IP Inca Pacific Resources

Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) is pleased
to announce drilling activities have commenced at high priority copper porphyry
targets, following initial exploration activities having already resumed at
Bronze Fox. 


The 2014 field season programme has been designed, and is funded, to primarily
advance and test a number of large scale copper porphyry targets focused at the
West Kasulu, Sophie North and Leca Pass prospects situated around the Bronze Fox
Intrusive Complex ("BFIC"). The BFIC is located on our wholly owned 15000X
exploration license and does not cross into any neighboring licenses. A detailed
exploration review, including initial designed drill holes, has taken place by
senior executive management during recent weeks in Ulaanbaatar following various
ground truthing site visits and integration of known geology and geophysics. 


Drilling activities will focus on areas of known mineralization that remain
largely untested with subsequent Induced Polarization ("IP"), alternation and/or
fertility analysis assisting vector to areas of potential high grade
mineralization. Such targets include the last hole drilled in December 2012,
F72, which returned localized copper of +4% on the periphery of a then untested
IP chargeability high and in the western region, approximately 1km along strike,
of previous drilling at the West Kasulu prospect.


Kincora is pleased to also announce the appointment of Henry Tebar as Principal
Geologist as well as the addition of a number of high quality local geologists
to our existing team. Henry has extensive copper and base metals exploration
experience in various emerging and frontier countries, with proven porphyry
orebody discovery experience. Henry is familiar with Bronze Fox via his previous
role as President and Chief Geologist of the Trafigura Origo Joint Venture in
Mongolia, has extensive knowledge of various regional opportunities and has an
existing working relationship with Kincora's Director of Exploration, Yawen Cao.



Following a detailed tendering process, Kincora has signed Major Drilling LLC as
its drilling contractor. Major Drilling is widely regarded as the leading
drilling contractor in Mongolia in terms of experience, team and safety with
current excess capacity in-country. Two UDR1500 Multi-Purpose and one 685
Schramm Reverse Circulation (RC) rigs have been mobilized with the team from Oyu
Tolgoi, to Bronze Fox, with RC pre-collars planned before diamond drilling at
most copper porphyry targets. 


Trenching activities have also commenced at the Happy Geo prospect following
promising recent surface sample results and corresponding integrated geophysical
analysis. Further details on the Happy Geo prospect are provided on the
following page. 


Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said: 

"The last quarter has been a busy period for the Company setting the foundation
for an exciting stage with exploration and drilling activities recently
commencing. Kincora has a unique mix of experienced geologists, drillers, senior
management and is exploring one of the most advanced and prospective copper
projects in Mongolia, as we look to replicated a similar programme to that
successfully executed in 2001 by the then Ivanhoe Mines (now Turquoise Hill
Resources) which led to the "discovery hole" at Oyu Tolgoi. 


The primary focus remains large-scale copper porphyry targets that have been
actively advanced in the last 18 months since we last drilled at Bronze Fox,
where we previously returned very promising results. Furthermore, the gold
potential across the project is being pursued, noting that approximately a third
of all holes previously drilled at Bronze Fox have returned intervals of at
least 1g/t gold, with activities focused on the Happy Geo prospect where no
previous drilling has taken place, consistent high grade surfaces have been
returned with favourable corresponding geophysics. Other corporate initiatives
to add shareholder value are being advanced following the private placement."


The Company will continue to inform the market of its exploration progress.

Happy Geo

The Happy Geo prospect is a 2x7 km structurally controlled east-west corridor in
the southern half of Bronze Fox. Previous exploration work has identified
outcropping gold veins (from rock chip grab and soil grid sampling), cutting a
folded and faulted Upper Carboniferous clastic sequence and this region is to
the south of a large fault which separates the more advanced copper porphyry
targets to the north. Two zones of sub-outcrop, both with at least a 1-1.5km
strike, have been identified at Happy Geo with favorable rock chip samples. The
prospect registers both high chargeability and low resistivity signatures at
relatively shallow depths. In particular, the area (1km2) to the northeast
corner of Happy Geo called Altan Undes (or Golden Root) has consistently
returned highly anomalous gold values (from 0.3 up to 91.6g/t Au, averaging
8.6-20.2g/t Au) from grab samples, including coincident Au and As soil
anomalies.


Following the very high and large chargeability anomalies identified by the
Search 3D IP survey in 2013 and 2D IP undertaken in 2012, a further 68 rock
samples were collected from various alteration zones focused around the Happy
Geo prospect earlier in the year. Plus Minerals' short wave infra-red (SWIR)
spectrometer analysis of the 68 recent samples confirmed zones of argillic,
sericitic and silicification alteration with pyrite coincident with the IP
chargeability anomalies. The SWIR analysis indicates alteration maybe related to
an underlying porphyry system but further analysis is ongoing to confirm this
and explore its potential for a near surface shear-gold orebody(s). 


Kincora geologists recently also concluded a further orientation survey at Happy
Geo, which confirmed the reported high gold tenor here (from 0.01 up to 20.2g/t
Au, averaging 5.1-10.1 g/t Au). Follow-up detailed mapping and trenching is
ongoing, initially focusing on a 550 m strip of the exposed shear zone at Altan
Undes with a focus on at or near surface gold potential.


Qualified Person

The scientific and technical information in this news release was prepared in
accordance with the standards of the Canadian Institute of Mining, Metallurgy
and Petroleum and National Instrument 43-101 - Standards of Disclosure for
Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by
Kincora's geological staff under the supervision of John Rickus, Chairman and
Director of Kincora Copper, who is the Qualified Person for the purpose of NI
43-101.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


To read about Kincora Copper Limited, please visit the following link:
http://media3.marketwire.com/docs/948270_ABOUT.pdf. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kincora Copper Limited
Sam Spring
President and Chief Executive Officer
+61431 329 345
sam.spring@kincoracopper.com
www.kincoracopper.com

Inca Pacific Resources (TSXV:IP)
Historical Stock Chart
From May 2024 to Jun 2024

Inca Pacific Resources (TSXV:IP)
Historical Stock Chart
From Jun 2023 to Jun 2024