Kincora Copper Limited (ASX: KCC) has executed a major amendment to its existing Earn-in and Joint Venture Agreement with a wholly owned subsidiary of AngloGold Ashanti plc, paving the way for a significant expansion of copper-gold exploration in the Northern Junee-Narromine Belt (NJNB) of the Macquarie Arc, Central West, New South Wales, Australia.

The amended agreement establishes a second joint venture between the two companies, supporting up to $100 million in total exploration expenditure.

The partnership now covers a continuous corridor of more than 100 kilometres, incorporating five key projects: Nyngan, Nyngan South, Nevertire, Nevertire South, and Mulla.

This region is globally recognised for its potential to host new district-scale porphyry copper-gold deposits, similar to the renowned Cadia-Ridgeway system.

Key terms of the amended agreement

• Stage 1: AngloGold Ashanti may earn a 70 per cent interest in the new tenements by investing $25 million over up to seven years, with a minimum $2 million commitment in the first two years.
• Stage 2: AngloGold Ashanti has the option to increase its stake to 80 per cent by either completing a pre-feasibility study or providing an additional $25 million over three years.
• Kincora Copper will remain the operator for all projects, receiving a 10 per cent management fee on all expenditures, supporting its self-funding business model.
• The agreement covers a combined area of over 2,350 square kilometres, streamlining exploration across the NJNB.

Drilling is already underway at the Nyngan project, with preparations for initial drilling at the highly prospective Nevertire and Nevertire South projects.

These projects are considered particularly promising due to their geological similarities to major copper-gold deposits in the region.

Previous exploration at Nevertire South has identified mineralisation and geological features consistent with settings like Cadia-Ridgeway, further boosting the district’s potential.

With over $110 million in potential asset-level funding secured, Kincora is actively negotiating additional large-scale partnerships.

The expanded agreement with AngloGold Ashanti positions Kincora to aggressively pursue major discoveries and supports its ambition to establish a self-funding exploration model through third-party management fees.

This partnership represents one of the largest current exploration initiatives in Australia’s premier porphyry copper-gold province.

It consolidates Kincora’s position as a leading explorer in the Macquarie Arc and underscores the global interest in the NJNB’s untapped mineral potential.

Pending ministerial consent, the expanded exploration program will proceed with accelerated drilling across the consolidated project area, aiming to unlock new district-scale copper-gold discoveries in one of Australia’s most prospective mineral belts.