Kincora Copper Announces Intersections With Improved Copper and Gold Grades
15 November 2011 - 10:30PM
Marketwired Canada
Kincora Copper Limited (TSX VENTURE:KCC) ("Kincora") is pleased to announce an
Exploration Update for the Bronze Fox Project (Buyant License), which occupies
223km2 of land 140km northeast of the world class Oyu Tolgoi project, on the
same metallogenic belt.
Exploration update
-- Kincora completed a further 1,240m of diamond (core) drilling in October
(in addition to the 10,035m completed by end-September)
-- 5 holes have been drilled in October and assay results have been
returned for 3 holes (two in West Kasulu and one in Sophie North). The
significant results include:
-- F31 West Kasulu: Intersected high copper grade of 8.11% and high
gold grade of 1.5g/t over 1m within a 106m intersection of 0.40%CuEq
-- F35 West Kasulu: Located 1.3km to the east of F31. About 50% of the
intervals intersected copper with the highest Cu content of 0.41%
and highest gold content of 0.46g/t.
-- F36 Sophie North: Gold anomalies intersected. From 36 to 342m, 10 1m
intervals intersected greater than 0.1g/t Au, with the highest
return of 0.44g/t Au.
-- A surface rock chip sample program (60 samples) to test for potential
gold in an area 3km south of Leca Pass resulted in 11 assays with gold
grade of greater than 0.5g/t, including 8 samples with greater than 1g/t
Au, and 3 samples with greater than 19g/t Au, the highest being 91.6g/t
Au. Those samples are scattered in quartz veins along a shear zone which
is relatively underexplored. 8 samples with greater than 1g/t Au were
distributed in a zone of 500m in length.
Summary of diamond drilling results(1)
--------------------------------------------------------------------------
From To Cu(%) Au(g/t) CuEq(%)
Hole Location (m) (m) average average average
--------------------------------------------------------------------------
F31 W. Kasulu 0 106 0.30 0.12 0.40
--------------------------------------------------------------------------
Including 7 8 8.70 1.07 8.95
--------------------------------------------------------------------------
Including 0 54 0.39 0.14 0.50
--------------------------------------------------------------------------
554 569 0.49 0.15 0.61
--------------------------------------------------------------------------
600 604 0.53 0.13 0.63
--------------------------------------------------------------------------
F36 S.North 301 302 0.02 0.44 0.34
--------------------------------------------------------------------------
Note:
1. Quality assurance: All of the core samples were assayed by Actlabs, an
internationally recognized laboratory.
(http://www.actlabs.com/page.aspx?menu=60&app=206&cat1=495&tp=2&lk=no)
All the samples were assayed with 50 gram fire assay for Au, and ICP
assay for Cu, Mo, Ag, Zn, etc. covering a total of 36 elements. Au fire
assays were done by ActLabs in Ulaanbaatar and ICP assays were done at
ActLabs in Canada. 5% of standards, 3% of blanks, and 1% of duplicates
were used for assay quality control. The Company has a formal sample
analysis service contract with ActLabs.
Next steps
-- A systematic rock chip sampling program over all of the historical
Soviet trenches has been conducted at intervals of 2m.
-- A soil sampling program commenced on 5th November with a 200m grid to
cover the whole license area. The objective of this program is to screen
gold mineralization potential, especially for the area outside of the
current work concentration areas (West Kasulu, Leca Pass, Dunlop Fox,
Buchanan Heights and Sophie North).
-- Kincora plans to carry out a high resolution ground magnetic survey
program. The objective of this survey is to map structure and
alterations associated with magnetite destruction, and also to highlight
any magnetic intrusions, especially for the covered terrain which
composes significant parts of the license area.
-- Kincora is planning further IP survey lines which aim to follow up rock
chip samples anomalous in gold, to extend and complement previous IP
work.
"We are excited with the recent results, - says Igor Kovarsky, President & CEO.
" Kincora will complete the 2011 drilling program in November and will
concentrate on geophysics and geochemistry studies, as well as adding core
cutting facilities to expedite sample delivery to the labs for assaying. During
the winter we will design the 2012 exploration program to agressively attack
specific areas based on the results and knowledge obtained from the above
mentioned surveys." - added Mr. Kovarsky.
To view the images associated with this release, please visit the following
link: http://media3.marketwire.com/docs/kcc1115.pdf.
Qualified Person
The new drilling results in this news release and on Kincora's website and the
other scientific and technical information in this news release were 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 were reviewed, verified and compiled by
Kincora's geological staff under the supervision of John Rickus, a director of
Kincora Copper, who is the Qualified Person for the purpose of NI 43-101.
About Kincora Copper:
Kincora Copper Limited is a mining exploration and development company focused
on copper/gold deposits in Mongolia. Its key asset is the Bronze Fox (Buyant
License) copper-gold deposit located in southeast Mongolia along the Oyu Tolgoi
copper belt. The Bronze Fox (Buyant License) is located approximately 140km to
the northeast of the world-class Oyu Tolgoi copper/gold project, and is 250 km
from the Chinese border.
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