Mongolian copper-gold
exploration and development
Vancouver, BC— November 21st, 2018
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to provide an update on field activities recently completed at various targets.
The SJ Geophysics Ltd. (“SJ”) geophysical survey’s at the Company’s 100% owned East Tsagaan Suvarga (“East TS”) and Bronze Fox projects were completed on time and under budget.
Results are promising, supporting multiple drill targets at Bronze Fox and East TS. In preparation for drilling at both projects over the winter, Kincora has completed a tender for the proposed drilling programs with a preferred drill contractor selected and favourable rates returned. Final modelling and interpretations are expected in the upcoming weeks, supporting the Company’s next Technical Committee workshop scheduled for the second week of December.
Kincora has strengthened and accelerated its project generation function, becoming the foremost international group pursuing further countercyclical expansion opportunities in Mongolia. In the last 12 months the team has reviewed over 300 projects, with 178 targets “ground-truthed” and better-rated opportunities undergoing more detailed assessment.
Peter Leaman, Senior Vice-President of Exploration, stated: “Since the first significant capital raising post the IBEX transaction and establishment of the new technical team, over the last 14 months Kincora has very cost effectively implemented our two pronged strategy. We have commenced the first modern systematic and district scale exploration across our wholly owned and dominant position in the world-class Southern Gobi copper belt, and become the foremost international group pursuing further countercyclical expansion opportunities in Mongolia focused on porphyry copper, gold and VMS targets. These disciplined and systematic approaches are proven to yield results.
Tendering for drilling contractors has been completed in preparation for drilling commencing, subject to board approvals, over the Mongolian winter at multiple targets at both Bronze Fox and East TS.
Significant progress has been made at Bronze Fox, including a new interpretation of the lithology and mineralized system, which coupled with new international geophysical surveys and the full 24,000 metres of drill core being relogged supports multiple high-grade targets for drilling. Bronze Fox is a large mineralized system and three of four holes drilled by Kincora into the monzodiorite section of the intrusive complex intersected over 1% copper and have only tested 260 metres of over a kilometre strike length.
Preliminary results of the SJ geophysical survey at East TS have provided significant encouragement, supporting our exploration approach and the concept of a series of Devonian porphyry intrusives at moderate depths in a proven brownfield environment.”
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Upcoming Events (all available at www.kincoracopper.com):
November 26th-29th: Chairman and CEO investor meetings in London
November 29th: Mongolian Mining Investor Roundtable - City of London
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About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia. For further information:
www.kincoracopper.com. |
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