KINCORA Copper has outlined a multi-target, multi-stage strategy for tier one porphyry copper-gold exploration in southern Mongolia. Early priorities will be Bayan Tal and East Tsagaan Suvarga (TS) where Oyu Tolgoi-style stratigraphy has been confirmed.
|Examining an outcrop on one of Kincora Copper’s prospects in southern Mongolia.|
Recent Bayan Tal work returned an intersection of 18 metres @ 0.66% copper equivalent down hole on the margin of the interpreted system while analysis has also identified the East TS target.
Kincora’s president and CEO Sam Spring said: “We are excited by the targets identified at Bayan Tal, which is an extensively mineralised system with distal copper-gold porphyry returned along its southern margin.
“Recent activities have confirmed similar Devonian stratigraphy to Oyu Tolgoi, the first targets since with such attributes that we are aware of. Advancements in geology and geophysics support multiple drill ready targets at Bayan Tal and East TS, which are the best early candidates for a new tier 1 porphyry discovery in the South Gobi.
“New analysis has shown Tsagaan Suvarga can be classified as a Devonian quartz monzodiorite system, essentially identical to the high-grade ore bodies at Oyu Tolgoi, and East TS is part of this suite.”
Regarding the pipeline, extensive ground magnetics, detailed mapping, regional and local geochemistry, petrography, whole rock geochemistry with fertility analysis, and age dating are ongoing to advance a portfolio of high quality, ranked exploration targets across the district level portfolio developing additional drill targets and areas for systematic exploration in the 2017 spring and summer.
Kincora’s portfolio supports the advancement of potential Oyu Tolgoi and TS analogues, and/or traditional gold-rich finger-type porphyries. Exploration activities are focused on replicating systematic and proven techniques that have been successful at other similar profile targets.
“Location, team and targets are the key ingredients for a successful exploration play. Since closing the IBEX transaction we have started outlining key positive developments on these fronts that differentiate and positions Kincora well moving forward, with systematic exploration advancing our targets up the value curve,” Sam Spring said.
Meantime, Kincora has raised more than C$532,000 in a non-brokered private placement with the funds to advance the Mongolian exploration portfolio. Concurrently Kincora has agreed to settle debt of US$48,576 owing to HPX Techco Inc, an affiliate of High Power Ventures, on account of loans made in the course of the IBEX Transaction, by issuing 186,831 shares.