- Preparing to drill two targets with geological models analogous to nearby large scale copper mines, Oyu Tolgoi and Tsagaan Suvarga
- Field activities resumed focused on expanding the near surface target area at East Tsagaan Suvarga and advancing our further expansion strategy
VANCOUVER, Feb. 15, 2017 /CNW/ - Kincora Copper Limited (the "Company", "Kincora") (TSXV:KCC) is pleased to provide details on its exploration strategy following further analysis of two priority drill targets and earlier stage district scale pipeline. The drill targets are Devonian age and analogous to the two development projects in the belt. Bayan Tal being an "Oyu Tolgoi" ("OT") style target and East Tsagaan Suvarga is a 'brownfield' "Tsagaan Suvarga" ("TS") style target. Kincora holds the dominant portfolio in the emerging gold rich world-class porphyry copper belt.
Previously unidentified outcrop was mapped in our area of interest at the East Tsagaan Suvarga ("East TS") target, with fertility analysis, age dating and ground magnetics supporting our geological model of an open pit target being within, or on the eastern margin of the TS Intrusive Complex, 13km away from the existing Serven Sukhait open pit development project. Following a review of copper soil anomalies, 2016 ground magnetics and satellite images, Kincora has commenced field activities looking to expand the near surface target area at East TS.
Bayan Tal is a large scale target with confirmed Oyu Tolgoi style stratigraphy, the first target in the belt since OT with such attributes, and known mineralization on the margin of the interpreted system, including 18 metres @ 0.66% CuEq (hole 6) and 0.75% CuEq (trench).
A better understanding of surface geology at East TS and further modelling of ground magnetics at Bayan Tal is expected to refine a drilling programs under shallow and shallow to moderate cover at the respective projects.
Sam Spring, President and CEO commented, "Kincora's exploration strategy is to advance the portfolio along the development curve. In the next 6 months this is expected to include drilling two targets that provide analogies to the existing two large-scale copper mines in belt with encouragement of our geological models likely being a major value add milestone.
The team is continuously looking to improve the quality of our landholding through the addition of new strategically important licenses and ground that does not fit our target exploration profile will be relinquished. We are in the favorable position of currently exploring to confirm additional scale potential at our East TS target, after which we will provide further details on our plans for the 2017 field season."
Illustrations of the geological models for the Bayan Tal Igneous Complex ("OT Devonian style target") and 'Brownfield' East Tsagaan Suvarga Massif ("TS style target"), and pipeline activities for the district scale license portfolio, are provided in the updated presentation available at Kincora's website: http://kincoracopper.com/investors/corporate-presentation
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on potential Tier 1 copper-gold projects in Mongolia.
The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of Peter Leaman, Senior Vice-President of Exploration of Kincora Copper, who is the Qualified Person for the purpose of NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kincora Copper Limited
For further information: Sam Spring, President and Chief Executive Officer, [email protected] or +61431 329 345