Thursday, 9 August 2012

Kincora Copper intersects gold at Bronze Fox

Kincora Copper (CVE:KCC) disclosed partial assay results from the West Kasulu zone at Bronze Fox as well as Tourmaline Hills in southwest Mongolia.

The Bronze Fox project is located on the copper-gold belt in southeast Mongolia that also hosts the world-class Oyu Tolgoi deposit.

Partial drill core from hole BF62 hit an 180 metre interval with continuous copper mineralization, the company said.

Average copper grade is 0.5% copper and 0.1 gram per tonne (g/t) gold with associated molybdenum mineralization up to 0.33%.

This includes 0.82% copper, 0.14 g/t gold and 0.04% molybdenum across 37 metres, as mineralization begins from surface and remains open at depth.

Kincora said core cutting and sampling is on-going with the hole continuing below 1,000 metres.

The Vancouver-based development-stage resource company said results confirm potential for a deep high grade porphyry copper deposit.

Additional drilling will test the extent of the mineralization and will track the halo east and west which runs for two kilometres, it added.

“These exciting results confirm that higher grade zones exist within this exceptionally large system,” chief executive John Rickus said in a statement.

“For the remainder of the year our team will continue to explore a number of high priority targets to establish the extent of the copper and gold mineralisation on the Bronze Fox properties.”

Meanwhile, partial assays have been returned for Tourmaline Hills, one of the licenses acquired from Forbes and Manhattan through an exchange of shares in April 2012.

Hole F61 intersected just one metre of 2.74 g/t gold between 39 to 40 metres and 5 metres averaging 2.65g/t gold between 60 to 65 metres. This includes 3.45 g/t to 4.70 g/t gold across three metres.

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