Kincora Copper Announces Extensive Copper Mineralization Zones
October 18 2011 - 7:30AM
Marketwired Canada
Kincora Copper Limited (TSX VENTURE:KCC) -
Key highlights
-- All the holes drilled in West Kasulu and Leca Pass, and some of the
holes in Buchanan Heights and Sophie North this year intersected
extensive copper and/or gold mineralization
-- In the last six months 10,035m of diamond (core) drilling has been
completed with drill holes containing mineralization up to 5km apart.
Mineralization covers a very large area of more than 35km2
-- The drill holes in West Kasulu and Leca Pass contain extensive copper
mineralization with high grade intersections. This highlights that the
license has the potential to host a high grade resource
-- A number of the drill holes were open at depth, with one drill hole
containing over 750m of consistent copper mineralization, locally with
up to 0.9% Mo, and ending in a mineralization zone
-- Work to date has focused on c.13% of the license area, and further
exploration work is planned for the extended property in 2012
-- Three new geophysical high anomaly areas were identified in April and
May. Recent new rock chip sample assay results include returned samples
of up to 93g/t Au indicating further gold potential outside of the
current focused work area
-- The Company is fully funded with cash of C$6.0m reported as at the end
of September 2011
Kincora Copper Limited (the "Company" or "Kincora") is pleased to announce an
Exploration Update for the Bronze Fox project, which occupies 223km2 of land
140km northeast of the world class Oyu Tolgoi project, on the same metallogenic
belt.
Exploration Update
-- The Company has completed 10,035m of diamond (core) drilling within the
central part of the mineral license covering an area of 30km2 since 2nd
April 2011. The Company drilled a total of 18 holes this year, at a
depth of up to 985 meters below the ground level, with mineralization
open at depth. Since last year a total of 41 holes have been drilled for
a total of 15,435m.
-- Drilling of 3 additional holes is underway, adding 1,500-2,000m to the
total meters drilled.
-- In West Kasulu, 5 holes have been drilled this year and all of the holes
intersected copper and copper/gold mineralization of porphyry style. The
significant holes include:
-- F27 intersected some small intervals of over 1g/t of Au (up to
2.48g/t Au) and also 30-40m of copper mineralization intervals
-- F28 had over 750m of consistent copper mineralization, locally with
higher Mo mineralization zones up to 0.9% Mo, and ending in a
mineralization zone.
-- F29 mineralization started from the surface; the hole ended in a
very strong argillic alteration zone with disseminated pyrite and
minor chalcopyrite which is possibly related to a porphyry
mineralization system. Above 326m a total of 209m of copper
mineralization was intersected and locally up to 2.26g/t Au grades
were encountered.
-- In hole F31 at a depth of around 550m, a porphyry dyke was
intersected with some porphyry xenoliths containing over 5% of
chalcopyrite. Part of the assay results were received, indicating
this porphyry dyke contains 0.4-0.7% Cu with up to 0.63g/t of
associated Au.
-- From the south of West Kasulu and Leca Pass a high IP chargeability
anomaly stretches for over 6km. Two holes have recently been drilled at
the east part of this IP anomaly in Leca Pass, both intersecting copper
mineralization. These are currently awaiting lab assay results.
-- 6 holes were drilled in the Buchanan Heights and Sophie North targets
for initial scout drill testing of a potential gold target zone. 4 holes
intersected hydrothermal related pyrite and arsenopyrite veins. Assay
results showed 1g/t to 4.2g/t Au at some intervals, indicating the
potential of this belt to host gold mineralization.
-- The plan is for 12,000m to be drilled by the end of the current field
season.
-- A regional green-field exploration program was conducted outside of the
current target area, due to the lack of any previous work. A vector IP
survey and a geological mapping program on a 1:50,000 scale was
completed over an area of 200km2. A 19.6 line kilometer of DDIP survey
was conducted to follow up on the Vector IP anomalies. As a result three
new IP chargeability anomaly areas were identified for follow up.
-- Recent new rock chip sample assay results indicate further gold
potential outside of the current target area.
John Rickus, a director of Kincora Copper, is the Qualified Person who prepared
this information that forms the basis for the scientific and technical
information contained in this news release.
Summary diamond drilling results(1)
----------------------------------------------------------------------------
Cu(%) Au(g/t) CuEq(%)
Hole(2) Location From(m) To(m) Interval(m) average average average
----------------------------------------------------------------------------
BFD004 D. Fox 12 14 2 0.35 0.07 0.40
----------------------------------------------------------------------------
30 32 2 0.49 0.40 0.81
----------------------------------------------------------------------------
BFD005 D. Fox 106 108 2 0.04 0.78 0.62
----------------------------------------------------------------------------
118 124 6 0.51 0.15 0.62
----------------------------------------------------------------------------
208 216 8 0.30 0.13 0.41
----------------------------------------------------------------------------
BFD006 D. Fox 12 50 38 0.27 0.53 0.68
----------------------------------------------------------------------------
including 26 48 22 0.29 0.84 0.95
----------------------------------------------------------------------------
including 26 30 4 0.43 3.87 3.50
----------------------------------------------------------------------------
BFD007 W. Kasulu 0 44 44 0.25 0.07 0.30
----------------------------------------------------------------------------
106 364 258 0.31 0.17 0.44
----------------------------------------------------------------------------
114 154 40 0.37 0.79 0.96
----------------------------------------------------------------------------
BFD011 W. Kasulu 0 118 118 0.23 0.08 0.30
----------------------------------------------------------------------------
including 18 58 40 0.36 0.15 0.47
----------------------------------------------------------------------------
including 32 50 18 0.47 0.22 0.64
----------------------------------------------------------------------------
BFD019 W. Kasulu 10 98.3 88.3 0.16 0.07 0.24
----------------------------------------------------------------------------
including 42 64 22 0.21 0.07 0.35
----------------------------------------------------------------------------
154 156 2 0.96 0.16 1.10
----------------------------------------------------------------------------
188 194 6 0.40 0.50 0.83
----------------------------------------------------------------------------
BFD021 W. Kasulu 1.5 96 94.5 0.27 0.18 0.41
----------------------------------------------------------------------------
including 26 58 32 0.30 0.20 0.45
----------------------------------------------------------------------------
80 82 2 0.39 1.29 1.35
----------------------------------------------------------------------------
90 92 2 0.41 1.01 1.16
----------------------------------------------------------------------------
168 192 24 0.28 0.13 0.38
----------------------------------------------------------------------------
310 384 74 0.25 0.03 0.28
----------------------------------------------------------------------------
BFD023 W. Kasulu 9.2 359.2 352 0.27 0.11 0.35
----------------------------------------------------------------------------
including 66 210 144 0.32 0.20 0.47
----------------------------------------------------------------------------
including 106 156 50 0.45 0.39 0.76
----------------------------------------------------------------------------
BFD024 W. Kasulu 134 157.8 23.8 0.40 0.07 0.45
----------------------------------------------------------------------------
including 140 154 14 0.50 0.08 0.55
----------------------------------------------------------------------------
179.4 499 319.6 0.29 0.04 0.32
----------------------------------------------------------------------------
F9 B. Heights 90 91 1 0.37 0.74 1.02
----------------------------------------------------------------------------
F12 W. Kasulu 57 118.45 61.45 0.22 0.13 0.32
----------------------------------------------------------------------------
including 57 77.2 20.2 0.26 0.15 0.37
----------------------------------------------------------------------------
F13 W. Kasulu 140 143 3 0.45 0.11 0.53
----------------------------------------------------------------------------
199 200 1 0.09 0.78 0.67
----------------------------------------------------------------------------
F20 W. Kasulu 186 226 40 0.26 0.28 0.45
----------------------------------------------------------------------------
including 213 221 8 0.39 0.79 0.91
----------------------------------------------------------------------------
F21 W. Kasulu 8 27 19 0.26 0.30 0.50
----------------------------------------------------------------------------
including 16 23 7 0.25 0.56 0.63
----------------------------------------------------------------------------
F27 W. Kasulu 141 171 30 0.26 0.16 0.40
----------------------------------------------------------------------------
including 153 161 8 0.39 0.45 0.70
----------------------------------------------------------------------------
268 315 47 0.26 0.05 0.31
----------------------------------------------------------------------------
429 431 2 0.06 2.04 1.60
----------------------------------------------------------------------------
F28 W. Kasulu 2 750 748 0.18 0.04 0.23
----------------------------------------------------------------------------
including 239 249 10 0.33 0.07 0.39
----------------------------------------------------------------------------
305.5 315 9.5 0.40 0.06 0.83(3)
----------------------------------------------------------------------------
F29 W. Kasulu 0 109 109 0.20 0.03 0.24
----------------------------------------------------------------------------
226 326 100 0.20 0.08 0.27
----------------------------------------------------------------------------
416 424 8 0.23 0.16 0.35
----------------------------------------------------------------------------
F31(4) W. Kasulu 555 565 10 0.52 0.18 0.66
----------------------------------------------------------------------------
F32 B. Heights 138 139 1 0.01 1.19 0.90
----------------------------------------------------------------------------
200 201 1 0.18 2.13 1.77
----------------------------------------------------------------------------
334 335 1 0.08 0.82 0.69
----------------------------------------------------------------------------
F33(4) B. Heights 54 55 1 1.12
----------------------------------------------------------------------------
67 68 1 1.34
----------------------------------------------------------------------------
201 202 1 0.30 0.55 0.78
----------------------------------------------------------------------------
greater
226 227 1 than 1 4.20
----------------------------------------------------------------------------
244 245 1 0.21 0.45 0.55
----------------------------------------------------------------------------
300 301 1 0.48 2.01 1.98
----------------------------------------------------------------------------
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 for the 2011 drill holes. For the
2010 drill holes, the core samples were assayed at the SGS Mongolian
laboratory. Whilst no standards were used, barren core samples were used
as blanks. For the earlier BFD drill holes Kincora does not have any
record of the QA/QC procedures.
2. BFD denominated holes were drilled by Ivanhoe Mines, F holes drilled by
Kincora.
3. 0.95% Mo within 305.5m to 306m.
4. Results only partially received from the laboratories.
To view the images associated with this release, please visit the following
link: http://media3.marketwire.com/docs/kcc1018i.pdf.
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 copper-gold
deposit located in southeast Mongolia along the Oyu Tolgoi copper belt. The
Bronze Fox Project is located approximately 140km to the northeast of the
world-class Oyu Tolgoi copper/gold project, and is 250km from the Chinese
border.
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