Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Kincora's new Mongolia licence on trend with Oyu Tolgoi

The new licence, Ulaan Khudag, is 15km along the mineralised trend from the huge Rio Tinto-controlled mine
Kincora's new Mongolia licence on trend with Oyu Tolgoi
Next steps will include trenching then drilling for finger porphyries targets

Kincora Copper (CVE:KCC) has added to its portfolio in Mongolia the acquisition of a new copper gold prospect adjacent to two existing properties.

The new licence, Ulaan Khudag (Red Well), is 15km along the mineralised trend from the huge Rio Tinto-controlled Oyu Tolgoi project.

Sample in the east of the licence returned 2% copper and 0.25g/t gold with anomalous values also to the west.

Kincora added it is also looking at more advanced prospects and will hold talks with its largest shareholder Origo Partners and other members of the board.

It held cash at its year-end of approximately US$400,000 with US$500,000 in an escrow account.

Sam Spring, chief executive, added that work this year so far on its two existing licences  has identified near surface targets that warrant testing on the margins of the Bronze Fox Intrusive Complex.

Next steps will include trenching then drilling for finger porphyries targets.

“The licence has a full term of up to 12 years and is an attractive addition to our portfolio with very low capital requirement, again highlighting Mongolia's status of one of the last proven but underexplored copper frontiers and on China's doorstep,“ Spring said..

PhilW.jpg
Why Invest In Kincora Copper? Read More Here

Register here to be notified of future KCC Company articles
View full KCC profile View Profile

Kincora Copper Timeline

Related Articles

Gold-plus-dollars.jpg
February 21 2017
Pershing Gold is planning to produce an initial 88,500 ounces per year from the Relief Canyon mine in Nevada
Glen3.jpg
November 25 2016
"Back in January nobody wanted to know anything about resources, let alone gold, and we saw an opportunity..."
great-boulder-resources_MD-Stefan-Murphy-presenting-Melb-Jan-2017-757.jpg
February 03 2017
Stefan Murphy discussed with investors gold assets and drilling programs.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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