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Kincora Announces Agreement for New Priority Drilling Porphyry Project

Mining News - Published on Wed, 13 Nov 2019

Image Source: proactiveinvestors
Kincora Copper Ltd has entered a agreement with Temuulen Orshih LLC, which owns 100% of the Badrakh copper-gold porphyry project. Field geological mapping, soil and rock chip sampling, ground magnetics and induced polarization has been undertaken, which underpinned a maiden shallow two hole drilling program this field season by the Vendor. This drilling intercepted a leached supergene cap hosted within an intrusion that displays phyllic and propylitic alteration, with chalcocite and chalcopyrite mineralisation. Subject to final due diligence and permitting, and post reinterpretation of previous exploration results, further mapping and geophysical interpretation, Kincora proposes to complete two deeper holes this field season that will for the first time test the potential for a preserved and large scale copper-gold porphyry system, as well as for a nearer surface supergene cap.

Mr Sam Spring, President and CEO, said “The agreement for Badrakh provides a path to control alongside a well credentialed vendor and partner, for a priority drill ready project underpinned by large scale porphyry targets which are favourably located to existing infrastructure and on the doorstep to China. Funds from Kincora's project generation budget support drilling expected to shortly commence at Badrakh, following first phase activities concluding at our East Tsagaan Suvarga project. The agreement is inline with the Company's project generation strategy, leveraging our strong technical teams experience, systematic exploration approach and being the foremost listed group pursuing further counter-cyclical expansion opportunities in Mongolia. An update for exploration activities at the Company's existing Bronze Fox and East Tsagaan Suvarga projects is expected shortly."

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Posted By : Arun Huidrom on Wed, 13 Nov 2019
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