Kincora Copper excited by exploration results from Buyant licence in Mongolia
Kincora Copper (CVE:KCC) has revealed exploration results from the Buyant licence.
The Buyant licence – also known as the Bronze Fox Project – is located in southeast Mongolia on the same copper-gold belt that hosts the world class Oyu Tolgoi deposit, which is being developed by Rio Tinto.
In October the explorer completed 1,240 metres of diamond drilling on the Buyant licence. This work built on the 10,035 metres completed in the previous month.
Today it provided an update which includes assays from three of the five holes drilled in October.
Two of the holes were drilled on the West Kasulu area and the other was drilled on the Sophie North area.
Kincora said that one of the West Kasulu holes intersected copper grades of 8.11 per cent and a gold grade of 1.5 grams per tonne. This came in a one metre interval which formed part of a much larger 106 metre intersection with an average grade of 0.4 per copper equivalent.
In the other hole Kincora said that about 50 per cent of the intervals intersected copper. The highest copper grade was 0.41 per cent and highest gold content of 0.46 grams per tonne.
Meanwhile the Sophie North hole encountered gold anomalies. It intersected ten intervals with greater than 0.1 grams per tonne gold and the highest had 0.44 grams per tonne gold.
Additionally Kincora completed a surface rock chip sampling programme near Leca Pass.
Sixty samples were taken. From that eleven assays were returned with gold grades in excess of 0.5 grams per tonne. Eight samples contained greater than 1 grams per tonne and three samples had more than 19 grams per tonne. The highest sample contained 91.6 grams per tonne gold.
Kincora said that the samples were taken from quartz veins along a shear zone which is relatively underexplored.
“We are excited with the recent results,” said chief executive Igor Kovarsky.
“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.”
The Buyant licence – also known as the Bronze Fox Project – is located in southeast Mongolia on the same copper-gold belt that hosts the world class Oyu Tolgoi deposit, which is being developed by Rio Tinto.
In October the explorer completed 1,240 metres of diamond drilling on the Buyant licence. This work built on the 10,035 metres completed in the previous month.
Today it provided an update which includes assays from three of the five holes drilled in October.
Two of the holes were drilled on the West Kasulu area and the other was drilled on the Sophie North area.
Kincora said that one of the West Kasulu holes intersected copper grades of 8.11 per cent and a gold grade of 1.5 grams per tonne. This came in a one metre interval which formed part of a much larger 106 metre intersection with an average grade of 0.4 per copper equivalent.
In the other hole Kincora said that about 50 per cent of the intervals intersected copper. The highest copper grade was 0.41 per cent and highest gold content of 0.46 grams per tonne.
Meanwhile the Sophie North hole encountered gold anomalies. It intersected ten intervals with greater than 0.1 grams per tonne gold and the highest had 0.44 grams per tonne gold.
Additionally Kincora completed a surface rock chip sampling programme near Leca Pass.
Sixty samples were taken. From that eleven assays were returned with gold grades in excess of 0.5 grams per tonne. Eight samples contained greater than 1 grams per tonne and three samples had more than 19 grams per tonne. The highest sample contained 91.6 grams per tonne gold.
Kincora said that the samples were taken from quartz veins along a shear zone which is relatively underexplored.
“We are excited with the recent results,” said chief executive Igor Kovarsky.
“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.”
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