Mongolia-focused miner Kincora Copper Ltd (CVE:KCC, OTCMKTS:BZDLF) said Wednesday that geophysical surveys at the East Tsagaan Suvarga and Bronze Fox projects in Mongolia were completed on time and under budget.
The results supported multiple drill targets, Vancouver-based Kincora said in a press release, adding that a preferred drill contractor has been selected. Final modeling is expected in upcoming weeks.
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The surveys were carried out by SJ Geophysics Ltd, based in Delta, British Columbia.
"Significant progress has been made at Bronze Fox,” Peter Leaman, senior vice president of exploration, said in a statement. "Preliminary results of the SJ geophysical survey at East Tsagaan Suvarga have provided significant encouragement.”
In the past 12 months, Kincora has reviewed more than 300 projects, according to the company.
Shares of Kincora slipped C$0.02 to C$0.14 in Canadian trading on Wednesday.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com