- Phase 1 drilling has started at the East Tsagaan Suvarga
("East TS") target for approximately 2,870 metres and 12
holes;
- East TS is a 'brownfield' open pit target, 13km from
the existing Serven Sukhait open pit at the privately owned
Tsagaan Suvarga project;
- Drilling will test a confirmed Devonian intrusive
system for porphyry mineralization comparable to the
development projects in the belt, Tsagaan Suvarga ("TS") and Oyu
Tolgoi ("OT").
VANCOUVER, Aug. 31, 2017 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV:KCC) is pleased to announce drilling is
underway at its wholly owned East TS copper porphyry target in the
Southern Gobi, Mongolia. The
maiden reverse circulation and diamond drill program at the East TS
target is comprised of approximately 2,870 metres to less than 265
metres depth for approximately 12 holes. It is proposed that during
a second phase Kincora will undertake infill geophysics and a
follow on 5000 metre drill program.
Sam Spring, President & CEO,
commented: "It is pleasing to be drilling at the East TS target
within a week of final approvals for our $4.52 million equity offering. Kincora has
commenced the first Tier 1 drilling program in recent years
and the first modern district scale reconnaissance exploration
program in what is a world-class but underexplored porphyry
belt.
In the upcoming months we will undertake drilling at two
targets, initially at East TS, and then Bayan Tal. These first phase programs will
provide improved geological knowledge, with funds in place for
follow up geophysics and second phase drilling for a total of
approximately 16,000 metres.
Our exploration programs will utilise number of advancements
in global exploration techniques since the last the last wave of
exploration in this belt by the likes of Ivanhoe, the BHP JV and
IBEX, and will test our conceptual models of the first new Devonian
porphyry systems in the Southern Gobi belt since Oyu
Tolgoi, the latter being the largest expansion project globally in
the industry".
East Tsagaan Suvarga target
East TS sits within the interpreted eastern margin in the
Tsagaan Suvarga Intrusive Complex ("TSIC") which hosts the Severn
Sukhait open pit, various oxide resources and exploration targets
on northern structural corridor within western margin of the
intrusive at the privately owned Tsagaan Suvarga project. The Seven
Sukhait sulphide open pit has a 307Mt
@ 0.54% Cu resource and is a billion dollar plus development
project with the orebody pre-stripped and existing associated
regional infrastructure, including grid power and neighbouring
saline water aquifers.
Surface geology at East TS provides an analogue to the Serven
Sukhait open pit alteration and associated higher-grade copper
mineralization. Analysis of age dating, whole rock geochemistry and
magma fertility highlights a common suite between quartz
monzodiorite within the Serven Sukhait open pit, the high-grade
underground deposits at OT and East TS. Interpreted geophysics
supports a potential similar northern structural corridor on the
eastern margin under shallow younger cover to that outcropping on
the western margin. Field season activities in 2016 and
earlier in 2017 have included ground magnetics, detailed mapping,
petrography, whole rock geochemistry with fertility analysis, and
age dating to complement historic Induced Polarization ("IP")
geophysics and soil geochemistry. The objective of ongoing
field activities at East TS is to confirm the open pit and
exploration analogue to Tsagaan Suvarga.
The TSIC is situated within the second large-scale and Devonian
age porphyry system in the Southern Gobi belt to date with an
economic discovery. The East TS target is situated within
13km of the Severn Sukhait open pit and until last years'
exploration efforts had previously unidentified outcrop, providing
an excellent example of the highly mineralized but vastly
underexplored potential of the Southern Gobi Devonian copper belt
for further Tier 1 porphyry discoveries. Kincora holds the dominant
land position in the region with a portfolio across
1437km2.
Updated Corporate Presentation
An updated presentation with further details on the East TS and
Bayan Tal targets, including drill
program objectives, is available on our website:
http://kincoracopper.com/investors/corporate-presentation
About Kincora
Kincora is a junior resource company engaged in
the acquisition, exploration and development of mineral properties,
with a focus on Tier 1 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