ 20g/t gold, 30.2g/t silver from 75m (including 1m @ 62g/t gold, 60g/t silver)
• 43m @ 2.2g/t gold, 196g/t silver, 3.6% Pb + Zn
• 10m @ 5.8g/t gold (including 4m @ 14g/t gold)

The upcoming diamond drilling program will test:

• Down-dip extensions (up to 350m depth)
• Strike extensions
• Potential for repeat high-grade lenses or stacked series of lenses

This is particularly significant as many similar mineral systems in the Cobar Basin are known to be vertically extensive with repeat lodes, such as the CSA mine (recently acquired by Harmony Gold for A$1.6 billion in a takeover of MAC Copper).

Why the Cobar Basin Matters to Investors

The Cobar Basin has recently witnessed significant corporate activity and new discoveries that highlight its importance as a mineral province:

• Harmony Gold's A$1.6 billion takeover of MAC Copper (MAC.ASX)
• Kingston Resources' (KSN.ASX) A$50 million cash receipt for the first tranche of its Misima project divestment
• Australian Gold and Copper's (AGC.ASX) new potential district-scale discovery at its Achilles target

These developments underscore the value potential in the region, particularly in the southern and lesser-explored sections where Kincora's Condobolin project exploration is currently focused.

Kincora's Unique Position and Strategy

Kincora Copper has positioned itself as a gold-copper explorer and hybrid project generator with a growing presence in Australia's premier mineral belts. The company has:

• Unlocked over $100 million of potential partner funding for multiple earlier-stage projects
• Secured over A$6.5 million in partner-funded exploration since late 2024
• Established a portfolio of partner-funded large porphyry projects

The company's strategy allows it to maintain focus on high-potential wholly-owned assets like Condobolin while leveraging partner funding for other projects in its portfolio.

Why Investors Should Follow Kincora

For investors seeking exposure to precious and base metals exploration, Kincora presents a compelling opportunity for several reasons:

1. Strategic Asset Portfolio: Presence in world-class geological terrains hosting Tier-1 mines

2. Capital Efficient Approach: Hybrid project generator model minimizes dilution while maximizing exploration potential

3. Near-Term Catalysts: Active exploration programs with multiple potential discovery opportunities at Condobolin

4. Commodity Exposure: Well-positioned to benefit from near-record gold and silver prices

5. Technical Expertise: Leadership team with proven discovery track records

With exploration activity accelerating at Condobolin and the potential for significant news flow in the coming months, Kincora represents an intriguing opportunity for investors seeking exposure to gold-silver-base metals exploration in a proven mining district experiencing a renaissance of exploration success.

Want to Capitalise on Kincora's Gold Discovery Potential?

Discover why Kincora Copper's accelerated exploration at the historic Condobolin mining field could be a game-changer for investors. With gold prices approaching A$6,000/oz and a comprehensive exploration campaign targeting high-grade extensions, now is the perfect time to learn more about this strategic opportunity in NSW's Cobar Basin. Visit Kincora Copper's website for detailed information on their exploration progress, project portfolio, and investment potential.