Kincora Copper (ASX:KCC) and AngloGold Ashanti (NYSE:AU) have expanded their drilling program within the Northern Junee-Narromine Belt (NJNB) in New South Wales, Australia, following encouraging initial results. The companies will drill an additional four holes at the Nyngan Project, building on the 15 holes and 6,197.3 meters already completed. Positive data from the first six holes of 2024’s final quarter prompted the expansion to broaden the coverage across target areas. A 400km² ground gravity survey identified new drilling targets, with several holes showing alterations and anomalous copper.
AngloGold Ashanti has committed up to $100 million to Kincora’s NJNB Project, increasing from the initial $50 million. This investment covers the Nyngan South, Nevertire South, and Mulla projects, adjacent to the original Nyngan and Nevertire sites. Kincora receives a 10% management fee as part of the partnership, providing income during the exploration phase. Drilling is scheduled to continue at the Nyngan, Nevertire, and Nevertire South projects into the fourth quarter. The rig is expected to move from Nyngan to Nevertire and back, supporting drilling until the end-of-year summer break.
