It had announced positive results from an induced polarisation (IP) survey that confirmed previous, and generated new, large-scale high priority copper porphyry targets at Bronze Fox. A review from an independent consultant also showed that the deposit’s geochemical footprint matched other major porphyry deposits, indicating a similar mineralization potential.
The wholly-owned deposit is within the same tectonic and intra-oceanic arc as the Oyu Tolgoi and Tsagaan Suvarga copper deposits.
Bronze Fox is situated approximately 250 kilometres (km) from the Chinese border and about 140km northeast of Rio Tinto’s Oyu Tolgoi, one of the world”s largest copper-gold deposits. Oyu Tolgoi is expected to produce an average of 430,000 tonnes of copper, 425,000 ounces of gold annually, plus by-product silver and molybdenum, over the mine’s life.
Multiple large-scale copper porphyry targets with favourable geology and geophysics have supported the possibility of bulk tonnage ore mineralization in “finger type” porphyries similar to Oyu Tolgoi or Northparkes, where Rio Tinto has an 80% interest, in New South Wales, Australia. Exploration work has also highlighted Happy Geo as an attractive, earlier stage, prospect. It is a near surface follow up exploration target and has the potential for porphyry targets at depth.
“Our 2013 field season deployed some of the same wide ranging and detailed exploration techniques used at Oyu Tolgoi to significantly increase the confidence in high priority, and large scale targets that demonstrated exceptional corresponding prospectivity,” said Kincora’s president and chief executive Sam Spring.
Nine drilling target zones have been identified at Bronze Fox following the latest IP survey results.
“Kincora is persisting with additional measures to add shareholder value and is encouraged by initial, and further proposed, reform to the Mongolian mineral sectors legislative environment, amongst other efforts to provide additional advantages to the private sector,” said Spring.
