Kincora Copper identifies high priority targets at Bronze Fox
Kincora Copper (CVE:KCC) has identified a number of "large scale, high priority" follow up targets at its flagship Bronze Fox licence in Mongolia.
Particularly, these are near surface and merit further drilling, the firm said, updating on previous and current fieldwork and corporate matters.
It comes after a recently completed Induced Polarization (IP) study and other geological work.
"Further analysis and integration of various activities completed in the current and previous field seasons are ongoing but initial findings have confirmed Bronze Fox’s strategic location in a proven but underexplored productive porphyry copper belt and enhanced our understanding of its favourable regional setting, extensive copper-gold system(s), and advanced both nearer surface and potentially higher grade target areas," president and chief executive Sam Spring said.
The company boss highlighted that construction of the Tsagaan Suvarga project, owned by MAK, a Mongolian national firm, continues within 40 kilometres (km) of Bronze Fox.
Meanwhile, initial production from Rio Tinto's huge Oyu Tolgoi mine, 140km away along strike, is ramping up, with discussions for financing of the underground development continuing.
Kincora also noted that on October 3, Mongolia's parliament voted to approve a new investment law intended to create a stable legal environment, which does not distinguish between foreign or domestic investors.
The new law is proposed to come into effect on November 1.
Kincora also continues to look to take steps to reduce cash outflows, the company said on Wednesday.
Particularly, these are near surface and merit further drilling, the firm said, updating on previous and current fieldwork and corporate matters.
It comes after a recently completed Induced Polarization (IP) study and other geological work.
"Further analysis and integration of various activities completed in the current and previous field seasons are ongoing but initial findings have confirmed Bronze Fox’s strategic location in a proven but underexplored productive porphyry copper belt and enhanced our understanding of its favourable regional setting, extensive copper-gold system(s), and advanced both nearer surface and potentially higher grade target areas," president and chief executive Sam Spring said.
The company boss highlighted that construction of the Tsagaan Suvarga project, owned by MAK, a Mongolian national firm, continues within 40 kilometres (km) of Bronze Fox.
Meanwhile, initial production from Rio Tinto's huge Oyu Tolgoi mine, 140km away along strike, is ramping up, with discussions for financing of the underground development continuing.
Kincora also noted that on October 3, Mongolia's parliament voted to approve a new investment law intended to create a stable legal environment, which does not distinguish between foreign or domestic investors.
The new law is proposed to come into effect on November 1.
Kincora also continues to look to take steps to reduce cash outflows, the company said on Wednesday.
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