- Phase 1 drilling at East Tsagaan Suvarga ("East TS")
completed for 3145 metres and 13 holes, with soil sampling analysis
and initial follow up geophysics ongoing;
- Drilling has been successful intersecting the Tsagaan
Suvarga Intrusive Complex ("TSIC") at potential open cut depths and
supporting a preserved down fault block(s);
- Phase 1 drilling has started at the Bayan Tal target for
approx. 2850 metres and 6 holes, with historic drilling on the
margin returning 18 metres @ 0.66% Cu Eq
VANCOUVER, Oct. 12, 2017 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV:KCC) is pleased to announce first phase
drilling of porphyry copper targets has recently been
completed at our East TS target and has now commenced at our Bayan
Tal target in the Southern Gobi, Mongolia.
The maiden drill program at the East TS target comprised 3145
metres for 13 holes, with 6 holes intersecting the interpreted
Devonian quartz monzodiorite of the TSIC, refer Exhibit 4.
Visual interpretation has deemed the drilling program at East TS a
"technical success" having intersected a felsic intrusive at or
around target depth and providing geological information to design
the next stage geophysical programs and interpretation.
Having been at site overseeing activities at the East Tsagaan
Suvarga target, Peter Leaman, Senior
Vice-President of Exploration, commented:
"The first phase drilling program consisting of reverse
circulation and percussion pre-collars with diamond tails totaling
3145 meters has been completed at the East TS target and been
successful, inline with our expectations for the program.
Phase one was designed to primarily test various ground
magnetic targets and provide an improved geological knowledge of
our interpretations of the region. The program successfully
intersected interpreted Devonian age
monzodiorite in 6 drill holes with further
understanding of the outcrop in the general target zone refined. A
broad area of monzodiorite and various structural
corridors has been outlined over which ground infill
magnetic and gravity surveys have commenced in order to refine
zones for more detailed induced polarization surveys and specific
target testing of mineralization in a fully funded second phase
drilling program.
The monzodiorite is the dominant intrusive rock
type hosting Tsagaan Suvarga porphyry copper mineralization, and
potential is also emerging to host to a large tonnage and higher
grade Hugo Dummett or Heruga
equivalent system within the TSIC which may have been preserved
with materially better grades than the Serven Sukhait
open pit on the western margin of the Complex. We are looking to
advance this latter new concept as well as the potential for the
original analogue for another Serven Sukhait open pit
deposit on the eastern margin of the TSIC.
The successful exploration efforts at East TS provide a
template for which we are looking to systematically replicate
across the rest of our commanding portfolio in the world-class Oyu
Tolgoi-Tsagaan Suvarga Devonian copper belt".
A 100 x 100 metre soil sampling across select areas has been
completed with infill mapping of outcrop. Infill ground magnetic
and maiden gravity surveys are nearing completion and will assist
in refining our interpretations with constraints provided from
better knowledge of surface and down-hole geology from exploration
efforts over the last couple of months. The recently commenced
geophysical programs and more detailed Induced Polarization ("IP")
surveys layered with the first phase drilling results are expected
to provide vectors to support testing multiple specific targets in
the fully funded 5000m second phase drill program.
The visual inspection of core, XRF samples of soil samples, and
stratigraphy inferred by fossils supports the East TS target being
analogous to the Devonian age Serven Sukhait open pit (307Mt @ 0.54% Cu resource). Further encouragement
is provided from both surface mapping and drilling that has
intersected interpreted lower Carboniferous cover above the
Devonian TSIC, which coupled with improved interpretations of key
structural and fault features supports the concept of a potentially
preserved Devonian complex. The latter would be an analogue for
East TS and potentially hosting a preserved high grade Hugo or
Heruga orebody as at Oyu Tolgoi, a materially larger scale
exploration prize.
Interpreted results for the first phase drilling program
(including traditional assay results, age dating, fertility and
green rock analysis), ongoing and proposed geophysical programs,
and their integrated interpretations and follow up programs for the
next stage of systematic target testing will be provided following
Kincora's next Technical Workshop.
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 oblique structures.
Such a structural setting is common for most large-scale porphyry
deposits globally.
Age dating of a conglomerate in the BTIC has confirmed a
Devonian age, supporting the potential for "Oyu Tolgoi type"
concealed mineralization. The conglomerate is a key indicative
marker at OT and is stratigraphically located above the high-grade
mineralisation. The BTIC is the only other confirmed significantly
untested complex of Devonian age and similar stratigraphy to OT
known to date in the Southern Mongolia Arc.
Limited exploration to date including drilling has returned
copper-gold mineralization (up to 18m @ 0.66% Cu Eq and 18m @ 0.75%
Cu Eq) on the margin of a large target under shallow to moderate
cover.
A two-drill rig program has recently commenced at our wholly
owned Bayan Tal license. Outcropping mineralization and systematic
exploration integrating geology and geophysics has refined multiple
potential drill targets that are the focus of the ongoing first
phase 2850 metre, hole 6 drill program.
The Devonian age, gold rich Oyu Tolgoi copper porphyry system in
the southeast of the Southern Mongolian Arc 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.
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