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Kincora announces gold-base metals target in Mongolia www.kincoracopper.com
Vancouver, BC - December 30th, 2020 - Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to provide an update following field season activities in Mongolia post the issuance of a mining license for the eastern portion of the Bronze Fox Intrusive Complex (“BFIC”). The primary focus of exploration was on the margin of an adjacent second large porphyry system, the Tourmaline Hills Intrusive Complex (“THIC”), at a newly identified gold-base metals target within the West Fox prospect.
Field activities have identified three new target zones and returned generally higher-grade gold and copper assay results than previous Ivanhoe Mining (“IMMI”) activities – refer to Figure 2. Other underexplored regions prospective for intermediate sulfidation epithermal targets on the margin of the THIC and BFIC have been identified for field reconnaissance.
Sam Spring, President & CEO, commented, “The previous focus of limited drilling, geophysics and surface reconnaissance by Kincora within and around the margins of the Tourmaline Hills Intrusive Complex was testing the potential for large concealed porphyry targets.
This year’s field activities at Tourmaline Hills benefitted from Kincora’s activities in the Macquarie Arc, Australia. We applied a new conceptual target model similar to the Cowal gold-base metal project (flagship project of Evolution Mining, with a 9Moz gold resource inventory) and the target of the Company’s neighbouring Fairholme project, which we are planning on drilling in 2021, located less than 15km from Cowal.
We are encouraged by the results and new targets at West Fox, and scope for further similar targets on the margins of the two large intrusions at the Bronze Fox project. We feel these results also highlight the larger picture upside to Kincora from the recently announced agreement with Resilience Mining to realise the inherent value of our Mongolian portfolio and their complementary Mongolia strategy, as we focus on our core Australian operations.”
Published Date:2020-12-30
