Kincora Copper expects to have generated targets for potential drilling at its Bronze Fox project in Mongolia shortly. This work follows field season activities at the company's flagship project in the final quarter of 2013.
Work has confirmed possible porphyry mineralization at numerous prospects, which share the same ‘arc’ as Rio Tinto’s Oyu Tolgoi Copper-Gold Project 140km away along strike and a similar footprint to other large-scale deposits.
Kincora’s president and CEO Sam Spring says, “Recently received results from two independent consultants, one relating to IP (geophysical) and the other lithogeochemical and petrographic analysis, have been particularly promising and warrant a specific update ahead of our internal integration, interpretation and target identification which we expect to be completed shortly.”
In the December quarter, Kincora completed one of the most active copper exploration programs in Mongolia during 2013, on one of the most advanced and prospective projects with the benefit of having one of the youngest exploration licences.
“The recently completed field season activities have helped technically advance the Bronze Fox project, highlighting that most large scale IP targets remain untested, but importantly the 2013 program has assisted to explain previous results and lead to a reinterpretation of some target zones and existing geological and geophysical information.
“A number of analogies between the current stage of exploration and results at Bronze Fox and Oyu Tolgoi in 2000/01 pre the ‘discovery hole’ have emerged,” Sam Spring says.
Bronze Fox hosts an extremely large and strategically located mineralized footprint covering more than 40sqkm within a 223sqkm licence area. Analysis has confirmed a fertile arc for porphyry-style deposits with extensive lower grade copper-gold mineralization, with localized areas of higher grade, intersected in many drill holes over the last three years, and localized higher grade, across a 7km strike that remains open.
The project is only 250km from the Chinese border, along the Oyu Tolgoi mineralization structural corridor and about 40km from Tsagaan Suvarga (with potential cross cutting faulting). The immediate region is one of the most rapidly developing mining centres anywhere in the globe despite being one of the last underexplored frontiers and a productive copper porphyry belt.
Efforts to recover the company’s Golden Grouse licences, Tourmaline Hills and North Fox, following recent revocation by the Mongolian Government, as part of the revocation of a total of 106 licences across the country, have commenced.