Kincora Copper has appointed Mining Associates to undertake a review of its Bronze Fox Copper-Gold Porphyry Project in the Southern Gobi region of Mongolia. The review will provide an independent resource model and assist in future exploration.
The 3D block model is expected to support tonnage and grade estimates, and provide parameters for future exploration and a potential NI 43-101 compliant resource.
Bronze Fox has an extensive mineralised footprint covering more than 40sqkm at the Bronze Fox Intrusive Complex (BFIC) and 15sqkm at the neighbouring Tourmaline Hills Intrusive Complex (THIC).
Two active and unencumbered drilling exploration field seasons have been carried out across the adjacent two licence portfolio that hosts the full BFIC. Total drilling by Kincora and others covers 169 holes for 55,908 metres across the portfolio.
Efforts to date have focused on the western central portion of the BFIC where 75 holes for 23,130 metres has been drilled across a 1.4km by 2.4km zone, with mineralisation encountered often from surface to a maximum vertical depth of over 1km. Best results were 391 metres @ 0.50% copper equivalent, including 37 metres @ 0.83% copper for 1.01% copper equivalent; and 112 metres @ 0.50% copper equivalent, including 32 metres @ 0.37% copper for 0.91% copper equivalent.
Kincora’s president and CEO Sam Spring said, “There is a substantial copper-gold system at the western central portion of the BFIC, within the larger two mineralised intrusions at Bronze Fox.
“With unencumbered access to both licences and an improved copper price, the Mining Associates review is expected to independently quantify the previous discovery, which will assist valuations to peers, define areas of potential higher grade and adjacent exploration targets that may justify further drilling to expand the mineralised system and define a maiden NI 43-101 compliant resource.
“Relative to the other copper-gold projects in the wider belt that have existing resources Bronze Fox has had modest previous drilling. For the one field season, in 2012, when Kincora was unimpeded with its exploration efforts at the Bronze Fox project, the company returned one of the most favourable exploration results in the region at the West Kasulu prospect.
“In the two years of relatively early stage exploration by Ivanhoe, only one with drilling activities, Bronze Fox was a priority exploration target, excluded from the BHP regional joint venture.
“Current field season activities continue to focus on the Devonian age targets south of Bronze Fox. First phase drilling was recently completed at Bayan Tal and two rigs are completing a four-hole program on the western margins of the Ulgii Khud massif.
“Interpretation of new surface geology, drilling and geophysics is ongoing, including both the East Tsagaan Suvarga and Red Well targets.”