- RareX (REE) has been advised that the second diamond hole drilled at the Trundle Project has intersected significant porphyry mineralisation
- The Trundle Project lies within the Mordialloc target in New South Wales
- RareX holds a 35 per cent free carried interest in the project, while Kincora Copper holds the remaining 65 per cent
- While extensive drilling has been conducted by previous explorers, this was mainly surface level, which presents significant potential for deeper drilling
- Kincora will now conduct further drilling as part of its ongoing six-hole program to unlock further mineralisation
- Company shares are up 10 per cent and are trading for 6.6 cents each
RareX (REE) has been advised that the second diamond drill hole of the maiden drilling program at the Trundle Project has been completed at a 790 metre depth.
The Trundle Project lies within the Mordialloc target and is located 30 kilometres west of the China Molybdenum Company-operated Northparkes Copper-Gold Project, in New South Wales.
Previous drilling has been extensive with the completion of 2208 holes for 61,146 metres however deeper drilling using modern exploration methods has been very limited.
RareX holds a 35 per cent free carried interest, while Kincora Copper holds the remaining 65 per cent.
“Historically at Trundle, over 60,000 metres have been drilled, but over 92% of these holes have been within the top 50 metres to surface, a depth that the existing major mines in this belt suggest is just too shallow,” Kincora Technical Committee Chairman John Holliday said.
The second hole, TRDD002, intersected strong halo indicators of a mineralised porphyry intrusion system confirming the targeted geological setting. These include significant intervals with localised moderate copper grades and inner propylitic zone alteration.
The Mordialloc porphyry target is located about 8.5 kilometres north of TRDD001 which was drilled at the Trundle Park skarn-porphyry target.
Kincora will conduct further drilling as part of its ongoing six-hole program at the Trundle Project. This will follow up on the initial encouraging results at the Trundle Park and Mordialloc targets.
The drill rig is currently testing the Bayleys porphyry target (TRDD003), located just one kilometre northeast of the Mordialloc target, and then will move back to Trundle Park.
Company shares are up 10 per cent and are trading for 6.6 cents each at 10:47 am AEST.