Kincora Copper Limited (TSXV & ASX:KCC) has revealed a maiden Inferred Mineral Resource Estimate (Resource, MRE) and updated Exploration Target for the West Kasulu prospect at the Bronze Fox project, commissioned by Resilience Mining Mongolia Limited.
The majority of the MRE and Exploration Target are situated within the existing Bronze Fox mining license with the balance being on the adjoining Tourmaline Hills exploration licence (collectively the Bronze Fox project).
Highlights:
- Maiden Mineral Resource and updated Exploration Target announced for the West Kasulu prospect, within the Bronze Fox porphyry project, located in the Southern Gobi, Mongolia:
- Inferred Mineral Resource Estimate contains 426Kt copper and 437Koz gold to a depth of 325 metres below surface, including an oxidised copper component
- Updated Exploration Target estimated below the Mineral Resource Estimate
- West Kasulu prospect is open on strike and at depth, hosted within a small portion of the much larger mineralised Bronze Fox Intrusive Complex, which is one of three so far identified near surface and under explored intrusive complexes at the wider Bronze Fox project
The Bronze Fox project consists of one of the largest copper-gold systems in Mongolia with only modest drilling having been completed,” Sam Spring, President and CEO, said.
“The consolidated West Kasulu prospect has only had three years of unimpeded prior drilling activity, and is located on the margin of and is a small portion of one of three large and underexplored intrusive complexes identified to date at the Bronze Fox project.
“The MRE, for the at and near surface portions of West Kasulu, and an Exploration Target, for the deeper part of the system, have been commissioned and paid for by Resilience and reflect the proposed strategy to focus on, and derive value from, the potential for early development of the near surface oxide resource and shallow porphyry expansion potential, while seeking partners to fund deeper drilling.
“It is pleasing to see the scale of previous exploration efforts at West Kasulu further quantified, with the system remaining open along strike and at depth. As noted in our July 8th press release, Kincora remains committed to extracting appropriate value from our wholly owned Mongolian assets for the benefit of our shareholders and seeing the projects move forward.
“We have worked with Resilience for a significant period of time, the door is still open to them, as our strategy remains focused towards active and systematic exploration activities in Australia.”
