Key Highlights

  • Kantra Copper reported underground diamond drilling results at Emily Star, including 11.45 metres at 1.74 per cent copper and 0.11 g/t gold from 285 metres in hole 26KVUG0945.
  • The company says mineralisation at Emily Star now extends to about 720 metres RL, roughly 200 metres below the 2024 mineral resource estimate.
  • An updated Mineral Resource and Ore Reserve statement is described as on schedule for October 2026; no new resource figures were given.

Kantra Copper Limited (ASX:KAN) reported on 23 October 2026 a series of copper-gold intersections from underground diamond drilling at its Emily Star deposit, part of the 100 per cent owned Kanmantoo mine about 55 kilometres south-east of Adelaide, alongside a deep intersection at the nearby Kavanagh deposit. The company says mineralisation at Emily Star now extends to about 720 metres RL, roughly 200 metres below the 2024 mineral resource estimate (MRE).

The announcement lists downhole intervals rather than true widths. In hole 26KVUG0945, 11.45 metres averaged 1.74 per cent copper and 0.11 grams per tonne gold from 285 metres. Hole 26KVUG0953 returned 8.0 metres at 1.33 per cent copper and 0.55 grams per tonne gold from 223 metres, and a further 5.0 metres at 3.07 per cent copper and 0.14 grams per tonne gold from 243 metres. Hole 26KVUG0952 returned 7.7 metres at 1.59 per cent copper from 312.3 metres.

Other results include 5.05 metres at 1.01 per cent copper in 26KVUG0943, 9.0 metres at 0.72 per cent copper in 26KVUG0936, 2 metres at 1.88 per cent copper and 0.36 grams per tonne gold from 492 metres in 26KVUG0946, and 1 metre at 2.9 per cent copper with 22.9 grams per tonne silver in 26KVUG0944. Intervals are amalgamated over a minimum of 2 metres above 0.4 per cent copper, with up to 3 metres of internal dilution, or a minimum of 0.8 metres above 0.8 per cent copper. No assays were cut.

Geology and depth

Kantra describes the mineralisation as epigenetic, structurally controlled veins and disseminations of chalcopyrite, pyrrhotite, pyrite and magnetite hosted in quartz-biotite-andalusite schist, dominantly striking 020 to 040 degrees and dipping about 75 degrees east. Bornite has been identified in isolated areas, often with narrow high-grade zones, and petrological work is planned. Holes were drilled from the Emily Star incline at dips of 21 to 57 degrees, with maximum depths from 360 to 520 metres. The company says mineralised structures have been identified to about 840 metres RL.

At Kavanagh, wedge hole KTDD248_W6 intersected 4 metres at 0.51 per cent copper and 0.14 grams per tonne gold from 831 metres, and 1 metre at 0.83 per cent copper from 852 metres. Kantra says this is the deepest intersection into Kavanagh, about 50 metres below the previous wedge, and shows the full Kavanagh alteration with a coincident zone of low-grade copper.

Resource status

The 2024 Emily Star MRE was unchanged during 2025. The 2026 update includes assays received by 3 August, so holes 26KVUG0942 and 26KVUG0945 arrived after the cut-off and are excluded. The company says the updated Mineral Resource and Ore Reserve statement remains on schedule for October 2026. The announcement gives no new tonnage, grade or contained metal figures. Kantra Copper (ASX:KAN) has completed 44,473 metres of underground diamond drilling in 2026 to the end of September.

Development

Underground development advanced 194 metres in the incline and stockpile area to the end of September, and the stockpile is designed as a future drill platform to test Emily Star at depth. The surface portal, intended as the primary access to Emily Star, has an established box cut, installed ground support and early development blasting under way. Chief executive Bob Fulker said the results increase the company's confidence in Emily Star as a growth opportunity, and described resource growth as a priority.

Next steps

Kantra plans to incorporate the 2026 drilling in the updated MRE and Ore Reserve statement, continue Emily Star drilling, complete petrological analysis of the bornite and refine the Kavanagh geometry with further drilling. The statement is described as expected later in October. The announcement contains an inconsistency, citing the 2024 MRE as a 90 per cent increase in one footnote and a 96 per cent increase in the Competent Person's Statement.