Kincora Copper's (ASX: KCC) exploration alliance partner Earth AI has commenced its maiden drilling programme at the Cundumbul Project in central NSW testing a number of new copper targets.
“After multiple field-based campaigns refining Earth AI’s artificial intelligence model and geological theses the commenced diamond drilling programme is an exciting catalyst in our success based exploration alliance and provides Kincora shareholders exposure to a fully funded, new discovery focused opportunity," Kincora President and CEO, Sam Spring, said.
"Prior explorer activities and limited drilling has confirmed fertile porphyry systems in both the north and south of Cundumbul located over 10km apart.
"The initial new drill targets of this first phase programme by Earth AI are associated with a newly identified zoned mineralised hydrothermal quartz breccia system in the previously untested central eastern portion of the project.
“The hydrothermal quartz breccia system is open, already stretches over 1.8km, and the commenced program seeks to provide initial guidance on the down-hole extent and grade as plans are being advance to test further targets along strike.”
The Earth AI team has undertaken multiple phases of field work to build a greater understanding of the Cundumbul project’s geology and applying their proprietary approach for identifying and refining targets via ground truthing AI and machine learning predictions.
Diamond drilling, utilising Earth AI’s low cost Mobile Low Disturbance (MLD) diamond rig, is now underway to test their new geological thesis and targets that have been defined in the central portion of the project. Multiple phases of mapping, petrographic studies, and soil and rock chip analysis have been completed and identified a pipeline of new targets.
The commenced initial drilling program seeks to a 750m strike of anomalous surface copper associated with a zoned hydrothermal quartz breccia system mapped along a 1.8km strike (and open) within a 2.2km N-S x 800 W-E anomalous copper zone (and open).
A field mapping, soil and rock chip sampling programme, and planning and permitting for a second phase drill program, is ongoing to test both north and southern strike extensions, and open zones to the west and east, including higher grade surface geochemical anomalies (including rock chips of 5.2% Cu, 3.2% and 1% Cu, and, up to 0.56g/t Au).
The “success based” Exploration Alliance between Kincora and Earth AI is unlike a “classic earn-in and JV model”, with Kincora retaining 100% project ownership and Earth AI gaining a royalty only upon a new discovery (qualifying intercept).
