- Copper-gold porphyry mineralization at Bayan Tal is
confirmed within a large scale Devonian "Oyu Tolgoi style" complex
supporting priority drilling
- Geological and geophysical activities ongoing to progress
other large scale, shallow to moderate depth targets and advance a
unique portfolio along the value curve
- Exploration strategy refined to replicate the systematic
approach successfully applied in discovering similar profile Tier 1
gold rich copper porphyry discoveries
- Updated corporate presentation highlights Kincora's industry
leading proposition of "Location, Team, and Targets"
VANCOUVER, Nov. 17, 2016 /CNW/ - Kincora Copper Limited (the
"Company", "Kincora") (TSXV:KCC), following the recent closing of
the IBEX transaction and announcement of Kincora's newly
formed Technical Committee (refer to our respective November 7th and 14th press
releases), the Company is pleased to provide an update on ongoing
activities and its exploration strategy going forward.
A comprehensive workshop and field visit was concluded in
September, including the Technical Committee, industry leading
specialists and geologists with extensive recent experience in the
gold rich Southern Mongolian copper belt. The workshop identified
priority targets and built out a pipeline of regional prospects
focused on the following key attributes:
1.
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Scale:
Kincora's portfolio supports the advancement of potential Oyu
Tolgoi and Tsagaan Suvarga (Devonian) analogues, and/or traditional
gold rich finger type porphyries. Exploration activities currently
are focused on replicating systematic and proven techniques that
have been successful at other similar profile targets, including
the Tier 1 copper-gold discoveries that the Technical Team has
prior experience with.
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2.
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Shallow
targets: The focus is targets on the margins of half grabens
and/or uplifted fault blocks where outcrop or subcrop provides a
geological window to support integration of geophysical datasets to
de-risk exploration.
|
3.
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Multi-target,
multi-stage pipeline with exploration ongoing:
|
|
- Priority #1 target: Confirmed Devonian ("Oyu Tolgoi
style") stratigraphy at the Bayan Tal Igneous Complex ("BTIC"),
including 18m @ 0.66% CuEq down hole on the margin of the
interpreted system. This is one of the most significant untested
Complexes in the Southern Mongolian belt with multiple drill ready
targets supporting a candidate for a new Tier 1 porphyry
discovery.
|
|
- Priority #2 target: "Brownfield" exploration
along strike to the Tsagaan Suvarga ("TS style") open pit
development project within the TS Massif porphyry system. Field
work is refining near surface drill targets.
|
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- 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 spring and summer
of 2017.
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Sam Spring, President & CEO,
commented: "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.
We are excited by the targets identified at Bayan Tal, which
is an extensively mineralized system, with distal
copper-gold porphyry returned along its southern margin. Recent
activities have confirmed similar Devonian stratigraphy
to Oyu Tolgoi, the first target since with such attributes that we
are aware of. Advancements in geology and geophysics support
multiple drill ready targets at Bayan Tal, which is one of the best
candidates for a new Tier 1 porphyry discovery in the Southern
Gobi.
Considerable exploration efforts have been ongoing since the
IBEX deal was first announced and conclusion of multiple ongoing
activities are expected to support a unique pipeline of other
targets across the dominant landholding between and on strike from
the two mines in the belt. We look forward to providing these
results, outlining refined drill targets and areas for systematic
exploration for the 2017 field season".
Details on the priority exploration targets and pipeline of
prospects are provided in an updated corporate presentation:
http://kincoracopper.com/investors/corporate-presentation
Background on the Bayan Tal Igneous Complex
("BTIC")
The BTIC sits almost half way between the Oyu
Tolgoi and Tsagaan Suvarga Devonian porphyry systems in a similarly
interpreted favourable intersection of arc parallel and transverse
structures. Such a structural setting is common for most
large-scale porphyry deposits globally, also noting periodicity to
the location of most deposits in the more mature porphyry
belts.
Outcropping mineralization and systematic exploration has
refined multiple potential drill targets. Integration of existing
Induced Polarization ("IP"), magnetics and geology supports the
correct composition and zonation pattern for porphyry formation.
BTIC is a known copper-gold or gold-copper mineralized
Carboniferous system from prior trenching and drill testing of IP
targets respectively returning to up 18m @ 0.66% Cu Eq and 18m @
0.75% Cu Eq. Subsequent ground magnetics indicates no coincident
anomaly or source at these tested targets areas, which sit on the
southern margin of the interpreted system.
More recent age dating of the conglomerate has confirmed
Devonian stratigraphy, supporting the potential for "Oyu Tolgoi
style" concealed targets. The conglomerate is a key indicative
marker used in exploration efforts at Oyu Tolgoi, stratigraphically
located above the mineralised quartz monzodiorite orebodies and its
Devonian age at BTIC is the only other confirmed similar
stratigraphy to OT in the belt (publically known to date). Ground
magnetics completed in 2015 has advanced new drill ready targets
with depth to basement analysis illustrating only shallow to
moderate target depths and supporting the potential for a large
scale porphyry copper target.
The Devonian age, gold rich Oyu Tolgoi copper porphyry system is
a Tier 1 asset, being the largest high-grade group of Paleozoic
porphyry deposits known in the world, which coupled with the
underexplored Tsagaan Suvarga Devonian porphyry system encourages
exploration in this underexplored district. Kincora holds the
dominant landholding between and along strike from these two large
scale copper systems.
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.
Qualified Person
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