Kantra Copper Hits 70m at 1.18% Cu Extending Nugent Lode Beyond Current Resource
Key Takeaways
- Underground diamond drilling at Kanmantoo has returned a headline intercept of 70m @ 1.18% Cu + 0.24g/t Au from 507m downhole, extending the Nugent lode 70m below the 2025 Mineral Resource Estimate boundary.
- The Nugent mineralisation now sits 370m below the current stoping horizon at the 950 Level, confirming the system remains geologically open at depth.
- A possible second mineralised lens sub-parallel to the main Nugent structure has been identified at approximately 640m RL, supported by the headline intercept and flagged for follow-up drilling.
- Two drill holes — 26KVUG0958 and 26KVUG0959 — were received after the MRE cut-off date and are excluded from the 2026 resource update, meaning the formal inventory will likely understate current knowledge of the system at depth.
- The 2026 MRE update, incorporating approximately 80,000m of drilling, is scheduled for release in late October 2026 and represents the most significant near-term catalyst for Kantra shareholders.
High-grade copper-gold drilling extends Nugent lode well below current mining horizon
Underground diamond drilling at the Kanmantoo Copper Mine in South Australia has returned high-grade copper-gold intercepts that confirm mineralisation well beyond the current resource boundary. Kantra Copper (ASX: KAN) has announced a headline result of 70m @ 1.18% Cu + 0.24g/t Au from 507m downhole in hole 26KVUG0949, extending the Nugent lode 70m below the 2025 Mineral Resource Estimate (MRE) and 370m below the current stoping horizon at the 950 Level.
The full suite of headline intercepts from Table 1 (Appendix A) of the announcement includes:
- 70m @ 1.18% Cu + 0.24g/t Au from 507m downhole (26KVUG0949) — downhole length, not true width
- 13m @ 0.92% Cu + 0.06g/t Au from 376m downhole (26KVUG0950)
- 7.2m @ 1.12% Cu + 0.09g/t Au from 589.8m downhole (26KVUG0948)
- 7m @ 1.74% Cu + 0.02g/t Au from 530m downhole (26KVUG0947)
- 8.44m @ 0.83% Cu + 0.95g/t Au from 237m downhole (25KVUG0632) — notable for elevated gold content
Bob Fulker, CEO and Managing Director
“These results continue to demonstrate the growth potential of the Nugent lode, with drilling confirming mineralisation well below the current mining horizon and highlighting opportunities to further expand resources at depth.”
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Understanding the Nugent lode — what makes this copper-gold system stand out
The Nugent lode sits on the south-west edge of the Kanmantoo deposit and is structurally controlled, meaning mineralisation follows a single corridor containing discrete pods of high-grade material along its strike. What distinguishes Nugent from other parts of Kanmantoo is its generally higher gold grades, making it a copper-gold (Cu-Au) system rather than a purely copper target.
A Mineral Resource Estimate (MRE) is the formal, JORC-compliant inventory of mineralisation that underpins mine planning. When drilling confirms mineralisation below the MRE boundary, it signals the deposit remains geologically open and has the potential to grow with further work.
The drilling reported here was conducted from underground platforms using Diamond Drill Cuddies (DDCs), which are drill setups within the existing mine workings. This approach allows geologists to test deep extensions of the lode without requiring surface drill infrastructure, enabling targeted reach at significant depth.
What the drilling reveals — depth extensions and a possible second lens
Deep drilling confirms the system 70m below the 2025 MRE
Deep diamond drill fans were collared from the 910 Backfill Stockpile and targeted extensions of the Nugent lode between 600m RL and 480m RL. The results confirm the continuity of the Nugent system 70m below the 2025 MRE, a clear indication that the resource boundary does not represent the geological limit of the mineralised system.
The Saddle Zone — an additional mineralised zone within the broader system — was also intersected in holes 26KVUG0950, 26KVUG0949, and 26KVUG0958 while drilling to target the Nugent lode.
A possible second mineralised lens identified at depth
The announcement also flags a potentially significant structural development at depth. A change in the behaviour of the Nugent structure was identified at approximately 640m RL, and the observed geometry is interpreted to represent a possible second mineralised lens sub-parallel to the main Nugent structure.
This interpretation is supported by the 70m @ 1.18% Cu + 0.24g/t Au intercept in hole 26KVUG0949. Further drilling is planned to test this interpretation and improve understanding of the structural architecture at depth. For investors, that planned drilling programme represents an upcoming catalyst to watch.
| Hole ID | From (m) | Interval (m) | Cu% | Au g/t |
|---|---|---|---|---|
| 26KVUG0949 | 507 | 70 | 1.18% | 0.24 |
| 26KVUG0950 | 376 | 13 | 0.92% | 0.06 |
| 26KVUG0948 | 589.8 | 7.2 | 1.12% | 0.09 |
| 26KVUG0947 | 530 | 7 | 1.74% | 0.02 |
| 25KVUG0632 | 237 | 8.44 | 0.83% | 0.95 |
All intercepts are downhole lengths and do not represent true width. Data sourced from Table 1, Appendix A of the ASX announcement dated 1 October 2026.
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Updated MRE on track for late October — what investors should watch
The upcoming resource update is shaping up as the most significant near-term event for Kantra shareholders. Underground diamond drilling completed to the end of August 2026 totals 38,535m, including 12,024m of Nugent drilling across both grade control and resource definition programmes.
The 2026 MRE update is expected to incorporate approximately 80,000m of drilling, inclusive of drilling completed during H2 2025, and is scheduled for release in late October 2026. Critically, results from holes 26KVUG0958 and 26KVUG0959 were received after the MRE cut-off date and have not been included in the 2026 MRE. That means the updated resource may not fully capture the current knowledge of the system at depth, suggesting additional upside remains outside the formal inventory.
Three things investors should monitor in the near term:
- The late October 2026 MRE update incorporating approximately 80,000m of drilling
- Follow-up drilling results targeting the possible second mineralised lens at approximately 640m RL
- Ongoing grade control results as stoping advances toward the Nugent lode
The combination of depth extensions below the existing resource, a potential additional mineralised lens, and two drill holes falling outside the MRE cut-off creates a clear near-term news flow. The resource update due in late October will be the market’s first formal view of how significantly the 2026 drilling programme has moved the needle on Nugent’s inventory.
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