Kincora commences IP survey at brownfield East Tsagaan Suvarga target
Vancouver, BC— September 4th, 2018
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) announces that SJ Geophysics Ltd. (“SJ”) has been mobilized to complete a DC resistivity and induced polarization (IP), and magnetotelluric (“MT”) geophysical survey at the Company’s 100% owned East Tsagaan Suvarga project (“East TS”), in the Southern Gobi, Mongolia.
The East TS project is within 12 kilometres of the Tsagaan Suvarga open pit, >US$1 billion development project, in a confirmed fertile brownfield environment. SJ is a Canadian specialist geophysical group and was selected following a detailed review with specifications of the survey benefiting from Phase 1 exploration results. The survey will support detailed 3D inversions and integration with existing ground magnetic, gravity and drilling data to advance and refine current conceptual targets, which if successful, is expected to support Phase 2 drilling this field season.
Exploration to date includes supportive magnetic, gravity and resistivity surveys with spatial correlation to Phase 1 drilling (including copper-molybdenum assay results and magnetic susceptibility readings) underpinning four large-scale conceptual intrusive bodies. These Tier 1 scale targets sit within the Devonian age intrusion and the right structural setting for a series of porphyry orebodies on the eastern margin of the Tsagaan Suvarga Intrusive Complex (“TSIC”).
On the western margin of the TSIC is Mongolyn Alt LLC’s (“MAK”) Serven Sukhait open pit development project, and associated southern exploration targets, where US$377 million of a US$1,089 million total capital cost has been incurred, supporting a project that is forecast to annually produce 316,000t of copper and 4,400t of molybdenum concentrate.
Peter Leaman, Senior Vice-President of Exploration, stated: “Kincora is following a proven systematic exploration approach at the prospective East TS project. The selection of SJ and design of the survey benefits from the significant experience the team has, including previous first hand experience at BHP when the last district scale exploration was undertaken in the region, and lessons learnt from the discovery and resource delineation phase at Oyu Tolgoi.
The SJ survey is anticipated to refine the current four large-scale targets, seeking to confirm coincident sulphide anomalies for Phase 2 drilling. A successful survey would support the conceptual target for East TS of a preserved series of mineralised intrusions. Such a setting is untested at the TSIC, with the Serven Sukhait pit exposed, similar to the open pit at Oyu Tolgoi where geophysics played a key role in the discovery of the high-grade undercover orebodies.”
Specialist consultant geophysicist, Barry de Wet commented: “Exploration activities have clearly defined four interpreted intrusive bodies. These support Tier 1 scale targets, underpinned by favourable geological and geophysical characteristics in the correct structural setting and in a known fertile porphyry system. The intrusive complex clearly extends to the East TS targets, with the targeted intrusions typical of the Servin Suhait open pit.
The series of targets at East TS are the first brownfield Devonian targets being advanced in the Southern Gobi belt since the Oyu Tolgoi mineralized trend over a decade ago, where a similar limited outcrop and systematic approach resulted in significant exploration success.”
Link to accompanying updated corporate presentation:
Discover Mongolia conference
Kincora is a proud sponsor and active participant of the 16th Discover Mongolia event this week in Ulaanbaatar, September 6th/7th, and is assisting facilitate an investor trip to Oyu Tolgoi and current Kincora activities in the belt. For further details on the conference please refer to:
Events section of the Kincora website:
“Investors' interest increased for "Discover Mongolia" summit”: Interview with Sam Spring:https://www.kincoracopper.com/
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Upcoming Events (all available at www.kincoracopper.com):
SEPTEMBER 6th-7th
OCTOBER 4th-5th
Source:Kincora Copper
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