Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Kincora Copper gets the drillbit turning at Ulgii Khud massif, Mongolia

It follows work last year in the area, which generated targets and now four percussion holes are planned .
Kincora Copper gets the drillbit turning at Ulgii Khud massif, Mongolia
Kincora is busy exploring Mongolia at the moment

Mongolia-focused explorer Kincora Copper Ltd (CVE:KCC) is busy currently and has now kicked off drilling at the prospects on the margins of the Ulgii Khud massif in the Southern Gobi as it continues to hunt for copper porphyries.

It follows work last year in the area, which generated targets and now four percussion holes are planned with diamond tails for up to 2,000 meters.

The prospects in question are the wholly owned Argalant, Central West and Ulgii Khud areas, and the first phase will see two holes at the Argalant prospect, before drilling the Central West Khiid Ulgii and West Khiid Ulgii prospects.

Notably, historic samples taken by Ivanhoe Mines on limited areas of outcrop on the massif massif support it being a potential copper-gold mineralized system.

Kincora believes no drilling has taken place into the intrusion or its margins under cover.

"The Ulgii Khud massif is along the northeast arc parallel Oyu Tolgoi-Tsagaan Suvarga Devonian belt," explained Sam Spring, president and chief executive.

"Porphyries in more mature and well-understood copper belts are known to occur in favourable structural settings and do not occur in isolation.

"The two currently economic deposits in the Southern Gobi copper belt are interpreted to be controlled by arc transverse structures within Late Devonian age intrusions."

Spring said the maiden drilling was testing four potentially favourable structures at moderate depths and was expected to provide important geological understanding to this "very large, but previously undrilled intrusive complex where limited previous surface exploration supports a potential copper-gold system under cover".

He added: "Following the recently two-tranche private placements Kincora will complete approximately 20,000 metres of drilling over a nine- to 12-month period."

Last week, the firm began ground magnetic and gravity surveys at its Red Well licence in Mongolia.

Kincora was granted the licence in February last year, following the eastern section of Mongolia only being opened up in the second half of 2015 following a five-year moratorium on issuing new exploration licences.

Red Well lies 40 km north of the Oyu Tolgoi concentrate plant and immediately to the north of Rio Tinto drilling activities on a Turquoise Hill Resources licence.

Shares in Toronto added 1.41% to C$0.36.

View full KCC profile View Profile

Kincora Copper Timeline

Related Articles

Kola may have more than 1bn tonnes
A first mineral resource estimate (MRE) for the Dongou Extension deposit had identified 232mln tonnes grading at 38.1% sylvinite (KCl)
June 25 2018
Kibo's transformation into an energy company is gathering momentum
Picture of drill rig
May 03 2018
The Strickland project covers over 100 strike kilometres of greenstone belts and straddles the Evanston and Yuinmery Shear Zones.

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 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.

© Proactive Investors 2018

Proactive Investors 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