Kincora Copper Limited announced partial assay results from Hole BF62 located in the West Kasulu zone at Bronze Fox:
The discovery is located at the centre of Kincora's group of exploration licenses and at the west border of Kincora's license 15000X. License 15000X is located in the southwest of Mongolia, 140 kilometers to the northeast of Oyu Tolgoi and sits in the same metallogenic belt. Partial drill core from hole BF62 has intersected 180 meter interval with continuous copper mineralization.
1. The average copper grade across 180 meters is 0.5% Cu and 0.1 gram per tonne Au with associated Mo mineralization up to 0.33%;
2. Including 37 meters averaging 0.829% Cu, 0.14 gram per tonne Au and 0.04% Mo between 573 meters to 610 meters or 1.11% CuEq. This includes 13 meters between 595 meters and 608 meters averaging 1.14% Cu, 0.17 gram per tonne Au and 694 ppm Mo equating to a CuEq of 1.57%.
The mineralization begins from the surface and remains open at depth. Further core cutting and sampling is ongoing with the hole continuing below 1,000 meters.
These results confirm the potential for a deep high grade porphyry style copper deposit and increase management's confidence that the exploration program could be reaching the edge of a large high grade copper and gold resource. Further drilling will test the extent of the mineralization and will track the halo east and west which runs for 2 kilometers.
Between April and July 2012, 7,168 meters of diamond core drilling was completed. Partial cores containing 2,219 samples were sent to laboratories for assaying with 2,184 results now received.
1. In West Kasulu, F50 drilled to 319.5 meters with the entire hole intersecting lower grade copper mineralization. The hole collapsed in an argillic zone and could not penetrate further.
2. Hole F57 in West Kasulu drilled to 517 meters with all of the hole intersecting copper mineralization including 151 meters averaging 0.25% Cu from 217 meters to 368 meters with up to 1.16% Cu and 64 meters of 0.297% Cu from 217 meters to 281 meters with up to 1.67% Cu.
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.
1. Hole F61 intersected 1 meter of 2.74 gram per tonne Au between 39 meters to 40 meters and 5 meters averaging 2.65 gram per tonne Au between 60 meters to 65 meters including 3 meters of 3.45 gram per tonne to 4.70 gram per tonne.
2. Hole F51 intersected 6m averaging 0.67 gram per tonne Au between 39 meters and 45 meters with up to 1.18 gram per tonne Au and 1 meter of 0.8 gram per tonne Au at 154 meters.
3. Hole F59 intersected 14 meter at an average of 0.39 gram per tonne Au from 273 to 287 meters with up to 1.49 gram per tonne Au.
4. Further core cutting and sampling is ongoing.
Mr John Rickus president and CEO of Kincora said that "These exciting results confirm that higher grade zones exist within this exceptionally large system. 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 mineralization on the Bronze Fox properties."
Source - Kincora Copper
(www.steelguru.com)
