Sign up USA
Proactive Investors - Run By Investors For Investors

Kincora Copper starts drillbit turning at Bayan Tal (BTIC) target in Mongolia

The group's efforts at East TS provided a template to systematically replicate across the rest of the group's commanding portfolio
copper wires
The BTIC sits almost half way between the Oyu Tolgoi and Tsagaan Suvarga Devonian porphyry systems

Mongolia-focused explorer Kincora Copper Ltd (CVE:KCC) has started drilling at the Bayan Tal (BTIC) target in the Southern Gobi, Mongolia, after completing a first phase programme at the East TS target, which was deemed a 'technical success'.

"The first phase drilling program consisting of reverse circulation and percussion pre-collars with diamond tails totaling 3145 meters has been completed at the East TS target and been successful, in line with our expectations for the program, said Peter Leaman, senior vice president of exploration.

READ - Kincora Copper closes second tranche of financing with the EBRD

He said the group's efforts at East TS provided a template to systematically replicate across the rest of the group's commanding portfolio in the world-class Oyu Tolgoi-Tsagaan Suvarga Devonian copper belt.

It saw 3,145 metres sunk for 13 holes, the company said in a statement.

Interpreted results for the first phase drilling programme, including traditional assay results, age dating, fertility and green rock analysis, ongoing and proposed geophysical programmes, and their integrated interpretations and follow up programmes for the next stage of systematic target testing will be provided following Kincora's next Technical Workshop, it added.

The BTIC sits almost half way between the Oyu Tolgoi and Tsagaan Suvarga Devonian porphyry systems.

Such a structural setting is common for most large-scale porphyry deposits globally.

WATCH - Kincora Copper raises C$1.4mln through second EBRD placement

Limited exploration so far, including drilling has returned copper-gold mineralization (up to 18 metres (m) at 0.66% Cu Eq (copper equivalent) and 18m at 0.75% Cu Eq) on the margin of a large target under shallow to moderate cover.

A two-drill rig programme has recently started at the license.

Outcropping mineralization and systematic exploration integrating geology and geophysics has refined multiple potential drill targets that are the focus of the ongoing first phase 2,850 metre, hole 6 drill programme.

Yesterday, Kincora said it had closed its second tranche placing with the European Bank for Reconstruction and Development (EBRD) and raised C$1.4mln.

It follows the closing of the first tranche on August 22, 2017, with total gross funds raised being now C$5.92mln.

Shares in Kincora shed 2.86% to US$0.34.

View full KCC profile View Profile

Kincora Copper Timeline

Related Articles

legend-mining_mark-wilson-presenting-Syd-Mar-2017-757.jpg
March 16 2017
Mark Wilson discussed with investors exploration on one of Australia's host post codes, the Fraser Range of Western Australia, with partner Creasy Group.
1510602466_uranium.jpg
November 13 2017
The group would clearly like to see higher uranium prices, but does have other revenue generating streams
Noodles
February 13 2017
The final three months of the year continued a healthy revenue growth trend for the nascent food distribution business

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use