Kincora Copper identifies high priority targets at Bronze Fox

By B.Khash-Erdene

In their update on recent operational and corporate activities report, Kincora Copper Limited said it identified a number of large scale, high priority copper porphyry targets advanced and refined following a recently completed induced polarization (IP) survey, covering 48.96 km2, and other field season activities at its flagship Bronze Fox license.

Commenting on the announcement, Sam Spring, president and CEO of Kincora, said, “Preliminary results of the recently completed IP (geophysical) program coupled with internal and independent interpretation of geology provides a number of exciting and high priority follow up targets, particularly nearer surface, which we expect warrant drilling. Further analysis and integration of various activities completed in the current and previous field seasons are ongoing but initial findings have confirmed Bronze Fox’s strategic location in a proven but underexplored productive porphyry copper belt and enhanced our understanding of its favourable regional setting, extensive copper-gold system(s), and advanced both nearer surface and potentially higher grade target areas. Construction of the Tsagaan Suvarga project, and associated infrastructure, continues within 40 km of Bronze Fox and initial production from Oyu Tolgoi, 140 km away along strike, is ramping up with discussions for financing of the underground development ongoing.

“The aim of our field season was to responsibly add value at the asset level while remaining comfortably funded into 2014 by both refining exploration data and specifying target generation of large scale, potentially world-class size, porphyry copper-gold targets. This has been accomplished as Kincora completed one of the most active copper exploration programmes in Mongolia during 2013, on one of the most advanced and prospective projects with the benefit of having one of the youngest exploration licenses. I would like to thank our employees and contractors for their recent hard work and look forward to providing a further update once final results are to hand.”

The recently completed IP program utilized the Search Exploration system with preliminary analysis both confirming previous, and generating new, large scale high priority copper porphyry targets on the company’s flagship Bronze Fox license. According to the company, the program not only penetrated to a greater target depth than previously experienced but also covered a number of untested areas. In total 35 blocks, 238 transmitting and 476 receiving line kilometers respectively were completed covering a 48.96 km2 area along the central prospects of the Bronze Fox license with no accidents or injuries.

The success of similar IP programs at Oyu Tolgoi and the technical successes experience by Kincora in late 2012 with drilling results at two undercover new targets (with no supporting existing geology) reconciling to the geophysics targets, adds significant substance to the IP analysis, said the company in an announcement. Bronze Fox continues to be one of the more advanced copper exploration projects in the highly prospective South Gobi region, offering large scale potential supported by known widespread lower grade copper mineralization, and localized higher grades, with one of the youngest aged exploration licenses. Previous geochemical, geological mapping and alteration studies coupled with ground magnetics, shallower IP programs and drilling results, including intersected mineralized copper porphyry and porphyry dykes, defined the scope of the recently completed programs.

Short URL: http://ubpost.mongolnews.mn/?p=6541

Posted by on Oct 29 2013. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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